Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (NASDAQ:OMAB) Short Interest Down 36.0% in May

Key Points

• Short interest in OMAB fell sharply in May, dropping 36% to 201,538 shares, or about 0.5% of the float. The stock’s days-to-cover ratio is now 2.3 days.
• Analyst sentiment is mixed but leans neutral, with HSBC and Citigroup issuing buy ratings while other firms downgraded the stock. MarketBeat shows an overall consensus rating of Hold with a $134 price target.
• Recent results and trading levels were mixed: the company beat revenue expectations but missed EPS in its latest quarter, and the stock recently traded at $111.07, near its 50-day and 200-day moving averages.

Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (NASDAQ:OMAB - Get Free Report) was the recipient of a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 201,538 shares, a decline of 36.0% from the May 14th total of 314,785 shares. Currently, 0.5% of the company's stock are sold short. Based on an average daily trading volume, of 89,536 shares, the days-to-cover ratio is currently 2.3 days.

Institutional Trading of Grupo Aeroportuario del Centro Norte

Institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its position in Grupo Aeroportuario del Centro Norte by 13.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,130 shares of the transportation company's stock valued at $123,000 after buying an additional 136 shares in the last quarter. Fifth Third Bancorp boosted its position in Grupo Aeroportuario del Centro Norte by 22.3% in the fourth quarter. Fifth Third Bancorp now owns 791 shares of the transportation company's stock valued at $86,000 after buying an additional 144 shares in the last quarter. Vident Advisory LLC boosted its position in Grupo Aeroportuario del Centro Norte by 1.6% in the fourth quarter. Vident Advisory LLC now owns 11,809 shares of the transportation company's stock valued at $1,285,000 after buying an additional 188 shares in the last quarter. O Brien Greene & Co. Inc boosted its position in Grupo Aeroportuario del Centro Norte by 3.4% in the fourth quarter. O Brien Greene & Co. Inc now owns 6,147 shares of the transportation company's stock valued at $669,000 after buying an additional 200 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in Grupo Aeroportuario del Centro Norte by 5.9% in the fourth quarter. ProShare Advisors LLC now owns 3,838 shares of the transportation company's stock valued at $417,000 after buying an additional 215 shares in the last quarter. 9.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on OMAB. Weiss Ratings lowered Grupo Aeroportuario del Centro Norte from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, May 1st. HSBC upgraded shares of Grupo Aeroportuario del Centro Norte from a "hold" rating to a "buy" rating and increased their price objective for the stock from $112.00 to $134.00 in a research note on Thursday, April 16th. Zacks Research lowered shares of Grupo Aeroportuario del Centro Norte from a "hold" rating to a "strong sell" rating in a research note on Wednesday, May 27th. Wall Street Zen lowered shares of Grupo Aeroportuario del Centro Norte from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Finally, Citigroup upgraded shares of Grupo Aeroportuario del Centro Norte from a "neutral" rating to a "buy" rating in a research report on Friday, May 8th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $134.00.

Grupo Aeroportuario del Centro Norte Price Performance

OMAB stock traded up $2.07 on Tuesday, hitting $111.07. 53,956 shares of the company's stock traded hands, compared to its average volume of 86,711. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.81. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 1.34 and a beta of 0.62. Grupo Aeroportuario del Centro Norte has a 1-year low of $95.69 and a 1-year high of $134.99. The stock has a fifty day moving average of $107.16 and a 200-day moving average of $111.53.

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.41 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.08). The firm had revenue of $213.33 million during the quarter, compared to analysts' expectations of $199.73 million. Grupo Aeroportuario del Centro Norte had a net margin of 32.67% and a return on equity of 49.46%. On average, analysts forecast that Grupo Aeroportuario del Centro Norte will post 6.95 EPS for the current fiscal year.

Grupo Aeroportuario del Centro Norte Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 26th were paid a $2.9165 dividend. The ex-dividend date was Tuesday, May 26th. This represents a yield of 571.0%. Grupo Aeroportuario del Centro Norte's dividend payout ratio (DPR) is presently 85.12%.

Grupo Aeroportuario del Centro Norte Company Profile

Grupo Aeroportuario del Centro Norte, SAB. de C.V. (OMAB) is a Mexican airport operator that develops, manages and operates airports under long‐term concessions granted by the Federal Government of Mexico. The company's core business covers all aspects of airport operations, including passenger processing, airfield services, security, ground handling, cargo handling and commercial activities such as retail, food and beverage, and parking.

OMA currently holds concession contracts for 13 airports in central and northern Mexico, serving key markets such as Monterrey, Ciudad Juárez, Culiacán, Hermosillo and Torreón.

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