Martingale Asset Management L P Has $1.45 Million Stake in Addus HomeCare Corporation $ADUS

Key Points

• Martingale Asset Management L P reduced its stake in Addus HomeCare Corporation by 23.5%, owning 14,628 shares valued at approximately $1.45 million after selling 4,484 shares.
• Other institutional investors have also adjusted their holdings, with Bank of America increasing its position by 273.6% in the last quarter, indicating heightened interest in the company.
• Addus HomeCare reported $1.49 earnings per share for its most recent quarter, surpassing estimates and reflecting a 21.8% increase in revenue compared to the same period last year.

Martingale Asset Management L P reduced its stake in shares of Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) by 23.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,628 shares of the company's stock after selling 4,484 shares during the quarter. Martingale Asset Management L P owned about 0.08% of Addus HomeCare worth $1,447,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ADUS. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Addus HomeCare during the first quarter worth about $41,000. Quantbot Technologies LP acquired a new position in Addus HomeCare during the first quarter worth about $907,000. Wellington Management Group LLP increased its stake in Addus HomeCare by 25.8% in the 1st quarter. Wellington Management Group LLP now owns 471,935 shares of the company's stock worth $46,670,000 after purchasing an additional 96,823 shares in the last quarter. Northern Trust Corp boosted its stake in Addus HomeCare by 6.7% in the 1st quarter. Northern Trust Corp now owns 305,109 shares of the company's stock worth $30,172,000 after purchasing an additional 19,237 shares during the period. Finally, Versor Investments LP raised its stake in Addus HomeCare by 35.7% during the 1st quarter. Versor Investments LP now owns 5,200 shares of the company's stock valued at $514,000 after purchasing an additional 1,368 shares during the period. 95.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. TD Cowen lifted their price target on Addus HomeCare from $135.00 to $139.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Royal Bank Of Canada boosted their price objective on shares of Addus HomeCare from $133.00 to $134.00 and gave the company an "outperform" rating in a research report on Friday. Barclays increased their target price on shares of Addus HomeCare from $83.00 to $109.00 and gave the stock an "underweight" rating in a research report on Tuesday, August 19th. Macquarie restated an "outperform" rating and set a $133.00 price target on shares of Addus HomeCare in a report on Tuesday, June 10th. Finally, Wall Street Zen raised shares of Addus HomeCare from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $138.38.

Addus HomeCare Stock Performance

Shares of NASDAQ ADUS traded down $2.50 during mid-day trading on Tuesday, hitting $114.15. The company had a trading volume of 102,299 shares, compared to its average volume of 203,027. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.74 and a quick ratio of 1.74. The business's 50-day simple moving average is $112.02 and its 200-day simple moving average is $106.95. Addus HomeCare Corporation has a 12 month low of $88.96 and a 12 month high of $136.72. The firm has a market cap of $2.10 billion, a P/E ratio of 25.20, a PEG ratio of 1.78 and a beta of 0.80.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04. Addus HomeCare had a net margin of 6.51% and a return on equity of 9.39%. The business had revenue of $349.44 million during the quarter, compared to analysts' expectations of $345.71 million. During the same quarter last year, the company earned $1.35 earnings per share. The firm's revenue was up 21.8% on a year-over-year basis. As a group, analysts predict that Addus HomeCare Corporation will post 4.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO R Dirk Allison sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $114.95, for a total transaction of $2,873,750.00. Following the completion of the sale, the chief executive officer owned 166,461 shares of the company's stock, valued at approximately $19,134,691.95. This trade represents a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Brian Poff sold 7,739 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $116.82, for a total transaction of $904,069.98. Following the sale, the executive vice president directly owned 56,980 shares of the company's stock, valued at approximately $6,656,403.60. The trade was a 11.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,310 shares of company stock worth $3,958,375 over the last quarter. Company insiders own 4.50% of the company's stock.

Addus HomeCare Company Profile

Addus HomeCare Corporation, together with its subsidiaries, provides personal care services to elderly, chronically ill, disabled persons, and individuals who are at risk of hospitalization or institutionalization in the United States. The company operates through three segments: Personal Care, Hospice, and Home Health.