Tribune Investment Group LP Acquires New Stake in DPC Holdings PLC $DPC

Key Points

• Institutional investors increased exposure to DPC Holdings: Tribune Investment Group acquired 63,300 shares worth approximately $3.1 million, while SurgoCap Partners established a new stake valued at about $31.3 million.
• Analysts remain broadly positive: DPC has a consensus “Moderate Buy” rating and an average price target of $57.62, with recent targets ranging from $53.50 to $59.00.
• Insiders made substantial purchases, but earnings fell short: Company insiders bought 2.3 million shares worth $75.8 million over the past three months, while quarterly EPS came in at $0.05 versus the $0.08 analyst consensus.

Tribune Investment Group LP bought a new position in DPC Holdings PLC (NYSE:DPC - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 63,300 shares of the company's stock, valued at approximately $3,105,000. DPC accounts for 1.3% of Tribune Investment Group LP's investment portfolio, making the stock its 28th largest holding.

Separately, SurgoCap Partners LP acquired a new stake in shares of DPC in the 2nd quarter valued at about $31,336,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DPC. Jefferies Financial Group assumed coverage on DPC in a report on Monday, July 20th. They issued a "buy" rating and a $56.00 price target on the stock. Wall Street Zen upgraded DPC to a "hold" rating in a report on Saturday, July 4th. Zacks Research raised DPC to a "hold" rating in a research report on Tuesday, July 21st. Rothschild & Co Redburn started coverage on DPC in a research report on Monday, July 20th. They set a "buy" rating and a $53.50 price target for the company. Finally, Morgan Stanley upped their price target on DPC from $47.00 to $59.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, DPC has a consensus rating of "Moderate Buy" and an average price target of $57.62.

Insider Activity at DPC

In other DPC news, COO Jason Mays bought 85,973 shares of the firm's stock in a transaction that occurred on Friday, June 26th. The shares were acquired at an average cost of $33.00 per share, with a total value of $2,837,109.00. Following the acquisition, the chief operating officer owned 93,456 shares of the company's stock, valued at $3,084,048. The trade was a 1,148.91% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael (Mike) Joseph Quinn purchased 435,121 shares of the company's stock in a transaction that occurred on Friday, June 26th. The stock was acquired at an average price of $33.00 per share, for a total transaction of $14,358,993.00. Following the purchase, the chief executive officer owned 435,121 shares in the company, valued at $14,358,993. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 2,297,621 shares of company stock worth $75,821,493 in the last three months.

DPC Price Performance

DPC stock opened at $45.38 on Monday. DPC Holdings PLC has a 52 week low of $42.50 and a 52 week high of $57.25. The stock's 50-day simple moving average is $48.60.

DPC (NYSE:DPC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.03). The business had revenue of $268.70 million during the quarter. As a group, sell-side analysts predict that DPC Holdings PLC will post 0.45 EPS for the current year.

DPC Profile

DPC Holdings is a manufacturer of engineered engine products which include complex precision cast components and nickel- and cobalt-based superalloys primarily serving Aerospace and IGT end markets. DPC Holdings is based in United Kingdom.

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