Allspring Global Investments Holdings LLC Decreases Stake in Addus HomeCare Corporation (NASDAQ:ADUS)

Allspring Global Investments Holdings LLC decreased its position in Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) by 59.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,307 shares of the company's stock after selling 42,031 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.16% of Addus HomeCare worth $2,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Amundi grew its holdings in Addus HomeCare by 185.9% during the 4th quarter. Amundi now owns 9,008 shares of the company's stock valued at $1,139,000 after purchasing an additional 5,857 shares during the last quarter. King Luther Capital Management Corp bought a new position in Addus HomeCare during the 4th quarter valued at about $4,223,000. Victory Capital Management Inc. grew its holdings in Addus HomeCare by 14.0% during the 4th quarter. Victory Capital Management Inc. now owns 96,832 shares of the company's stock valued at $12,138,000 after purchasing an additional 11,872 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Addus HomeCare by 9.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 42,698 shares of the company's stock valued at $5,352,000 after purchasing an additional 3,659 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Addus HomeCare by 324.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock valued at $35,000 after purchasing an additional 214 shares during the last quarter. Institutional investors own 95.35% of the company's stock.

Insider Buying and Selling

In related news, EVP Michael D. Wattenbarger sold 2,045 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $115.00, for a total transaction 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 $896,540. This represents a 20.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.60% of the stock is owned by insiders.

Addus HomeCare Stock Down 1.9%

Shares of ADUS traded down $2.21 during mid-day trading on Thursday, hitting $112.20. The company's stock had a trading volume of 147,998 shares, compared to its average volume of 165,987. The company's 50-day moving average is $112.17 and its 200-day moving average is $110.89. Addus HomeCare Corporation has a 52-week low of $88.96 and a 52-week high of $136.72. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 1.59 and a beta of 0.81. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.20.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.09. Addus HomeCare had a net margin of 6.52% and a return on equity of 9.23%. The firm had revenue of $337.71 million during the quarter, compared to analysts' expectations of $341.66 million. During the same quarter in the prior year, the company earned $1.21 EPS. The company's revenue was up 20.3% compared to the same quarter last year. On average, equities research analysts forecast that Addus HomeCare Corporation will post 4.59 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on ADUS. JMP Securities reissued a "market outperform" rating and issued a $150.00 price objective on shares of Addus HomeCare in a research report on Friday, June 20th. Stephens reissued an "overweight" rating and issued a $142.00 price objective on shares of Addus HomeCare in a research report on Wednesday, March 12th. Wall Street Zen raised shares of Addus HomeCare from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. Finally, Macquarie reissued an "outperform" rating and issued a $133.00 price objective on shares of Addus HomeCare in a research report on Tuesday, June 10th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $142.57.

Addus HomeCare 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.