Federated Hermes Inc. Sells 5,311 Shares of Huron Consulting Group Inc. (NASDAQ:HURN)

Key Points

• Federated Hermes Inc. reduced its stake in Huron Consulting Group by 6.1%, owning approximately 81,548 shares valued at $11.7 million after selling 5,311 shares in the first quarter.
• In recent trading, Huron Consulting Group's stock dropped 7.6%, trading at $121.98, with a trading volume significantly above its average.
• Analysts currently have a consensus rating of "Moderate Buy" for Huron Consulting Group, with an average price target set at $170.75.

Federated Hermes Inc. cut its stake in Huron Consulting Group Inc. (NASDAQ:HURN - Free Report) by 6.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,548 shares of the business services provider's stock after selling 5,311 shares during the quarter. Federated Hermes Inc. owned about 0.47% of Huron Consulting Group worth $11,698,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in HURN. Opal Wealth Advisors LLC acquired a new position in Huron Consulting Group in the first quarter worth about $35,000. Heck Capital Advisors LLC bought a new stake in shares of Huron Consulting Group during the fourth quarter valued at approximately $33,000. CWM LLC raised its holdings in shares of Huron Consulting Group by 55.9% during the first quarter. CWM LLC now owns 407 shares of the business services provider's stock valued at $58,000 after buying an additional 146 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Huron Consulting Group by 27.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 569 shares of the business services provider's stock worth $71,000 after buying an additional 122 shares in the last quarter. Finally, USA Financial Formulas bought a new stake in Huron Consulting Group during the first quarter worth approximately $114,000. 93.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Huron Consulting Group news, Director John Mccartney sold 500 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $129.11, for a total transaction of $64,555.00. Following the completion of the transaction, the director owned 51,317 shares of the company's stock, valued at $6,625,537.87. The trade was a 0.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joy Brown sold 668 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $149.74, for a total transaction of $100,026.32. Following the transaction, the director directly owned 8,896 shares of the company's stock, valued at approximately $1,332,087.04. This represents a 6.98% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,708 shares of company stock worth $375,161. Corporate insiders own 2.15% of the company's stock.

Huron Consulting Group Stock Up 0.2%

NASDAQ:HURN traded up $0.29 during trading hours on Tuesday, hitting $126.84. 86,250 shares of the stock traded hands, compared to its average volume of 204,555. The firm has a 50 day moving average price of $136.00 and a 200 day moving average price of $138.47. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.35. Huron Consulting Group Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $155.00. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 22.15 and a beta of 0.26.

Huron Consulting Group (NASDAQ:HURN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The business services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.79 by $0.10. Huron Consulting Group had a net margin of 6.60% and a return on equity of 25.52%. The business had revenue of $402.50 million for the quarter, compared to analysts' expectations of $402.67 million. During the same period in the previous year, the company posted $1.68 EPS. Huron Consulting Group's revenue was up 8.3% on a year-over-year basis. Equities research analysts anticipate that Huron Consulting Group Inc. will post 6.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Barrington Research boosted their target price on Huron Consulting Group from $167.00 to $173.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Wall Street Zen cut Huron Consulting Group from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Huron Consulting Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $170.75.

Huron Consulting Group Profile

Huron Consulting Group Inc, a professional services firm, provides consultancy services in the United States and internationally. It operates through three segments: Healthcare, Education, and Commercial. The Healthcare segment provides financial and operational performance improvement consulting services; digital offerings, spanning technology and analytic-related services; software products; organizational transformation services; revenue cycle managed and outsourcing services; financial and capital advisory consulting services; and strategy and innovation consulting services to national and regional health systems, academic and community health systems, federal health system, public, children's and critical access hospitals, physician practices and medical groups, payors, and long-term care or post-acute providers.