Imperial Capital Lowers ClubCorp Holdings Inc. (MYCC) Price Target to $16.00
ClubCorp Holdings Inc. (NYSE:MYCC) had its price target decreased by equities researchers at Imperial Capital from $21.00 to $16.00 in a report issued on Monday. The firm currently has an “outperform” rating on the stock. Imperial Capital’s target price indicates a potential upside of 31.90% from the stock’s previous close.
MYCC has been the subject of a number of other research reports. Jefferies Group set a $27.00 target price on ClubCorp Holdings and gave the company a “buy” rating in a research note on Saturday. Zacks Investment Research cut ClubCorp Holdings from a “hold” rating to a “strong sell” rating in a research note on Friday, October 14th. MKM Partners restated a “buy” rating and issued a $24.00 target price on shares of ClubCorp Holdings in a research note on Monday, July 11th. Stifel Nicolaus restated a “buy” rating on shares of ClubCorp Holdings in a research note on Friday, September 9th. Finally, TheStreet upgraded ClubCorp Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, July 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $19.00.
ClubCorp Holdings (NYSE:MYCC) opened at 12.13 on Monday. The firm’s market capitalization is $795.24 million. The company has a 50 day moving average price of $14.55 and a 200-day moving average price of $13.65. ClubCorp Holdings has a 1-year low of $9.75 and a 1-year high of $20.82.
ClubCorp Holdings (NYSE:MYCC) last released its earnings results on Thursday, October 13th. The company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.06. The firm earned $259.33 million during the quarter, compared to analysts’ expectations of $264.83 million. ClubCorp Holdings had a negative net margin of 0.74% and a negative return on equity of 0.22%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.02 EPS. On average, analysts forecast that ClubCorp Holdings will post $0.21 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 17th. Investors of record on Monday, October 10th were issued a $0.13 dividend. The ex-dividend date was Wednesday, October 5th. This represents a $0.52 annualized dividend and a dividend yield of 4.29%. This is a positive change from ClubCorp Holdings’s previous quarterly dividend of $0.12. ClubCorp Holdings’s payout ratio is presently -400.00%.
In related news, EVP Andrew V. Miller sold 2,000 shares of ClubCorp Holdings stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $14.94, for a total value of $29,880.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.90% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Deprince Race & Zollo Inc. purchased a new stake in shares of ClubCorp Holdings during the second quarter valued at approximately $27,615,000. Wellington Management Group LLP raised its stake in shares of ClubCorp Holdings by 58.5% in the first quarter. Wellington Management Group LLP now owns 2,681,689 shares of the company’s stock valued at $37,651,000 after buying an additional 989,468 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of ClubCorp Holdings during the second quarter valued at approximately $11,483,000. Bank of Montreal Can purchased a new stake in shares of ClubCorp Holdings during the second quarter valued at approximately $10,583,000. Finally, Boston Partners raised its stake in shares of ClubCorp Holdings by 78.0% in the second quarter. Boston Partners now owns 1,690,483 shares of the company’s stock valued at $21,976,000 after buying an additional 740,569 shares during the last quarter. 97.31% of the stock is owned by institutional investors.
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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