Kore Advisors LP Invests $1.59 Million in Target Hospitality Corp. $TH

Key Points

• Kore Advisors LP acquired 241,551 shares of Target Hospitality Corp. in Q1 2023, valued at approximately $1,589,000, making it the firm's 8th largest holding.
• Target Hospitality has received recent analyst upgrades, with Stifel Nicolaus raising its rating from "hold" to "buy" and setting a price target of $11.00.
• Despite reporting an earnings miss, with EPS of ($0.15) compared to the expected ($0.11), the company achieved revenue of $61.61 million, exceeding analyst estimates.

Kore Advisors LP bought a new position in shares of Target Hospitality Corp. (NASDAQ:TH - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 241,551 shares of the company's stock, valued at approximately $1,589,000. Target Hospitality comprises approximately 1.4% of Kore Advisors LP's portfolio, making the stock its 8th biggest position. Kore Advisors LP owned approximately 0.24% of Target Hospitality at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Two Sigma Advisers LP bought a new stake in shares of Target Hospitality during the fourth quarter worth $105,000. XTX Topco Ltd bought a new stake in Target Hospitality in the fourth quarter valued at about $113,000. Price T Rowe Associates Inc. MD increased its holdings in Target Hospitality by 15.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,318 shares of the company's stock valued at $119,000 after purchasing an additional 1,650 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Target Hospitality by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 15,394 shares of the company's stock valued at $149,000 after purchasing an additional 5,246 shares during the last quarter. Finally, Royce & Associates LP increased its holdings in Target Hospitality by 44.0% in the first quarter. Royce & Associates LP now owns 15,783 shares of the company's stock valued at $104,000 after purchasing an additional 4,819 shares during the last quarter. Institutional investors own 32.40% of the company's stock.

Target Hospitality Stock Performance

Shares of TH stock traded down $0.26 during trading on Tuesday, hitting $8.82. The company's stock had a trading volume of 64,847 shares, compared to its average volume of 602,596. The company has a market cap of $879.56 million, a PE ratio of 88.17 and a beta of 2.00. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.07. The business has a fifty day moving average of $7.92 and a 200-day moving average of $7.17. Target Hospitality Corp. has a 52 week low of $4.00 and a 52 week high of $11.10.

Target Hospitality (NASDAQ:TH - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.04). Target Hospitality had a net margin of 3.58% and a return on equity of 3.26%. The firm had revenue of $61.61 million for the quarter, compared to the consensus estimate of $56.43 million. Target Hospitality has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Target Hospitality Corp. will post 0.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TH. Wall Street Zen upgraded Target Hospitality from a "sell" rating to a "hold" rating in a report on Friday, August 22nd. Stifel Nicolaus upgraded Target Hospitality from a "hold" rating to a "buy" rating and increased their price target for the stock from $7.50 to $11.00 in a report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Target Hospitality has a consensus rating of "Buy" and an average price target of $13.00.

Target Hospitality Company Profile

Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America. The company operates through two segments, Hospitality & Facilities Services - South and Government. It owns a network of specialty rental accommodation units. In addition, the company provides catering and food, maintenance, housekeeping, grounds-keeping, security, health and recreation facilities, workforce community management, concierge, and laundry services.