ClubCorp Holdings Inc. (MYCC) Stock Rating Lowered by Zacks Investment Research
ClubCorp Holdings Inc. (NYSE:MYCC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Friday.
According to Zacks, “ClubCorp Holdings, Inc. is involved in leisure business. The company owns or operates a golf and country clubs, business clubs, sports clubs and alumni clubs primarily in North America. It operates in two segments: Golf and Country Clubs and Business, Sports and Alumni Clubs. The Golf and Country Clubs segment offers private country clubs, golf clubs which offer private and public golf play, other recreational amenities and public golf facilities. The Business, Sports and Alumni Clubs segment provides business clubs for dining, business or social entertainment for business executives, professionals and entrepreneurs, sports clubs provides fitness and racquet facilities, business/sports clubs and alumni clubs to provide a connection between the university and its alumni and faculty. ClubCorp Holdings, Inc. is based in Dallas, Texas. “
Several other research firms have also weighed in on MYCC. Goldman Sachs Group Inc. began coverage on shares of ClubCorp Holdings in a report on Monday, September 26th. They set a “neutral” rating and a $16.00 target price on the stock. Imperial Capital upgraded shares of ClubCorp Holdings from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $14.00 to $21.00 in a report on Friday, September 16th. FBR & Co restated a “buy” rating and set a $17.00 target price on shares of ClubCorp Holdings in a report on Friday, September 16th. Wells Fargo & Co. reiterated a “buy” rating on shares of ClubCorp Holdings in a report on Tuesday, July 19th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of ClubCorp Holdings in a report on Friday, September 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $19.00.
ClubCorp Holdings (NYSE:MYCC) opened at 12.02 on Friday. The firm’s 50 day moving average price is $14.61 and its 200 day moving average price is $13.66. ClubCorp Holdings has a one year low of $9.75 and a one year high of $20.90. The stock’s market cap is $788.03 million.
ClubCorp Holdings (NYSE:MYCC) last posted its earnings results on Thursday, October 13th. The company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.06. The business had revenue of $259.33 million for the quarter, compared to analyst estimates of $264.83 million. ClubCorp Holdings had a negative net margin of 0.74% and a negative return on equity of 0.22%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.02 EPS. Equities analysts forecast that ClubCorp Holdings will post $0.21 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 17th. Stockholders of record on Monday, October 10th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Wednesday, October 5th. This is a positive change from ClubCorp Holdings’s previous quarterly dividend of $0.12. ClubCorp Holdings’s dividend payout ratio is -400.00%.
In related news, EVP Andrew V. Miller sold 2,000 shares of the business’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $14.94, for a total transaction of $29,880.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.90% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Legal & General Group Plc increased its stake in shares of ClubCorp Holdings by 5.0% in the second quarter. Legal & General Group Plc now owns 14,602 shares of the company’s stock worth $186,000 after buying an additional 689 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of ClubCorp Holdings by 8.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 12,223 shares of the company’s stock worth $159,000 after buying an additional 973 shares in the last quarter. US Bancorp DE increased its stake in shares of ClubCorp Holdings by 15.8% in the second quarter. US Bancorp DE now owns 7,972 shares of the company’s stock worth $104,000 after buying an additional 1,089 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of ClubCorp Holdings by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,033 shares of the company’s stock worth $117,000 after buying an additional 1,096 shares in the last quarter. Finally, Janus Capital Management LLC increased its stake in shares of ClubCorp Holdings by 0.7% in the second quarter. Janus Capital Management LLC now owns 180,584 shares of the company’s stock worth $2,348,000 after buying an additional 1,242 shares in the last quarter. 97.31% of the stock is owned by institutional investors and hedge funds.
About ClubCorp Holdings
ClubCorp Holdings, Inc is a membership-based leisure company. The Company is the owner-operator of private golf and country clubs, and business, sports and alumni clubs in North America. The Company’s segments include Golf and Country Clubs; Business, Sports and Alumni Clubs, and Other. The Company’s Golf and country club operations consist of private country clubs, golf clubs and public golf facilities.
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