Appian Way Asset Management LP Invests $11.87 Million in Target Hospitality Corp. $TH

Key Points

• Appian Way Asset Management LP has made a significant investment of $11.87 million in Target Hospitality Corp., acquiring approximately 1,804,184 shares, which now represent about 2.7% of its total holdings.
• Target Hospitality reported earnings of ($0.15) per share for the last quarter, missing analyst expectations while achieving revenues of $61.61 million, which surpassed estimates.
• Several institutional investors have increased their stakes in Target Hospitality, with Wells Fargo raising its position by 51.7% and Dimensional Fund Advisors boosting it by 420.2%.

Appian Way Asset Management LP purchased a new position in shares of Target Hospitality Corp. (NASDAQ:TH - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,804,184 shares of the company's stock, valued at approximately $11,872,000. Target Hospitality comprises approximately 2.7% of Appian Way Asset Management LP's holdings, making the stock its 10th biggest position. Appian Way Asset Management LP owned approximately 1.82% of Target Hospitality at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TH. Wells Fargo & Company MN raised its stake in shares of Target Hospitality by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 15,394 shares of the company's stock worth $149,000 after buying an additional 5,246 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Target Hospitality by 420.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 199,358 shares of the company's stock worth $1,927,000 after buying an additional 161,036 shares during the last quarter. Stifel Financial Corp acquired a new position in shares of Target Hospitality during the 4th quarter worth $242,000. Price T Rowe Associates Inc. MD raised its stake in shares of Target Hospitality by 15.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,318 shares of the company's stock worth $119,000 after buying an additional 1,650 shares during the last quarter. Finally, Tudor Investment Corp ET AL raised its stake in shares of Target Hospitality by 100.2% during the 4th quarter. Tudor Investment Corp ET AL now owns 175,574 shares of the company's stock worth $1,697,000 after buying an additional 87,895 shares during the last quarter. Institutional investors and hedge funds own 32.40% of the company's stock.

Target Hospitality Price Performance

Target Hospitality stock opened at $9.07 on Tuesday. Target Hospitality Corp. has a 12-month low of $4.00 and a 12-month high of $11.10. The stock has a market capitalization of $905.00 million, a P/E ratio of 90.70 and a beta of 2.00. The firm's 50-day moving average is $7.92 and its two-hundred day moving average is $7.17. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 1.47.

Target Hospitality (NASDAQ:TH - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.04). Target Hospitality had a return on equity of 3.26% and a net margin of 3.58%.The firm had revenue of $61.61 million for the quarter, compared to analyst estimates of $56.43 million. Target Hospitality has set its FY 2025 guidance at EPS. Equities analysts predict that Target Hospitality Corp. will post 0.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

TH has been the subject of several research reports. Stifel Nicolaus raised Target Hospitality from a "hold" rating to a "buy" rating and lifted their price target for the stock from $7.50 to $11.00 in a research note on Tuesday, August 19th. Wall Street Zen raised Target Hospitality from a "sell" rating to a "hold" rating in a research note on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $13.00.

About Target Hospitality

Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America. The company operates through two segments, Hospitality & Facilities Services - South and Government. It owns a network of specialty rental accommodation units. In addition, the company provides catering and food, maintenance, housekeeping, grounds-keeping, security, health and recreation facilities, workforce community management, concierge, and laundry services.

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