Allspring Global Investments Holdings LLC Sells 42,031 Shares of Addus HomeCare Corporation (NASDAQ:ADUS)

Allspring Global Investments Holdings LLC trimmed its stake in shares of Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) by 59.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,307 shares of the company's stock after selling 42,031 shares during the period. Allspring Global Investments Holdings LLC owned about 0.16% of Addus HomeCare worth $2,799,000 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 the stock. Natixis grew 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 purchasing an additional 132 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Addus HomeCare by 324.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock valued at $35,000 after buying an additional 214 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Addus HomeCare during the fourth quarter worth approximately $77,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Addus HomeCare in the fourth quarter valued at about $86,000. Finally, Cibc World Markets Corp acquired a new position in shares of Addus HomeCare during the 4th quarter worth approximately $204,000. 95.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ADUS. JMP Securities reiterated a "market outperform" rating and set a $150.00 target price on shares of Addus HomeCare in a research report on Friday, June 20th. Wall Street Zen upgraded shares of Addus HomeCare from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Macquarie restated an "outperform" rating and issued a $133.00 target price on shares of Addus HomeCare in a research report on Tuesday, June 10th. Finally, Stephens reiterated an "overweight" rating and set a $142.00 price target on shares of Addus HomeCare in a research report on Wednesday, March 12th. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $142.57.

Insider Activity

In related news, EVP Michael D. Wattenbarger sold 2,045 shares of Addus HomeCare stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $115.00, for a total value of $235,175.00. Following the transaction, the executive vice president directly owned 7,796 shares of the company's stock, valued at $896,540. The trade was a 20.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.60% of the company's stock.

Addus HomeCare Price Performance

Shares of ADUS traded down $1.24 during trading hours on Monday, reaching $110.62. The stock had a trading volume of 139,626 shares, compared to its average volume of 166,145. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.74 and a current ratio of 1.74. Addus HomeCare Corporation has a 12 month low of $88.96 and a 12 month high of $136.72. The stock has a market capitalization of $2.04 billion, a PE ratio of 24.97, a PEG ratio of 1.58 and a beta of 0.81. The company's 50-day moving average is $111.60 and its two-hundred day moving average is $111.00.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last released 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 return on equity of 9.23% and a net margin of 6.52%. The company had revenue of $337.71 million for the quarter, compared to analysts' expectations of $341.66 million. During the same period in the previous year, the business posted $1.21 earnings per share. The business's quarterly revenue was up 20.3% compared to the same quarter last year. Research analysts expect that Addus HomeCare Corporation will post 4.59 EPS for the current year.

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.