Concentra Group Holdings Parent (NYSE:CON) Director Sells $3,965,000.00 in Stock

Key Points

• Director Robert Ortenzio sold 130,000 shares of Concentra Group Holdings Parent stock for about $3.97 million at an average price of $30.50, reducing his stake by 17.03%. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Concentra recently reported strong quarterly results, with earnings of $0.40 per share beating estimates of $0.35 and revenue of $569.55 million topping expectations. Revenue rose 13.7% year over year, and analysts now expect full-year EPS of 1.52.
• Analysts remain generally upbeat on the stock, with a Moderate Buy consensus and a target price of $30.20. The company also pays a quarterly dividend of $0.0625 per share, or $0.25 annualized, for a yield of about 0.8%.

Concentra Group Holdings Parent, Inc. (NYSE:CON - Get Free Report) Director Robert Ortenzio sold 130,000 shares of the firm's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $30.50, for a total transaction of $3,965,000.00. Following the completion of the sale, the director owned 633,455 shares of the company's stock, valued at approximately $19,320,377.50. The trade was a 17.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Concentra Group Holdings Parent Stock Performance

Shares of CON stock traded down $0.08 during trading hours on Monday, reaching $31.83. 1,036,412 shares of the company's stock were exchanged, compared to its average volume of 912,966. The company has a debt-to-equity ratio of 3.62, a current ratio of 1.26 and a quick ratio of 1.26. The company's 50 day moving average is $26.27 and its two-hundred day moving average is $23.42. The company has a market cap of $4.07 billion, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 1.45 and a beta of 0.64. Concentra Group Holdings Parent, Inc. has a 1 year low of $18.55 and a 1 year high of $32.35.

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

Concentra Group Holdings Parent Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were given a dividend of $0.0625 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.25 dividend on an annualized basis and a yield of 0.8%. Concentra Group Holdings Parent's payout ratio is presently 17.99%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Truist Financial reiterated a "buy" rating and set a $31.00 target price (up from $29.00) on shares of Concentra Group Holdings Parent in a report on Monday, May 11th. William Blair started coverage on Concentra Group Holdings Parent in a research report on Wednesday, July 1st. They issued an "outperform" rating on the stock. The Goldman Sachs Group began coverage on Concentra Group Holdings Parent in a research report on Friday, June 5th. They set a "buy" rating and a $30.00 price objective for the company. Finally, Weiss Ratings raised shares of Concentra Group Holdings Parent from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.20.

Hedge Funds Weigh In On Concentra Group Holdings Parent

Several large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its position in shares of Concentra Group Holdings Parent by 124.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company's stock valued at $25,000 after acquiring an additional 663 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Concentra Group Holdings Parent by 2,784.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,442 shares of the company's stock valued at $30,000 after acquiring an additional 1,392 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Concentra Group Holdings Parent by 49.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,604 shares of the company's stock worth $34,000 after buying an additional 528 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Concentra Group Holdings Parent in the 4th quarter valued at about $35,000. Finally, Osaic Holdings Inc. lifted its stake in Concentra Group Holdings Parent by 59.5% during the second quarter. Osaic Holdings Inc. now owns 2,041 shares of the company's stock valued at $42,000 after purchasing an additional 761 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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