Empirical Financial Services LLC d.b.a. Empirical Wealth Management Increases Position in Addus HomeCare Corporation $ADUS

Key Points

• Empirical Financial Services LLC increased its stake in Addus HomeCare Corporation by 21.4% during the second quarter, bringing its total ownership to 13,099 shares valued at approximately $1.5 million.
• Insider selling activity included EVP Brian Poff and CEO R. Dirk Allison selling a combined 34,310 shares worth nearly $4 million in recent transactions, indicating a decrease in their ownership.
• Analysts maintain a positive outlook on Addus HomeCare, with an average rating of "Moderate Buy" and a consensus target price of $138.89 following upgrades from several firms.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) by 21.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,099 shares of the company's stock after acquiring an additional 2,311 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management owned 0.07% of Addus HomeCare worth $1,509,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ADUS. GAMMA Investing LLC lifted its position in shares of Addus HomeCare by 10,307.8% during the first quarter. GAMMA Investing LLC now owns 130,930 shares of the company's stock worth $12,948,000 after acquiring an additional 129,672 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Addus HomeCare by 1.3% during the first quarter. Rhumbline Advisers now owns 52,483 shares of the company's stock worth $5,190,000 after acquiring an additional 649 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Addus HomeCare during the first quarter worth $1,050,000. Azzad Asset Management Inc. ADV lifted its position in shares of Addus HomeCare by 14.1% during the first quarter. Azzad Asset Management Inc. ADV now owns 10,086 shares of the company's stock worth $997,000 after acquiring an additional 1,247 shares in the last quarter. Finally, Vista Finance LLC lifted its position in shares of Addus HomeCare by 7.0% during the first quarter. Vista Finance LLC now owns 2,994 shares of the company's stock worth $296,000 after acquiring an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 95.35% of the company's stock.

Insiders Place Their Bets

In other news, EVP Brian Poff sold 7,739 shares of Addus HomeCare stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $116.82, for a total transaction of $904,069.98. Following the completion of the transaction, the executive vice president directly owned 56,980 shares in the company, valued at approximately $6,656,403.60. This trade represents a 11.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO R Dirk Allison sold 25,000 shares of Addus HomeCare stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $114.95, for a total transaction of $2,873,750.00. Following the transaction, the chief executive officer owned 166,461 shares of the company's stock, valued at $19,134,691.95. The trade was a 13.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,310 shares of company stock worth $3,958,375 over the last three months. Company insiders own 4.50% of the company's stock.

Analyst Upgrades and Downgrades

ADUS has been the topic of several research analyst reports. Macquarie reaffirmed an "outperform" rating and issued a $133.00 price target on shares of Addus HomeCare in a report on Tuesday, June 10th. Royal Bank Of Canada upped their price target on shares of Addus HomeCare from $133.00 to $134.00 and gave the stock an "outperform" rating in a report on Friday, August 22nd. Stephens reaffirmed an "overweight" rating and issued a $140.00 price target on shares of Addus HomeCare in a report on Wednesday, September 3rd. Wall Street Zen raised shares of Addus HomeCare from a "hold" rating to a "buy" rating in a report on Sunday, June 29th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $150.00 price target on shares of Addus HomeCare in a report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $138.89.

Addus HomeCare Trading Down 0.5%

NASDAQ ADUS opened at $114.86 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 1.74. Addus HomeCare Corporation has a fifty-two week low of $88.96 and a fifty-two week high of $136.72. The stock has a 50 day simple moving average of $113.12 and a two-hundred day simple moving average of $109.29. The stock has a market cap of $2.12 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 1.75 and a beta of 0.86.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.45 by $0.04. Addus HomeCare had a net margin of 6.51% and a return on equity of 9.39%. The business had revenue of $349.44 million during the quarter, compared to analyst estimates of $345.71 million. During the same period last year, the business posted $1.35 earnings per share. Addus HomeCare's quarterly revenue was up 21.8% compared to the same quarter last year. On average, analysts forecast that Addus HomeCare Corporation will post 4.59 earnings per share for the current year.

Addus HomeCare Company Profile

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.

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