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PR Newswire (Dec 10, 2013)
PR Newswire (Oct 28, 2013)
PR Newswire (Oct 17, 2013)
ClubCorp Holdings, Inc. Announces Third Quarter 2013 Earnings Release Date and Conference Call InformationPR Newswire (Oct 10, 2013)
PR Newswire (Oct 2, 2013)
PR Newswire (Sep 25, 2013)
MYCC vs. ETF Alternatives
Dallas-based ClubCorp was founded in 1957. ClubCorp owns or operates a portfolio of more than 150 golf and country clubs, business clubs, sports clubs and alumni clubs in 25 states, the District of Columbia and two foreign countries. More
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Tuesday, Oct 1510:18 AM| Comment!
- ClubCorp (MYCC +1.7%) is initiated to a round of applause by the Street, with 6 out of 6 Buy ratings and a split of $18 and $20 PTs. Analysts are enthused by organic and M&A growth potential, a recurring subscription-based revenue model, and valuation.
- Jefferies believes the golf, country, alumni, and business club operator is "in a league of its own at the cross-roads of numerous avenues of discretionary leisure spend ... MYCC generates steady, recurring revenue and boasts visible organic and external growth opportunities."
- MKM Partners notes that management plans a $0.48 annual dividend beginning in 2014 (implied forward dividend yield of 3.3%) and may reduce high-yield callable debt to boost FCF. "MYCC has identified internal projects such as club 'reinventions' and pursues bolt-on M&A deals, which we believe have potential in a fragmented industry. In sum, we see encouraging parallels to the Wyndham Worldwide story, a steady performer in an unappreciated industry."