Concentra Group Holdings Parent (NYSE:CON) Director Robert Ortenzio Sells 130,000 Shares of Stock

Key Points

• Director Robert Ortenzio sold 130,000 shares of Concentra Group Holdings Parent at an average price of $31.84, generating $4.14 million. The Rule 10b5-1 transaction reduced his ownership by 20.52%, leaving him with 503,455 shares.
• Concentra recently reported quarterly EPS of $0.40, beating estimates of $0.35, while revenue rose 13.7% year over year to $569.55 million. Shares traded at $30.64, near their 52-week high of $32.86.
• Analyst sentiment remains favorable, with seven Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $31.40; Truist recently raised its target to $37.

Concentra Group Holdings Parent, Inc. (NYSE:CON - Get Free Report) Director Robert Ortenzio sold 130,000 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $31.84, for a total value of $4,139,200.00. Following the sale, the director owned 503,455 shares of the company's stock, valued at approximately $16,030,007.20. This trade represents a 20.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Concentra Group Holdings Parent Price Performance

Shares of Concentra Group Holdings Parent stock traded down $0.48 during mid-day trading on Wednesday, reaching $30.64. 1,449,727 shares of the stock traded hands, compared to its average volume of 901,016. The stock has a market capitalization of $3.92 billion, a PE ratio of 22.05, a PEG ratio of 1.45 and a beta of 0.62. The business has a 50-day moving average of $29.42 and a 200 day moving average of $25.23. Concentra Group Holdings Parent, Inc. has a fifty-two week low of $18.55 and a fifty-two week high of $32.86. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.62.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.05. Concentra Group Holdings Parent had a return on equity of 47.14% and a net margin of 7.97%.The firm had revenue of $569.55 million for the quarter, compared to analyst estimates of $553.53 million. During the same period in the previous year, the company posted $0.32 earnings per share. The business's revenue was up 13.7% on a year-over-year basis. On average, analysts predict that Concentra Group Holdings Parent, Inc. will post 1.52 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on CON. Truist Financial increased their target price on shares of Concentra Group Holdings Parent from $31.00 to $37.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Weiss Ratings upgraded Concentra Group Holdings Parent from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 11th. William Blair initiated coverage on Concentra Group Holdings Parent in a report on Wednesday, July 1st. They set an "outperform" rating on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Concentra Group Holdings Parent in a research report on Friday, June 5th. They set a "buy" rating and a $30.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.40.

Institutional Investors Weigh In On Concentra Group Holdings Parent

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CON. Tributary Capital Management LLC increased its position in shares of Concentra Group Holdings Parent by 12.4% during the 4th quarter. Tributary Capital Management LLC now owns 566,839 shares of the company's stock worth $11,155,000 after purchasing an additional 62,573 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new position in Concentra Group Holdings Parent in the fourth quarter valued at about $1,240,000. Norges Bank purchased a new position in Concentra Group Holdings Parent during the fourth quarter worth about $43,404,000. First Eagle Investment Management LLC boosted its stake in Concentra Group Holdings Parent by 18.4% during the fourth quarter. First Eagle Investment Management LLC now owns 383,206 shares of the company's stock worth $7,541,000 after buying an additional 59,500 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Concentra Group Holdings Parent by 168.4% during the fourth quarter. SG Americas Securities LLC now owns 60,711 shares of the company's stock valued at $1,195,000 after acquiring an additional 38,093 shares during the last quarter.

Concentra Group Holdings Parent Company Profile

Concentra Group Holdings Parent NYSE: CON is a Canada-based financial services holding company that specializes in serving Canadian credit unions and their members. Through its operating subsidiaries, the group provides wholesale funding, lending solutions and investment management services tailored to the unique needs of cooperative financial institutions. Concentra’s broad suite of offerings includes trust and custody services, mortgage investment products and equipment financing, all designed to support credit-union growth and stability.

In addition to wholesale funding and lending, Concentra Group Holdings Parent distributes life and general insurance products through affiliated insurance brokers and credit-union channels.

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