Ancora Advisors LLC Purchases New Stake in Concentra Group Holdings Parent, Inc. $CON

Key Points

• Ancora Advisors acquired 446,550 shares of Concentra Group Holdings Parent in the second quarter, worth approximately $13.3 million and representing about 0.35% of the company.
• Analysts remain broadly bullish: seven rate the stock a Buy and one a Hold, with an average price target of $37. Recent targets include $42 from RBC and $40 from Wells Fargo.
• Concentra exceeded quarterly expectations, reporting adjusted earnings of $0.52 per share and revenue of $606 million, up 10% year over year. The company also declared a quarterly dividend of $0.0625 per share, yielding approximately 0.7%.

Ancora Advisors LLC acquired a new position in shares of Concentra Group Holdings Parent, Inc. (NYSE:CON - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 446,550 shares of the company's stock, valued at approximately $13,285,000. Ancora Advisors LLC owned approximately 0.35% of Concentra Group Holdings Parent as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hussman Strategic Advisors Inc. purchased a new position in Concentra Group Holdings Parent during the fourth quarter worth about $1,240,000. Norges Bank acquired a new position in Concentra Group Holdings Parent in the 4th quarter valued at about $43,404,000. First Eagle Investment Management LLC grew its stake in shares of Concentra Group Holdings Parent by 18.4% in the 4th quarter. First Eagle Investment Management LLC now owns 383,206 shares of the company's stock valued at $7,541,000 after buying an additional 59,500 shares during the period. Brant Point Investment Management LLC acquired a new stake in shares of Concentra Group Holdings Parent during the 4th quarter worth approximately $5,235,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Concentra Group Holdings Parent during the 4th quarter worth approximately $1,089,000.

Insider Transactions at Concentra Group Holdings Parent

In other 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 transaction of $4,139,200.00. Following the sale, the director owned 503,455 shares of the company's stock, valued at approximately $16,030,007.20. This represents a 20.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 390,000 shares of company stock worth $11,354,200 in the last 90 days. 8.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Concentra Group Holdings Parent Stock Down 0.6%

NYSE:CON opened at $34.77 on Wednesday. Concentra Group Holdings Parent, Inc. has a 52 week low of $18.55 and a 52 week high of $35.90. The stock's fifty day moving average is $31.83 and its two-hundred day moving average is $26.52. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 1.31 and a beta of 0.62. 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 data 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 return on equity of 47.81% and a net margin of 8.69%.The business had revenue of $606.03 million during the quarter, compared to analysts' expectations of $591.75 million. During the same period in the previous year, the firm posted $0.37 earnings per share. The company's revenue was up 10.0% on a year-over-year basis. Research analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.6 EPS for the current year.

Concentra Group Holdings Parent Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.0625 per share. The ex-dividend date is Thursday, August 20th. This represents a $0.25 dividend on an annualized basis and a yield of 0.7%. Concentra Group Holdings Parent's dividend payout ratio is 16.13%.

Concentra Group Holdings Parent 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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