Bank of New York Mellon Corp Invests $8.14 Million in Target Hospitality Corp. $TH

Key Points

• Bank of New York Mellon acquired 399,789 shares of Target Hospitality in the second quarter, valued at approximately $8.14 million and representing a 0.40% stake.
• Target Hospitality reported quarterly revenue of $85.45 million and adjusted its loss to $0.09 per share, beating analyst expectations for revenue of $79.30 million and a loss of $0.11 per share.
• Analyst sentiment is generally positive, with the stock receiving a consensus “Moderate Buy” rating and an average price target of $24.00, above its reported share price of $18.54.

Bank of New York Mellon Corp acquired a new stake in Target Hospitality Corp. (NASDAQ:TH - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 399,789 shares of the company's stock, valued at approximately $8,140,000. Bank of New York Mellon Corp owned 0.40% of Target Hospitality at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Deutsche Bank AG raised its position in shares of Target Hospitality by 4.8% in the fourth quarter. Deutsche Bank AG now owns 33,634 shares of the company's stock worth $269,000 after buying an additional 1,526 shares in the last quarter. AdvisorShares Investments LLC grew its position in Target Hospitality by 17.9% during the fourth quarter. AdvisorShares Investments LLC now owns 11,820 shares of the company's stock worth $95,000 after buying an additional 1,798 shares in the last quarter. IFP Advisors Inc increased its stake in Target Hospitality by 88.0% in the 3rd quarter. IFP Advisors Inc now owns 4,002 shares of the company's stock worth $35,000 after acquiring an additional 1,873 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Target Hospitality by 121.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,494 shares of the company's stock worth $38,000 after acquiring an additional 2,465 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Target Hospitality by 6.2% in the 2nd quarter. Rhumbline Advisers now owns 50,373 shares of the company's stock valued at $359,000 after acquiring an additional 2,947 shares in the last quarter. Institutional investors own 32.40% of the company's stock.

Target Hospitality Stock Performance

Shares of NASDAQ TH opened at $18.54 on Friday. The stock's 50-day moving average is $17.27 and its 200 day moving average is $14.98. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -48.79 and a beta of 1.51. Target Hospitality Corp. has a 1-year low of $5.97 and a 1-year high of $20.85. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.11.

Target Hospitality (NASDAQ:TH - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. Target Hospitality had a negative net margin of 10.85% and a negative return on equity of 9.80%. The firm had revenue of $85.45 million for the quarter, compared to the consensus estimate of $79.30 million. On average, sell-side analysts anticipate that Target Hospitality Corp. will post -0.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on TH. Weiss Ratings raised Target Hospitality from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday, August 21st. Morgan Stanley began coverage on shares of Target Hospitality in a research note on Monday, August 17th. They issued an "overweight" rating and a $22.00 target price on the stock. Oppenheimer lifted their target price on shares of Target Hospitality from $21.00 to $24.00 and gave the company an "outperform" rating in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $23.00 price target on shares of Target Hospitality in a research note on Thursday, August 27th. Finally, Northland Securities set a $25.00 price target on shares of Target Hospitality in a report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $24.00.

Target Hospitality Company Profile

Target Hospitality is a lodging solutions provider specializing in the ownership and operation of modular workforce housing communities across North America. The company serves large-scale clients in the energy, mining, construction and government sectors that require temporary or long-term accommodations for remote workforces. Its housing portfolio includes suite-style units, single-family cabins and “man-camp” dormitories, designed to match project size, duration and workforce composition.

In addition to lodging, Target Hospitality delivers integrated support services such as on-site dining and culinary management, housekeeping, maintenance, facility management and logistics planning.

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