Mudrick Capital Management L.P. Makes New Investment in DPC Holdings PLC $DPC

Mudrick Capital Management L.P. purchased a new stake in shares of DPC Holdings PLC (NYSE:DPC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,402,671 shares of the company’s stock, valued at approximately $314,115,000. DPC makes up approximately 70.1% of Mudrick Capital Management L.P.’s portfolio, making the stock its biggest position. Mudrick Capital Management L.P. owned about 4.29% of DPC as of its most recent SEC filing.

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

Analyst Ratings Changes

Several research firms recently issued reports on DPC. Morgan Stanley upped their price objective on DPC from $47.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 12th. Rothschild & Co Redburn assumed coverage on DPC in a report on Monday, July 20th. They issued a “buy” rating and a $53.50 target price for the company. Jefferies Financial Group began coverage on DPC in a research note on Monday, July 20th. They issued a “buy” rating and a $56.00 price target for the company. Royal Bank Of Canada upped their price target on DPC from $53.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Finally, Zacks Research raised DPC to a “hold” rating in a research report on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.62.

DPC Price Performance

DPC opened at $42.87 on Wednesday. The firm’s 50 day moving average is $47.27. DPC Holdings PLC has a twelve month low of $37.65 and a twelve month high of $57.25.

DPC (NYSE:DPC) last issued its earnings results on Tuesday, August 11th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.03). The company had revenue of $268.70 million for the quarter. As a group, research analysts predict that DPC Holdings PLC will post 0.45 EPS for the current fiscal year.

Insider Activity

In other news, Director Nick Sanders acquired 288,213 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was bought at an average price of $33.00 per share, with a total value of $9,511,029.00. Following the completion of the acquisition, the director directly owned 288,213 shares of the company’s stock, valued at approximately $9,511,029. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David John Egan acquired 275,363 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was purchased at an average cost of $33.00 per share, with a total value of $9,086,979.00. Following the acquisition, the chief financial officer directly owned 294,529 shares of the company’s stock, valued at $9,719,457. This trade represents a 1,436.73% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 2,297,621 shares of company stock worth $75,821,493.

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.