American Century Companies Inc. Reduces Stock Position in Addus HomeCare Corporation $ADUS

Key Points

• American Century Companies Inc. reduced its stake in Addus HomeCare Corporation by 90%, selling 255,813 shares and retaining only 28,533 shares, valued at approximately $2.82 million.
• Several institutional investors, including Sit Investment Associates and Caitong International Asset Management, increased their holdings in Addus HomeCare during the same period, indicating continued interest in the company.
• Addus HomeCare reported strong financial results, with a 21.8% increase in revenue year-over-year, and earnings of $1.49 per share, exceeding analysts' expectations.

American Century Companies Inc. trimmed its holdings in Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) by 90.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,533 shares of the company's stock after selling 255,813 shares during the period. American Century Companies Inc. owned 0.16% of Addus HomeCare worth $2,822,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Premier Fund Managers Ltd acquired a new stake in Addus HomeCare in the 1st quarter worth about $726,000. Deutsche Bank AG boosted its stake in Addus HomeCare by 50.0% in the 4th quarter. Deutsche Bank AG now owns 16,354 shares of the company's stock worth $2,050,000 after buying an additional 5,448 shares during the last quarter. Bank of America Corp DE boosted its stake in Addus HomeCare by 273.6% in the 4th quarter. Bank of America Corp DE now owns 175,070 shares of the company's stock worth $21,945,000 after buying an additional 128,211 shares during the last quarter. HighTower Advisors LLC boosted its stake in Addus HomeCare by 62.4% in the 1st quarter. HighTower Advisors LLC now owns 4,671 shares of the company's stock worth $462,000 after buying an additional 1,795 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Addus HomeCare by 77.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,836 shares of the company's stock worth $1,108,000 after buying an additional 3,862 shares during the last quarter. 95.35% of the stock is owned by institutional investors and hedge funds.

Addus HomeCare Stock Up 1.2%

Addus HomeCare stock traded up $1.37 during midday trading on Friday, hitting $113.22. 88,436 shares of the company were exchanged, compared to its average volume of 141,538. The company's fifty day moving average price is $112.01 and its 200-day moving average price is $107.00. The company has a market cap of $2.09 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 1.71 and a beta of 0.85. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.74 and a quick ratio of 1.74. Addus HomeCare Corporation has a fifty-two week low of $88.96 and a fifty-two week high of $136.72.

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

Insider Buying and Selling

In related news, EVP Brian Poff sold 7,739 shares of the business'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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Veronica Hill-Milbourne sold 1,571 shares of Addus HomeCare stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $114.93, for a total value of $180,555.03. Following the sale, the director owned 5,067 shares in the company, valued at $582,350.31. This represents a 23.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,310 shares of company stock valued at $3,958,375. Corporate insiders own 4.50% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on ADUS. Stephens restated an "overweight" rating and issued a $140.00 price objective on shares of Addus HomeCare in a report on Wednesday. Wall Street Zen upgraded Addus HomeCare from a "hold" rating to a "buy" rating in a report on Sunday, June 29th. JMP Securities restated a "market outperform" rating and issued a $150.00 price objective on shares of Addus HomeCare in a report on Wednesday, July 16th. Barclays raised their price objective on Addus HomeCare from $83.00 to $109.00 and gave the stock an "underweight" rating in a report on Tuesday, August 19th. Finally, TD Cowen raised their price objective on Addus HomeCare from $135.00 to $139.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Addus HomeCare presently has an average rating of "Buy" and a consensus target price of $138.89.

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.