DPC Holdings PLC’s Quiet Period To End Tomorrow (NYSE:DPC)

DPC’s (NYSE:DPC) quiet period is set to end on Tuesday, August 4th. DPC had issued 27,858,585 shares in its initial public offering on June 25th. The total size of the offering was $919,333,305 based on an initial share price of $33.00. During DPC’s quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DPC shares. Jefferies Financial Group initiated coverage on shares of DPC in a research report on Monday, July 20th. They set a “buy” rating and a $56.00 target price for the company. Royal Bank Of Canada started coverage on DPC in a research report on Monday, July 20th. They issued an “outperform” rating and a $53.00 price target on the stock. Wall Street Zen upgraded DPC to a “hold” rating in a research note on Saturday, July 4th. Zacks Research raised DPC to a “hold” rating in a research report on Tuesday, July 21st. Finally, Morgan Stanley initiated coverage on DPC in a research note on Monday, July 20th. They set an “equal weight” rating and a $47.00 target price for the company. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $52.38.

DPC Trading Up 1.0%

NYSE:DPC opened at $46.07 on Monday. DPC has a 12-month low of $42.50 and a 12-month high of $53.50.

Insiders Place Their Bets

In related news, Director Dirkson R. Charles bought 903,448 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was acquired at an average cost of $33.00 per share, with a total value of $29,813,784.00. Following the acquisition, the director owned 903,448 shares in the company, valued at approximately $29,813,784. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael (Mike) Joseph Quinn bought 435,121 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were bought at an average price of $33.00 per share, with a total value of $14,358,993.00. Following the transaction, the chief executive officer directly owned 435,121 shares in the company, valued at $14,358,993. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 2,297,621 shares of company stock worth $75,821,493 in the last 90 days.