Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (NASDAQ:OMAB) Short Interest Update

Key Points

• Short interest rose 50% to 343,019 shares as of September 15, equivalent to 0.8% of OMAB’s shares outstanding and 3.9 days of average trading volume.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $134; several firms recently upgraded their ratings from more bearish positions.
• OMAB shares fell 2.5% to $94.18, near their 52-week low, despite reporting quarterly EPS of $1.74, revenue of $255.27 million, a 33.17% net margin and 49.50% return on equity.

Grupo Aeroportuario del Centro Norte S.A.B. de C.V. (NASDAQ:OMAB - Get Free Report) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 343,019 shares, a growth of 50.0% from the August 31st total of 228,738 shares. Based on an average trading volume of 87,438 shares, the short-interest ratio is presently 3.9 days. Currently, 0.8% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on OMAB shares. Zacks Research upgraded Grupo Aeroportuario del Centro Norte from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 25th. Weiss Ratings raised Grupo Aeroportuario del Centro Norte from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, July 28th. Finally, JPMorgan Chase & Co. upgraded Grupo Aeroportuario del Centro Norte from an "underweight" rating to a "neutral" rating in a report on Wednesday, July 22nd. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $134.00.

Hedge Funds Weigh In On Grupo Aeroportuario del Centro Norte

A number of hedge funds and other institutional investors have recently made changes to their positions in OMAB. Militia Capital Management LLC acquired a new stake in Grupo Aeroportuario del Centro Norte during the 1st quarter valued at approximately $9,732,000. Empirical Finance LLC lifted its position in shares of Grupo Aeroportuario del Centro Norte by 74.6% in the 1st quarter. Empirical Finance LLC now owns 168,343 shares of the transportation company's stock worth $19,314,000 after purchasing an additional 71,924 shares during the period. Empowered Funds LLC lifted its position in shares of Grupo Aeroportuario del Centro Norte by 68.1% in the 1st quarter. Empowered Funds LLC now owns 168,401 shares of the transportation company's stock worth $19,321,000 after purchasing an additional 68,212 shares during the period. Fisher Funds Management LTD boosted its stake in shares of Grupo Aeroportuario del Centro Norte by 19.8% in the 1st quarter. Fisher Funds Management LTD now owns 148,551 shares of the transportation company's stock valued at $17,043,000 after purchasing an additional 24,583 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Grupo Aeroportuario del Centro Norte by 208.7% during the first quarter. Sei Investments Co. now owns 28,991 shares of the transportation company's stock worth $3,326,000 after buying an additional 19,599 shares during the period. 9.53% of the stock is owned by institutional investors and hedge funds.

Grupo Aeroportuario del Centro Norte Trading Down 2.5%

Shares of Grupo Aeroportuario del Centro Norte stock traded down $2.43 during trading on Thursday, hitting $94.18. The company's stock had a trading volume of 228,763 shares, compared to its average volume of 92,402. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 1.29 and a beta of 0.61. Grupo Aeroportuario del Centro Norte has a 52 week low of $93.24 and a 52 week high of $134.99. The stock has a 50-day moving average price of $102.70 and a two-hundred day moving average price of $106.49. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.66 and a quick ratio of 0.66.

Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB - Get Free Report) last announced its earnings results on Wednesday, July 1st. The transportation company reported $1.74 EPS for the quarter. Grupo Aeroportuario del Centro Norte had a return on equity of 49.50% and a net margin of 33.17%.The firm had revenue of $255.27 million for the quarter. Equities research analysts anticipate that Grupo Aeroportuario del Centro Norte will post 6.93 EPS for the current fiscal year.

About Grupo Aeroportuario del Centro Norte

Grupo Aeroportuario del Centro Norte, SAB. de C.V., known as OMA, operates and manages 13 airports in central and northern Mexico. Its airport network serves major metropolitan areas, industrial centers and tourist destinations, including Monterrey, Acapulco, Ciudad Juárez, Culiacán, Chihuahua, Mazatlán, San Luis Potosí, Torreón, Tampico and Zihuatanejo.

The company provides airport services that support commercial aviation, including passenger processing, aircraft landing and parking, baggage handling and other aeronautical operations.

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