First Mercantile Trust Co Lowers stake in DTS (DTSI)

DTS (DTSI) : First Mercantile Trust Co reduced its stake in DTS by 8.44% during the most recent quarter end. The investment management company now holds a total of 13,571 shares of DTS which is valued at $574,053 after selling 1,251 shares in DTS , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.DTS makes up approximately 0.08% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Simplex Trading added DTSI to its portfolio by purchasing 596 company shares during the most recent quarter which is valued at $25,211.Bnp Paribas Arbitrage Sa reduced its stake in DTSI by selling 2,746 shares or 50.94% in the most recent quarter. The Hedge Fund company now holds 2,645 shares of DTSI which is valued at $112,174.

DTS closed down -0.13 points or -0.31% at $42.3 with 91,623 shares getting traded on Friday. Post opening the session at $42.44, the shares hit an intraday low of $42.23 and an intraday high of $42.44 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, DTS reported $0.67 EPS for the quarter, beating the analyst consensus estimate by $ 0.18 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $0.49. The company had revenue of $48.70 million for the quarter, compared to analysts expectations of $44.55 million. The company’s revenue was up 41.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.

Many Wall Street Analysts have commented on DTS. DTS was Downgraded by Dougherty & Company to ” Neutral” on Sep 21, 2016. Company shares were Reiterated by Barrington Research on Aug 11, 2016 to “Outperform”, Firm has raised the Price Target to $ 40 from a previous price target of $29 .Company shares were Reiterated by Dougherty & Company on Aug 9, 2016 to “Buy”, Firm has raised the Price Target to $ 40 from a previous price target of $38 .

DTS Inc. is an audio technology solutions provider for high-definition entertainment experiences. The Company’s audio solutions are designed to enable recording delivery and playback of high-definition audio and are included by licensee customers around the world into a range of consumer electronics devices including televisions (TVs) personal computers (PCs) smartphones tablets digital media players (DMPs) set-top-boxes soundbars wireless speakers video game consoles Blu-ray Disc players automotive audio systems audio video receivers (AVRs) digital versatile disc (DVD)-based products and home theater systems. The Company’s end-to-end audio solutions include DTS-HD DTS-HD Master Audio DTS Sound DTS Studio Sound DTS-HD Premium Sound DTS TruSurround DTS Neural Surround DTS Headphone:X DTS Play-Fi and DTS:X.

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