Concentra Group Holdings Parent, Inc. $CON Shares Purchased by First Trust Advisors LP

Key Points

• First Trust Advisors increased its Concentra stake by 28.4% in the first quarter, acquiring 36,241 additional shares and bringing its holdings to 163,784 shares valued at approximately $3.5 million.
• Concentra reported quarterly EPS of $0.40, beating estimates of $0.35, while revenue rose 13.7% year over year to $569.55 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $31.40.
• Company insiders sold 520,000 shares worth approximately $14.6 million over the past 90 days, including a director’s $4.1 million sale conducted under a pre-arranged Rule 10b5-1 trading plan.

First Trust Advisors LP boosted its stake in shares of Concentra Group Holdings Parent, Inc. (NYSE:CON - Free Report) by 28.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 163,784 shares of the company's stock after acquiring an additional 36,241 shares during the quarter. First Trust Advisors LP owned 0.13% of Concentra Group Holdings Parent worth $3,513,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its position in shares of Concentra Group Holdings Parent by 124.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company's stock worth $25,000 after acquiring an additional 663 shares during the period. Caitong International Asset Management Co. Ltd grew its position in shares of Concentra Group Holdings Parent by 2,784.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,442 shares of the company's stock valued at $30,000 after acquiring an additional 1,392 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Concentra Group Holdings Parent by 49.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,604 shares of the company's stock valued at $34,000 after purchasing an additional 528 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Concentra Group Holdings Parent in the 4th quarter worth about $35,000. Finally, Osaic Holdings Inc. boosted its position in Concentra Group Holdings Parent by 59.5% during the second quarter. Osaic Holdings Inc. now owns 2,041 shares of the company's stock worth $42,000 after purchasing an additional 761 shares in the last quarter.

Concentra Group Holdings Parent Stock Performance

NYSE CON opened at $30.64 on Thursday. The company has a debt-to-equity ratio of 3.62, a quick ratio of 1.26 and a current ratio of 1.26. The stock's fifty day moving average is $29.52 and its two-hundred day moving average is $25.29. The firm has a market capitalization of $3.92 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 1.42 and a beta of 0.62. Concentra Group Holdings Parent, Inc. has a fifty-two week low of $18.55 and a fifty-two week high of $32.86.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. The firm had revenue of $569.55 million for the quarter, compared to analysts' expectations of $553.53 million. Concentra Group Holdings Parent had a net margin of 7.97% and a return on equity of 47.14%. The company's revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS. On average, research analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CON. The Goldman Sachs Group assumed coverage on shares of Concentra Group Holdings Parent in a report on Friday, June 5th. They issued a "buy" rating and a $30.00 price target for the company. Truist Financial increased their price objective on shares of Concentra Group Holdings Parent from $31.00 to $37.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Weiss Ratings upgraded shares of Concentra Group Holdings Parent from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 11th. Finally, William Blair initiated coverage on shares of Concentra Group Holdings Parent in a research note on Wednesday, July 1st. They set an "outperform" rating for the company. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Concentra Group Holdings Parent presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.40.

Insider Activity at Concentra Group Holdings Parent

In related news, Director Robert A. Ortenzio sold 130,000 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $31.84, for a total transaction of $4,139,200.00. Following the completion of the transaction, the director directly owned 503,455 shares in the company, valued at $16,030,007.20. This trade represents a 20.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 520,000 shares of company stock worth $14,604,200 in the last ninety days. Company insiders own 8.10% of the company's stock.

About Concentra Group Holdings Parent

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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