Acadian Asset Management LLC Raises Stock Holdings in Dolby Laboratories $DLB

Acadian Asset Management LLC increased its holdings in shares of Dolby Laboratories (NYSE:DLB) by 1.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,160,661 shares of the electronics maker’s stock after acquiring an additional 19,840 shares during the period. Acadian Asset Management LLC owned about 1.21% of Dolby Laboratories worth $86,172,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Cheviot Value Management LLC purchased a new stake in Dolby Laboratories in the first quarter worth $27,000. MAI Capital Management grew its holdings in shares of Dolby Laboratories by 87.1% in the first quarter. MAI Capital Management now owns 348 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 162 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Dolby Laboratories in the 1st quarter worth about $29,000. Ameritas Advisory Services LLC purchased a new position in Dolby Laboratories in the 2nd quarter worth about $48,000. Finally, Atlantic Union Bankshares Corp bought a new stake in Dolby Laboratories during the 2nd quarter valued at about $50,000. Institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Price Performance

Shares of DLB stock opened at $65.11 on Friday. The stock’s 50-day moving average is $69.89 and its 200 day moving average is $73.03. Dolby Laboratories has a 1-year low of $64.38 and a 1-year high of $89.66. The company has a market cap of $6.24 billion, a P/E ratio of 23.85 and a beta of 0.97.

Analyst Ratings Changes

A number of equities analysts have recently commented on DLB shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dolby Laboratories in a research report on Wednesday, October 8th. Barrington Research reaffirmed an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Friday, September 12th. Tigress Financial upped their target price on Dolby Laboratories from $112.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Baird R W upgraded Dolby Laboratories to a “hold” rating in a research note on Friday, September 5th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Dolby Laboratories in a research note on Friday, August 1st. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.75.

Insider Transactions at Dolby Laboratories

In other Dolby Laboratories news, SVP Shriram Revankar sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $74.92, for a total value of $524,440.00. Following the completion of the sale, the senior vice president directly owned 70,435 shares in the company, valued at $5,276,990.20. This trade represents a 9.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin J. Yeaman sold 25,000 shares of Dolby Laboratories stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $68.87, for a total transaction of $1,721,750.00. Following the completion of the transaction, the chief executive officer directly owned 114,725 shares in the company, valued at $7,901,110.75. This represents a 17.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 82,000 shares of company stock worth $5,845,440 over the last 90 days. Company insiders own 38.39% of the company’s stock.

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.