Trexquant Investment LP Purchases New Position in Dolby Laboratories (NYSE:DLB)
Trexquant Investment LP purchased a new stake in shares of Dolby Laboratories (NYSE:DLB) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 9,005 shares of the electronics maker’s stock, valued at approximately $441,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Dolby Laboratories by 13,583.7% in the first quarter. BlackRock Inc. now owns 2,431,722 shares of the electronics maker’s stock valued at $127,449,000 after buying an additional 2,413,951 shares during the period. Clearbridge Investments LLC boosted its position in shares of Dolby Laboratories by 8.8% in the first quarter. Clearbridge Investments LLC now owns 6,181,361 shares of the electronics maker’s stock valued at $323,965,000 after buying an additional 497,767 shares during the period. American Century Companies Inc. boosted its position in shares of Dolby Laboratories by 35.5% in the first quarter. American Century Companies Inc. now owns 1,710,462 shares of the electronics maker’s stock valued at $89,645,000 after buying an additional 448,302 shares during the period. Vanguard Group Inc. boosted its position in shares of Dolby Laboratories by 8.4% in the first quarter. Vanguard Group Inc. now owns 4,621,794 shares of the electronics maker’s stock valued at $242,228,000 after buying an additional 359,509 shares during the period. Finally, Marathon Asset Management LLP boosted its position in shares of Dolby Laboratories by 137.5% in the second quarter. Marathon Asset Management LLP now owns 566,381 shares of the electronics maker’s stock valued at $27,729,000 after buying an additional 327,901 shares during the period. 50.38% of the stock is owned by hedge funds and other institutional investors.
Dolby Laboratories (NYSE:DLB) opened at 50.31 on Tuesday. The firm’s 50-day moving average price is $51.29 and its 200-day moving average price is $50.76. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 25.73 and a beta of 0.79. Dolby Laboratories has a 1-year low of $44.99 and a 1-year high of $55.02.
Dolby Laboratories (NYSE:DLB) last issued its earnings results on Tuesday, July 25th. The electronics maker reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. The business had revenue of $305.67 million for the quarter, compared to analysts’ expectations of $296.88 million. Dolby Laboratories had a net margin of 19.02% and a return on equity of 10.25%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 EPS. Equities research analysts forecast that Dolby Laboratories will post $1.99 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, August 7th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.56 annualized dividend and a dividend yield of 1.11%. Dolby Laboratories’s payout ratio is currently 28.57%.
COPYRIGHT VIOLATION NOTICE: “Trexquant Investment LP Purchases New Position in Dolby Laboratories (NYSE:DLB)” was originally posted by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another website, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this news story can be accessed at https://www.watchlistnews.com/trexquant-investment-lp-purchases-new-position-in-dolby-laboratories-nysedlb/1489254.html.
Several research firms have issued reports on DLB. Zacks Investment Research lowered Dolby Laboratories from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. BidaskClub upgraded Dolby Laboratories from a “sell” rating to a “hold” rating in a research note on Saturday, July 8th. Finally, B. Riley upgraded Dolby Laboratories to a “buy” rating and set a $61.50 price objective on the stock in a research note on Saturday, July 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Dolby Laboratories presently has a consensus rating of “Hold” and an average target price of $54.38.
In other Dolby Laboratories news, major shareholder Dagmar Dolby sold 100,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $50.84, for a total transaction of $5,084,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin J. Yeaman sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $51.79, for a total transaction of $517,900.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 624,300 shares of company stock worth $32,095,762. Insiders own 43.80% of the company’s stock.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.
Want to see what other hedge funds are holding DLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dolby Laboratories (NYSE:DLB).
Receive News & Ratings for Dolby Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dolby Laboratories and related companies with Analyst Ratings Network's FREE daily email newsletter.