BlueCrest Capital Management Ltd Buys Shares of 25,000 DPC Holdings PLC $DPC

BlueCrest Capital Management Ltd purchased a new stake in shares of DPC Holdings PLC (NYSE:DPC) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 25,000 shares of the company’s stock, valued at approximately $1,226,000.

Several other institutional investors have also modified their holdings of DPC. Readystate Asset Management LP acquired a new stake in shares of DPC in the 2nd quarter worth about $245,000. Tribune Investment Group LP acquired a new position in DPC during the 2nd quarter valued at about $3,105,000. Wellington Management Group LLP acquired a new position in DPC during the 2nd quarter valued at about $4,402,000. SurgoCap Partners LP bought a new position in DPC in the 2nd quarter worth about $31,336,000. Finally, Irenic Capital Management LP bought a new position in DPC in the 2nd quarter worth about $41,201,000.

Insider Activity

In other news, Director Taiwo K. Danmola purchased 60,604 shares of the firm’s stock in a transaction on Friday, June 26th. The stock was purchased at an average cost of $33.00 per share, with a total value of $1,999,932.00. Following the purchase, the director owned 60,604 shares in the company, valued at $1,999,932. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David John Egan purchased 275,363 shares of the stock in a transaction dated Friday, June 26th. The shares were purchased at an average price of $33.00 per share, for a total transaction of $9,086,979.00. Following the completion of the transaction, the chief financial officer owned 294,529 shares in the company, valued at $9,719,457. This trade represents a 1,436.73% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 2,297,621 shares of company stock valued at $75,821,493 over the last 90 days.

Analyst Ratings Changes

Several brokerages have commented on DPC. Morgan Stanley raised their price target on shares of DPC from $47.00 to $59.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 12th. Royal Bank Of Canada increased their price objective on DPC from $53.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Jefferies Financial Group initiated coverage on DPC in a research report on Monday, July 20th. They issued a “buy” rating and a $56.00 target price on the stock. Rothschild & Co Redburn assumed coverage on DPC in a research note on Monday, July 20th. They set a “buy” rating and a $53.50 target price on the stock. Finally, Wall Street Zen raised DPC to a “hold” rating in a research note on Saturday, July 4th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.62.

DPC Stock Performance

DPC stock opened at $40.40 on Thursday. DPC Holdings PLC has a 52 week low of $37.65 and a 52 week high of $57.25. The stock’s 50-day moving average is $47.13.

DPC (NYSE:DPC) last issued 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 firm had revenue of $268.70 million for the quarter. On average, research analysts expect that DPC Holdings PLC will post 0.45 EPS for the current year.

DPC Company 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.