Cambiar Investors LLC Trims Stake in Addus HomeCare Corporation $ADUS

Key Points

• Cambiar Investors LLC reduced its holdings in Addus HomeCare by 16.4%, owning approximately 0.07% of the company worth $1.27 million after selling 2,535 shares.
• Institutional investors and hedge funds now own 95.35% of Addus HomeCare's stock, indicating a strong trend in professional investment.
• Analysts have a consensus rating of "Buy" for Addus HomeCare, with a target price averaging $142.86, reflecting positive sentiment about the company's financial performance.

Cambiar Investors LLC cut its stake in shares of Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) by 16.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,878 shares of the company's stock after selling 2,535 shares during the quarter. Cambiar Investors LLC owned approximately 0.07% of Addus HomeCare worth $1,274,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Capital Research Global Investors purchased a new position in Addus HomeCare in the 4th quarter worth approximately $51,149,000. Nuveen LLC purchased a new position in Addus HomeCare in the 1st quarter worth approximately $16,155,000. GAMMA Investing LLC lifted its holdings in Addus HomeCare by 10,307.8% in the 1st quarter. GAMMA Investing LLC now owns 130,930 shares of the company's stock worth $12,948,000 after purchasing an additional 129,672 shares in the last quarter. Bank of America Corp DE lifted its holdings in Addus HomeCare by 273.6% in the 4th quarter. Bank of America Corp DE now owns 175,070 shares of the company's stock worth $21,945,000 after purchasing an additional 128,211 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in Addus HomeCare by 1,229.4% in the 1st quarter. Allianz Asset Management GmbH now owns 100,898 shares of the company's stock worth $9,978,000 after purchasing an additional 93,308 shares in the last quarter. 95.35% of the stock is currently owned by institutional investors.

Insider Transactions at Addus HomeCare

In other news, EVP Michael D. Wattenbarger sold 2,045 shares of Addus HomeCare stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $115.00, for a total value of $235,175.00. Following the completion of the transaction, the executive vice president owned 7,796 shares in the company, valued at approximately $896,540. The trade was a 20.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Veronica Hill-Milbourne sold 1,571 shares of Addus HomeCare stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $114.93, for a total value of $180,555.03. Following the completion of the transaction, the director owned 5,067 shares of the company's stock, valued at approximately $582,350.31. This trade represents a 23.67% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,616 shares of company stock worth $3,289,480. 4.50% of the stock is currently owned by company insiders.

Addus HomeCare Trading Up 3.7%

Shares of Addus HomeCare stock traded up $4.23 on Friday, reaching $118.41. The company had a trading volume of 133,138 shares, compared to its average volume of 201,103. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 26.14, a P/E/G ratio of 1.74 and a beta of 0.80. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.74 and a quick ratio of 1.74. The firm's 50-day moving average price is $111.97 and its two-hundred day moving average price is $107.10. Addus HomeCare Corporation has a 1 year low of $88.96 and a 1 year high of $136.72.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.04. The firm had revenue of $349.44 million during the quarter, compared to analysts' expectations of $345.71 million. Addus HomeCare had a return on equity of 9.39% and a net margin of 6.51%.The company's quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.35 EPS. As a group, research analysts predict that Addus HomeCare Corporation will post 4.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Barclays boosted their price target on Addus HomeCare from $83.00 to $109.00 and gave the stock an "underweight" rating in a report on Tuesday. Wall Street Zen raised Addus HomeCare from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Macquarie reaffirmed an "outperform" rating and issued a $133.00 price objective on shares of Addus HomeCare in a research note on Tuesday, June 10th. TD Cowen lifted their price objective on Addus HomeCare from $135.00 to $139.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $150.00 price objective on shares of Addus HomeCare in a research note on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Addus HomeCare has an average rating of "Buy" and a consensus target price of $138.38.

About Addus HomeCare

Addus HomeCare Corporation, together with its subsidiaries, provides personal care services to elderly, chronically ill, disabled persons, and individuals who are at risk of hospitalization or institutionalization in the United States. The company operates through three segments: Personal Care, Hospice, and Home Health.