Concentra Group Holdings Parent, Inc. $CON Stock Position Raised by Prosight Management LP

Key Points

• Prosight Management LP boosted its position in Concentra Group Holdings Parent (NYSE:CON) by 95.4% in the third quarter to 610,000 shares, making the stake about 3.0% of Prosight’s portfolio and worth roughly $12.77 million (0.48% of CON).
• Recent results: Concentra beat expectations with $0.28 EPS vs. $0.23 consensus and reported $539.1M in revenue (up 15.9% year-over-year), showing strong profitability (ROE 48.46%); analysts forecast about $1.47 EPS for the fiscal year.
• Dividend and analyst sentiment: The company announced a quarterly dividend of $0.0625 per share (annualized $0.25, ~1.1% yield; ex-dividend March 12), while Wall Street ratings are mixed-to-positive with a consensus “Moderate Buy” and a $30 price target after several recent upgrades.

Prosight Management LP increased its position in Concentra Group Holdings Parent, Inc. (NYSE:CON - Free Report) by 95.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 610,000 shares of the company's stock after purchasing an additional 297,895 shares during the period. Concentra Group Holdings Parent comprises about 3.0% of Prosight Management LP's investment portfolio, making the stock its 16th biggest holding. Prosight Management LP owned 0.48% of Concentra Group Holdings Parent worth $12,767,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CON. Versant Capital Management Inc lifted its holdings in shares of Concentra Group Holdings Parent by 80.6% in the third quarter. Versant Capital Management Inc now owns 1,190 shares of the company's stock valued at $25,000 after purchasing an additional 531 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Concentra Group Holdings Parent by 124.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company's stock valued at $25,000 after buying an additional 663 shares during the period. MAI Capital Management raised its position in Concentra Group Holdings Parent by 48,400.0% during the second quarter. MAI Capital Management now owns 1,940 shares of the company's stock valued at $40,000 after buying an additional 1,936 shares during the period. Osaic Holdings Inc. lifted its stake in Concentra Group Holdings Parent by 59.5% in the 2nd quarter. Osaic Holdings Inc. now owns 2,041 shares of the company's stock worth $42,000 after acquiring an additional 761 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Concentra Group Holdings Parent by 66.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,652 shares of the company's stock worth $55,000 after acquiring an additional 1,054 shares in the last quarter.

Concentra Group Holdings Parent Stock Performance

Shares of CON stock opened at $22.35 on Friday. The company has a debt-to-equity ratio of 3.90, a current ratio of 1.14 and a quick ratio of 1.14. Concentra Group Holdings Parent, Inc. has a fifty-two week low of $18.55 and a fifty-two week high of $24.68. The stock's 50-day moving average is $22.40 and its two-hundred day moving average is $21.20. The firm has a market cap of $2.87 billion, a P/E ratio of 17.19, a PEG ratio of 1.13 and a beta of 0.60.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.05. The business had revenue of $539.08 million during the quarter. Concentra Group Holdings Parent had a return on equity of 48.46% and a net margin of 7.69%.The firm's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.17 earnings per share. Analysts predict that Concentra Group Holdings Parent, Inc. will post 1.47 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, March 12th will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, March 12th. Concentra Group Holdings Parent's dividend payout ratio (DPR) is presently 19.23%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CON. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Concentra Group Holdings Parent in a research note on Monday, December 29th. Wall Street Zen raised shares of Concentra Group Holdings Parent from a "hold" rating to a "buy" rating in a research report on Saturday, December 27th. Zacks Research upgraded shares of Concentra Group Holdings Parent from a "strong sell" rating to a "hold" rating in a report on Wednesday, December 24th. Wells Fargo & Company boosted their price objective on shares of Concentra Group Holdings Parent from $25.00 to $28.00 and gave the company an "overweight" rating in a research report on Thursday, March 5th. Finally, Royal Bank Of Canada increased their target price on shares of Concentra Group Holdings Parent from $30.00 to $31.00 and gave the stock an "outperform" rating in a research report on Monday, February 2nd. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $30.00.

Concentra Group Holdings Parent 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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