Allspring Global Investments Holdings LLC Increases Holdings in Addus HomeCare Corporation $ADUS

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Addus HomeCare Corporation by 162.5% during the second quarter, owning approximately 0.40% of the company worth $8.56 million after acquiring additional shares.
• Analysts have set a new average target price of $137.50 for Addus HomeCare, with ratings ranging from "Strong Buy" to "Sell" as several firms raised target prices in recent reports.
• Addus HomeCare reported $1.49 earnings per share for the last quarter, exceeding analyst expectations, alongside a revenue increase of 21.8% year-over-year.

Allspring Global Investments Holdings LLC increased its stake in shares of Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) by 162.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 74,317 shares of the company's stock after buying an additional 46,010 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.40% of Addus HomeCare worth $8,561,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ADUS. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Addus HomeCare during the first quarter worth approximately $41,000. CWM LLC lifted its position in Addus HomeCare by 25.3% during the second quarter. CWM LLC now owns 554 shares of the company's stock worth $64,000 after buying an additional 112 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Addus HomeCare by 368.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,255 shares of the company's stock worth $124,000 after buying an additional 987 shares in the last quarter. GAMMA Investing LLC lifted its position in Addus HomeCare by 26.4% during the second quarter. GAMMA Investing LLC now owns 1,673 shares of the company's stock worth $193,000 after buying an additional 349 shares in the last quarter. Finally, Bailard Inc. purchased a new position in Addus HomeCare during the first quarter worth approximately $208,000. Hedge funds and other institutional investors own 95.35% of the company's stock.

Analysts Set New Price Targets

ADUS has been the subject of several recent analyst reports. TD Cowen raised their target price on Addus HomeCare from $135.00 to $139.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Stephens reissued an "overweight" rating and set a $140.00 target price on shares of Addus HomeCare in a research note on Wednesday, September 3rd. Royal Bank Of Canada raised their target price on Addus HomeCare from $133.00 to $134.00 and gave the stock an "outperform" rating in a research note on Friday, August 22nd. Wall Street Zen raised Addus HomeCare from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Finally, Barclays raised their target price on Addus HomeCare from $83.00 to $109.00 and gave the stock an "underweight" rating in a research note on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $137.50.

Addus HomeCare Trading Up 1.0%

Shares of NASDAQ ADUS opened at $118.31 on Monday. Addus HomeCare Corporation has a twelve month low of $88.96 and a twelve month high of $136.72. 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 fifty day simple moving average of $114.10 and a 200-day simple moving average of $110.66. The stock has a market capitalization of $2.18 billion, a PE ratio of 26.12, a PEG ratio of 1.80 and a beta of 0.86.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.04. Addus HomeCare had a return on equity of 9.39% and a net margin of 6.51%.The business had revenue of $349.44 million during the quarter, compared to analysts' expectations of $345.71 million. During the same period in the previous year, the firm posted $1.35 earnings per share. The company's revenue was up 21.8% on a year-over-year basis. On average, equities analysts forecast that Addus HomeCare Corporation will post 4.59 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO R Dirk Allison sold 25,000 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $114.95, for a total transaction of $2,873,750.00. Following the completion of the transaction, the chief executive officer directly owned 166,461 shares of the company's stock, valued at $19,134,691.95. The trade was a 13.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brian Poff sold 7,739 shares of the business's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $116.82, for a total value of $904,069.98. Following the transaction, the executive vice president directly owned 56,980 shares of the company's stock, valued at $6,656,403.60. The trade was a 11.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,310 shares of company stock valued at $3,958,375 in the last three months. 4.50% of the stock is owned by corporate insiders.

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.

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