Bank of America Corp DE Sells 99,159 Shares of Target Hospitality Corp. (NASDAQ:TH)

Bank of America Corp DE cut its holdings in Target Hospitality Corp. (NASDAQ:TH - Free Report) by 77.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,848 shares of the company's stock after selling 99,159 shares during the quarter. Bank of America Corp DE's holdings in Target Hospitality were worth $279,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AlphaQuest LLC raised its holdings in Target Hospitality by 275.9% in the fourth quarter. AlphaQuest LLC now owns 4,578 shares of the company's stock worth $44,000 after purchasing an additional 3,360 shares during the period. Maridea Wealth Management LLC acquired a new stake in Target Hospitality in the fourth quarter worth $103,000. XTX Topco Ltd acquired a new stake in Target Hospitality in the fourth quarter worth $113,000. Price T Rowe Associates Inc. MD raised its holdings in Target Hospitality by 15.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,318 shares of the company's stock worth $119,000 after purchasing an additional 1,650 shares during the period. Finally, Fox Run Management L.L.C. raised its holdings in Target Hospitality by 17.6% in the fourth quarter. Fox Run Management L.L.C. now owns 14,473 shares of the company's stock worth $140,000 after purchasing an additional 2,161 shares during the period. 32.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Stifel Nicolaus raised their price objective on shares of Target Hospitality from $5.00 to $7.50 and gave the stock a "hold" rating in a report on Monday, March 31st. Wall Street Zen upgraded shares of Target Hospitality from a "sell" rating to a "hold" rating in a report on Saturday. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Target Hospitality has an average rating of "Moderate Buy" and an average price target of $11.25.

Target Hospitality Trading Up 0.7%

Target Hospitality stock opened at $6.88 on Friday. The company has a market cap of $683.63 million, a P/E ratio of 7.91, a price-to-earnings-growth ratio of 1.81 and a beta of 1.85. Target Hospitality Corp. has a 1-year low of $4.00 and a 1-year high of $11.10. The company has a fifty day simple moving average of $6.94 and a 200 day simple moving average of $7.79.

Target Hospitality (NASDAQ:TH - Get Free Report) last released its earnings results on Monday, May 19th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.03). The business had revenue of $69.90 million during the quarter, compared to the consensus estimate of $65.37 million. Target Hospitality had a net margin of 20.84% and a return on equity of 22.80%. The firm's revenue for the quarter was down 34.5% on a year-over-year basis. During the same period last year, the business posted $0.20 EPS. On average, equities research analysts forecast that Target Hospitality Corp. will post 0.65 EPS for the current year.

Target Hospitality Company Profile

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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