Ancora Advisors LLC Buys 43,410 Shares of Concentra Group Holdings Parent, Inc. $CON

Key Points

• Ancora Advisors increased its Concentra Group Holdings Parent stake by 10.8% in the second quarter, buying 43,410 shares to own 446,550 shares worth approximately $13.3 million.
• Concentra reported quarterly EPS of $0.52, beating estimates of $0.42, while revenue rose 10% year over year to $606.03 million. The company also declared a $0.0625 quarterly dividend, equating to a 0.7% yield.
• Analyst sentiment remains positive, with seven Buy ratings and one Hold rating and a consensus price target of $37.00; Wells Fargo and RBC raised their targets to $40 and $42, respectively.

Ancora Advisors LLC increased its position in shares of Concentra Group Holdings Parent, Inc. (NYSE:CON - Free Report) by 10.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 446,550 shares of the company's stock after acquiring an additional 43,410 shares during the quarter. Ancora Advisors LLC owned about 0.35% of Concentra Group Holdings Parent worth $13,285,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new stake in Concentra Group Holdings Parent in the second quarter valued at about $64,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Concentra Group Holdings Parent during the first quarter worth about $1,811,000. Argent Capital Management LLC grew its stake in shares of Concentra Group Holdings Parent by 42.0% during the first quarter. Argent Capital Management LLC now owns 47,898 shares of the company's stock worth $1,027,000 after acquiring an additional 14,173 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Concentra Group Holdings Parent by 722.9% during the first quarter. Janus Henderson Group PLC now owns 419,772 shares of the company's stock valued at $9,003,000 after acquiring an additional 368,761 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Concentra Group Holdings Parent by 25.7% in the 1st quarter. California State Teachers Retirement System now owns 139,546 shares of the company's stock valued at $2,993,000 after purchasing an additional 28,516 shares during the last quarter.

Concentra Group Holdings Parent Price Performance

Shares of Concentra Group Holdings Parent stock opened at $33.95 on Wednesday. The business has a 50-day moving average price of $32.41 and a 200 day moving average price of $26.90. Concentra Group Holdings Parent, Inc. has a twelve month low of $18.55 and a twelve month high of $35.90. The firm has a market cap of $4.33 billion, a PE ratio of 21.90, a P/E/G ratio of 1.26 and a beta of 0.63. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 3.22.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.10. Concentra Group Holdings Parent had a net margin of 8.69% and a return on equity of 47.81%. The firm had revenue of $606.03 million for the quarter, compared to analyst estimates of $591.75 million. During the same period last year, the company posted $0.37 EPS. Concentra Group Holdings Parent's quarterly revenue was up 10.0% compared to the same quarter last year. Sell-side analysts predict that Concentra Group Holdings Parent, Inc. will post 1.6 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Thursday, August 20th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 20th. Concentra Group Holdings Parent's dividend payout ratio (DPR) is currently 16.13%.

Analysts Set New Price Targets

CON has been the subject of several research reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Concentra Group Holdings Parent in a research note on Friday, August 7th. Wells Fargo & Company boosted their price target on Concentra Group Holdings Parent from $28.00 to $40.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. The Goldman Sachs Group assumed coverage on Concentra Group Holdings Parent in a report on Friday, June 5th. They issued a "buy" rating and a $30.00 price objective on the stock. Royal Bank Of Canada increased their price target on shares of Concentra Group Holdings Parent from $36.00 to $42.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. Finally, William Blair started coverage on shares of Concentra Group Holdings Parent in a research report on Wednesday, July 1st. They set an "outperform" rating for the company. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Concentra Group Holdings Parent currently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

Insider Buying and Selling

In other Concentra Group Holdings Parent news, Director Robert A. Ortenzio sold 130,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $31.84, for a total value of $4,139,200.00. Following the completion of the sale, the director owned 503,455 shares in the company, valued at approximately $16,030,007.20. This represents a 20.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 8.10% of the company's stock.

Concentra Group Holdings Parent Company Profile

Concentra Group Holdings Parent NYSE: CON is a Canada-based financial services holding company that specializes in serving Canadian credit unions and their members. Through its operating subsidiaries, the group provides wholesale funding, lending solutions and investment management services tailored to the unique needs of cooperative financial institutions. Concentra’s broad suite of offerings includes trust and custody services, mortgage investment products and equipment financing, all designed to support credit-union growth and stability.

In addition to wholesale funding and lending, Concentra Group Holdings Parent distributes life and general insurance products through affiliated insurance brokers and credit-union channels.

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