Connor Clark & Lunn Investment Management Ltd. Purchases 7,903 Shares of Addus HomeCare Corporation $ADUS

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Addus HomeCare Corporation by 57.7%, now holding approximately 21,598 shares valued at about $2.14 million.
• Addus HomeCare reported earnings of $1.49 EPS for the last quarter, exceeding expectations by $0.04, with a 21.8% year-over-year revenue increase of $349.44 million.
• Various analysts have issued optimistic ratings on Addus HomeCare, with target prices ranging from $133.00 to $150.00 and a consensus rating of "Buy."

Connor Clark & Lunn Investment Management Ltd. raised its position in Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) by 57.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,598 shares of the company's stock after buying an additional 7,903 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.12% of Addus HomeCare worth $2,136,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADUS. Natixis boosted its position in Addus HomeCare by 111.9% in the fourth quarter. Natixis now owns 250 shares of the company's stock valued at $31,000 after buying an additional 132 shares in the last quarter. Bailard Inc. bought a new position in shares of Addus HomeCare in the first quarter worth about $208,000. Heritage Family Offices LLP raised its stake in shares of Addus HomeCare by 6.3% in the first quarter. Heritage Family Offices LLP now owns 2,417 shares of the company's stock worth $239,000 after acquiring an additional 143 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Addus HomeCare by 52.4% in the first quarter. Private Advisor Group LLC now owns 2,546 shares of the company's stock worth $252,000 after acquiring an additional 875 shares during the last quarter. Finally, Hohimer Wealth Management LLC raised its stake in shares of Addus HomeCare by 6.3% in the first quarter. Hohimer Wealth Management LLC now owns 2,561 shares of the company's stock worth $253,000 after acquiring an additional 152 shares during the last quarter. 95.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Addus HomeCare news, EVP Michael D. Wattenbarger sold 2,045 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $115.00, for a total value of $235,175.00. Following the completion of the sale, the executive vice president owned 7,796 shares of the company's stock, valued at approximately $896,540. This represents a 20.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.50% of the company's stock.

Addus HomeCare Trading Down 0.2%

Shares of ADUS traded down $0.2650 on Tuesday, reaching $113.9250. 23,665 shares of the company's stock were exchanged, compared to its average volume of 192,652. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.10 billion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 1.75 and a beta of 0.80. The business has a 50 day moving average price of $111.86 and a two-hundred day moving average price of $107.10. Addus HomeCare Corporation has a 12 month low of $88.96 and a 12 month high of $136.72.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $345.71 million. During the same period in the previous year, the firm posted $1.35 earnings per share. Addus HomeCare's revenue for the quarter was up 21.8% compared to the same quarter last year. Research analysts anticipate that Addus HomeCare Corporation will post 4.59 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ADUS shares. JMP Securities reaffirmed a "market outperform" rating and issued a $150.00 target price on shares of Addus HomeCare in a research note on Wednesday, July 16th. Macquarie reaffirmed an "outperform" rating and issued a $133.00 target price on shares of Addus HomeCare in a research note on Tuesday, June 10th. Barclays reaffirmed an "underweight" rating and issued a $109.00 target price (up from $83.00) on shares of Addus HomeCare in a research note on Tuesday. Wall Street Zen raised shares of Addus HomeCare from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Finally, TD Cowen boosted their target price on shares of Addus HomeCare from $135.00 to $139.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $138.63.

About Addus HomeCare

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.