171,542 Public Policy Holding Company, Inc. $PPHC Shares Sold by Canoe Financial LP

Key Points

• Canoe Financial reduced its Public Policy Holding stake by 16.9%, selling 171,542 shares and retaining 846,190 shares worth approximately $8.9 million, or 2.78% of the company.
• Analyst sentiment is mixed: two analysts rate the stock Buy, one rates it Hold, and one rates it Sell. The consensus rating is Hold, with an average price target of $17 versus the reported share price of $9.61.
• Public Policy reported quarterly revenue of $52.14 million and earnings of $0.34 per share, while announcing a $0.117-per-share dividend. The article reports a 212% dividend yield and a 209.09% payout ratio.

Canoe Financial LP decreased its stake in shares of Public Policy Holding Company, Inc. (NASDAQ:PPHC - Free Report) by 16.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 846,190 shares of the company's stock after selling 171,542 shares during the quarter. Canoe Financial LP owned about 2.78% of Public Policy worth $8,902,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Copeland Capital Management LLC acquired a new stake in shares of Public Policy during the third quarter worth $83,000. State Street Corp acquired a new position in shares of Public Policy in the 2nd quarter valued at $375,000. Finally, Ancora Advisors LLC acquired a new position in shares of Public Policy in the 2nd quarter valued at $1,869,000.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PPHC shares. Weiss Ratings upgraded Public Policy from a "sell (e)" rating to a "sell (d-)" rating in a research note on Tuesday, October 13th. Wall Street Zen upgraded Public Policy from a "hold" rating to a "buy" rating in a research note on Saturday, August 29th. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $18.00 price target on shares of Public Policy in a research note on Wednesday, July 8th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Public Policy presently has an average rating of "Hold" and an average target price of $17.00.

Public Policy Stock Down 1.1%

PPHC opened at $9.61 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.60 and a quick ratio of 1.60. Public Policy Holding Company, Inc. has a 12-month low of $7.01 and a 12-month high of $15.15. The firm has a 50 day moving average of $10.93 and a two-hundred day moving average of $10.91.

Public Policy (NASDAQ:PPHC - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The company reported $0.34 earnings per share for the quarter. The firm had revenue of $52.14 million for the quarter. Public Policy had a negative net margin of 18.85% and a negative return on equity of 0.26%. On average, equities research analysts expect that Public Policy Holding Company, Inc. will post 0.50 earnings per share for the current fiscal year.

Public Policy Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, September 25th will be paid a dividend of $0.1170 per share. The ex-dividend date is Friday, September 25th. This represents a dividend yield of 212.0%. Public Policy's dividend payout ratio (DPR) is presently 209.09%.

About Public Policy

Public Policy Holding Company, Inc NASDAQ: PPHC is a public affairs and government relations company that provides strategic advisory, lobbying, communications and public policy services to organizations operating in the United States. The company works with businesses, trade associations, nonprofit organizations and other institutions seeking to understand and engage with government and regulatory processes.

PPHC operates through a portfolio of specialized public policy and communications firms.

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