MQS Management LLC Has $212,000 Stake in Dolby Laboratories, Inc. (NYSE:DLB)

MQS Management LLC trimmed its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 70.7% in the third quarter, Holdings Channel reports. The institutional investor owned 2,766 shares of the electronics maker’s stock after selling 6,677 shares during the period. MQS Management LLC’s holdings in Dolby Laboratories were worth $212,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DLB. Blue Trust Inc. increased its stake in Dolby Laboratories by 398.8% in the second quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock valued at $35,000 after acquiring an additional 331 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Dolby Laboratories in the second quarter valued at approximately $37,000. GAMMA Investing LLC increased its stake in Dolby Laboratories by 64.6% in the second quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock valued at $39,000 after acquiring an additional 192 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Dolby Laboratories by 192.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker’s stock valued at $46,000 after acquiring an additional 379 shares during the last quarter. Finally, Headlands Technologies LLC increased its stake in Dolby Laboratories by 693.3% in the first quarter. Headlands Technologies LLC now owns 595 shares of the electronics maker’s stock valued at $50,000 after acquiring an additional 520 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Dolby Laboratories Stock Performance

NYSE DLB opened at $71.73 on Friday. The firm’s fifty day moving average price is $73.62 and its two-hundred day moving average price is $76.17. The stock has a market cap of $6.84 billion, a PE ratio of 32.75 and a beta of 0.98. Dolby Laboratories, Inc. has a fifty-two week low of $66.35 and a fifty-two week high of $90.06.

Dolby Laboratories announced that its Board of Directors has authorized a stock repurchase program on Wednesday, August 7th that allows the company to repurchase $350.00 million in outstanding shares. This repurchase authorization allows the electronics maker to reacquire up to 5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 28,512 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the sale, the chief executive officer now owns 83,721 shares of the company’s stock, valued at approximately $6,205,400.52. The trade was a 25.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 39.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DLB shares. Barrington Research reissued an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Friday, September 20th. StockNews.com raised shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 8th.

About Dolby Laboratories

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.