Kore Advisors LP Acquires Shares of 241,551 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 acquired a new stake in shares of Target Hospitality Corp. (NASDAQ:TH - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 241,551 shares of the company's stock, valued at approximately $1,589,000. Target Hospitality comprises 1.4% of Kore Advisors LP's portfolio, making the stock its 8th largest holding. Kore Advisors LP owned approximately 0.24% of Target Hospitality as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its stake in Target Hospitality by 37.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 41,942 shares of the company's stock valued at $276,000 after acquiring an additional 11,536 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Target Hospitality by 59.6% during the 1st quarter. Teacher Retirement System of Texas now owns 446,649 shares of the company's stock worth $2,939,000 after buying an additional 166,815 shares in the last quarter. Fortitude Advisory Group L.L.C. purchased a new position in shares of Target Hospitality during the 1st quarter worth approximately $334,000. Aristides Capital LLC purchased a new position in shares of Target Hospitality during the 1st quarter worth approximately $332,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Target Hospitality by 420.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 199,358 shares of the company's stock worth $1,927,000 after buying an additional 161,036 shares in the last quarter. 32.40% of the stock is owned by hedge funds and other institutional investors.

Target Hospitality Trading Up 0.4%

Shares of TH stock traded up $0.04 during mid-day trading on Monday, hitting $9.07. 399,555 shares of the company's stock were exchanged, compared to its average volume of 514,501. Target Hospitality Corp. has a fifty-two week low of $4.00 and a fifty-two week high of $11.10. The stock has a 50-day simple moving average of $7.88 and a two-hundred day simple moving average of $7.17. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.07. The stock has a market cap of $905.00 million, a price-to-earnings ratio of 90.70 and a beta of 2.00.

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

Analyst Upgrades and Downgrades

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

About Target Hospitality

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.