November 24, 2016 - By Nellie Frank
RBC Capital Markets currently has a $16.00 target on the $476.77 million market cap company or 15.77% upside potential. In a note sent to investors on 24 November, Melcor Developments (TSE:MRD) stock had its “Sector Perform” Rating reaffirmed by expert analysts at RBC Capital Markets.
Out of 2 analysts covering Melcor Developments (TSE:MRD), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. $23 is the highest target while $16 is the lowest. The $19 average target is 37.48% above today’s ($13.82) stock price. Melcor Developments has been the topic of 5 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The stock of Melcor Developments Ltd. (TSE:MRD) earned “Sector Perform” rating by RBC Capital Markets on Friday, May 20.
About 600 shares traded hands. Melcor Developments Ltd. (TSE:MRD) has declined 3.07% since April 20, 2016 and is downtrending. It has underperformed by 8.48% the S&P500.
Insitutional Activity: The institutional sentiment decreased to 0 in 2016 Q2. Its down 1.02, from 1.02 in 2016Q1. The ratio dived, as 45 funds sold all Melcor Developments Ltd. shares owned while 57 reduced positions. 56 funds bought stakes while 48 increased positions. They now own 168.88 million shares or 5.41% less from 178.53 million shares in 2016Q1.
The New York-based Alpine Prtn Vi Ltd Liability Company has invested 0.12% in Melcor Developments Ltd. (TSE:MRD). Voya Investment Mgmt Ltd Liability Com has 0% invested in the company for 35,434 shares. Principal reported 19,721 shares or 0% of all its holdings. Halcyon Mngmt Prtnrs Limited Partnership holds 1.12% of its portfolio in Melcor Developments Ltd. (TSE:MRD) for 283,985 shares. The Florida-based Ladenburg Thalmann Fincl has invested 0% in Melcor Developments Ltd. (TSE:MRD). Talara Capital Mngmt Ltd Llc last reported 7.2% of its portfolio in the stock. Sphinx Trading Limited Partnership last reported 0.63% of its portfolio in the stock. Wellington Mgmt Grp Limited Liability Partnership holds 12,916 shares or 0% of its portfolio. Salient Capital Ltd Limited Liability Company holds 75,283 shares or 0.03% of its portfolio. Kennedy Cap Management Incorporated accumulated 0.37% or 1.15M shares. Tortoise Capital Advsr Ltd Company has 153,723 shares for 0.02% of their US portfolio. Yakira Capital Mgmt has 1.18% invested in the company for 196,643 shares. State Of Wisconsin Investment Board accumulated 0.04% or 685,121 shares. Parkwood Limited Liability Com accumulated 76,074 shares or 0.23% of the stock. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Invest Mgmt Corporation holds 0.06% of its portfolio in Melcor Developments Ltd. (TSE:MRD) for 350,000 shares.
Melcor Developments Ltd. is a real estate development and asset management company. The company has a market cap of $476.77 million. The Firm develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centers and golf courses. It has a 10.71 P/E ratio.
MacDermid Group, Inc., incorporated on June 17, 2011, is a global producer of specialty chemical products and well-known provider of technical services. The Firm is engaged in the business of manufacturing of a range of specialty chemicals, which it creates by blending raw materials, and the incorporation of these chemicals into multi-step technological processes. These specialty chemicals and processes together encompass the products the Company sells to its clients in the electronics, metal and plastic plating, graphic arts, and offshore oil production and drilling industries. The Firm refers to its products as dynamic chemistries. The Firm operates in two divisions: an industrial segment and a printing segment.
More notable recent Melcor Developments Ltd. (TSE:MRD) news were published by: Marketwired.com which released: “Melcor Developments Announces $138 Million Sale to Melcor REIT & Increases …” on November 12, 2014, also Marketwired.com with their article: “Melcor Announces Resignation of Chief Financial Officer” published on June 23, 2016, Marketwired.com published: “Melcor Developments Announces Second Quarter Results, Declares Quarterly …” on August 11, 2016. More interesting news about Melcor Developments Ltd. (TSE:MRD) were released by: Marketwired.com and their article: “Melcor REIT Announces $15.25 Million Property Acquisition from Melcor …” published on November 09, 2015 as well as Marketwatch.com‘s news article titled: “/quotes/zigman/3870025/realtime” with publication date: September 03, 2011.
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By Nellie Frank