Brant Point Investment Management LLC Invests $5.24 Million in Concentra Group Holdings Parent, Inc. $CON

Key Points

• Brant Point Investment Management opened a new position in Concentra Group Holdings Parent, buying 266,022 shares worth about $5.24 million. The stake represents about 0.21% of Concentra and 0.6% of Brant Point’s portfolio.
• Concentra reported a strong quarter, with EPS of $0.40 beating estimates and revenue of $569.56 million topping expectations. Revenue rose 13.7% year over year, and analysts now expect full-year EPS of $1.53.
• The stock has also seen mixed signals from insiders and analysts: director Robert A. Ortenzio sold 130,000 shares, while several brokerages issued or raised buy ratings. The consensus rating is Moderate Buy with an average target price of $30.20.

Brant Point Investment Management LLC purchased a new position in shares of Concentra Group Holdings Parent, Inc. (NYSE:CON - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 266,022 shares of the company's stock, valued at approximately $5,235,000. Concentra Group Holdings Parent accounts for 0.6% of Brant Point Investment Management LLC's investment portfolio, making the stock its 23rd biggest holding. Brant Point Investment Management LLC owned about 0.21% of Concentra Group Holdings Parent as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CON. Royal Bank of Canada grew its holdings in shares of Concentra Group Holdings Parent by 7.6% during the 1st quarter. Royal Bank of Canada now owns 81,441 shares of the company's stock worth $1,767,000 after purchasing an additional 5,754 shares during the period. AQR Capital Management LLC purchased a new position in shares of Concentra Group Holdings Parent during the 1st quarter worth $293,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Concentra Group Holdings Parent by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,515 shares of the company's stock valued at $1,422,000 after acquiring an additional 2,873 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Concentra Group Holdings Parent by 48.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,329,498 shares of the company's stock valued at $28,850,000 after acquiring an additional 434,503 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Concentra Group Holdings Parent by 10.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,526 shares of the company's stock valued at $4,568,000 after acquiring an additional 19,846 shares during the period.

Concentra Group Holdings Parent Price Performance

CON stock opened at $28.14 on Friday. The company has a debt-to-equity ratio of 3.62, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market capitalization of $3.60 billion, a P/E ratio of 20.24, a P/E/G ratio of 1.28 and a beta of 0.82. The business's 50-day moving average is $24.04 and its two-hundred day moving average is $22.41. Concentra Group Holdings Parent, Inc. has a 1 year low of $18.55 and a 1 year high of $28.21.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.05. The company had revenue of $569.56 million for the quarter, compared to analyst estimates of $553.53 million. Concentra Group Holdings Parent had a return on equity of 47.14% and a net margin of 7.97%.Concentra Group Holdings Parent's revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 EPS. Analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.53 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were given a $0.0625 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.25 dividend on an annualized basis and a yield of 0.9%. Concentra Group Holdings Parent's dividend payout ratio (DPR) is currently 17.99%.

Insider Transactions at Concentra Group Holdings Parent

In other Concentra Group Holdings Parent news, Director Robert A. Ortenzio sold 130,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $25.00, for a total value of $3,250,000.00. Following the sale, the director owned 763,455 shares of the company's stock, valued at $19,086,375. This trade represents a 14.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently commented on CON. Weiss Ratings upgraded Concentra Group Holdings Parent from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 11th. Truist Financial restated a "buy" rating and set a $31.00 target price (up from $29.00) on shares of Concentra Group Holdings Parent in a report on Monday, May 11th. The Goldman Sachs Group began coverage on Concentra Group Holdings Parent in a report on Friday, June 5th. They set a "buy" rating and a $30.00 target price for the company. Finally, Wells Fargo & Company raised their target price on Concentra Group Holdings Parent from $25.00 to $28.00 and gave the company an "overweight" rating in a report on Thursday, March 5th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $30.20.

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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