HBK Investments L P Increases Stock Holdings in Concentra Group Holdings Parent, Inc. $CON

Key Points

• HBK Investments increased its Concentra Group Holdings Parent stake by 21.1% in the second quarter, purchasing 181,864 additional shares and bringing its total holdings to 1.04 million shares valued at approximately $31.1 million.
• Concentra reported strong quarterly results, with earnings of $0.52 per share and revenue of $606.0 million, exceeding analyst estimates; revenue rose 10% year over year. The company also declared a quarterly dividend of $0.0625 per share.
• Analyst sentiment remains positive, with the stock carrying a consensus “Buy” rating and an average price target of $39.40. Shares recently traded at $36.37, near their 52-week high of $36.71, while director Robert Ortenzio sold 130,000 shares under a pre-arranged trading plan.

HBK Investments L P boosted its holdings in shares of Concentra Group Holdings Parent, Inc. (NYSE:CON - Free Report) by 21.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,044,614 shares of the company's stock after buying an additional 181,864 shares during the period. HBK Investments L P owned approximately 0.82% of Concentra Group Holdings Parent worth $31,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in shares of Concentra Group Holdings Parent by 70.3% during the second quarter. Allworth Financial LP now owns 1,010 shares of the company's stock valued at $30,000 after acquiring an additional 417 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Concentra Group Holdings Parent during the 2nd quarter worth approximately $38,000. Nykredit A S acquired a new position in Concentra Group Holdings Parent during the 2nd quarter valued at approximately $60,000. Public Employees Retirement System of Ohio purchased a new position in shares of Concentra Group Holdings Parent in the second quarter worth $64,000. Finally, Covestor Ltd raised its holdings in shares of Concentra Group Holdings Parent by 33.8% in the fourth quarter. Covestor Ltd now owns 7,180 shares of the company's stock worth $141,000 after buying an additional 1,815 shares during the last quarter.

Insiders Place Their Bets

In other Concentra Group Holdings Parent news, Director Robert Ortenzio sold 130,000 shares of the 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 sale, the director directly owned 503,455 shares of the company's stock, valued at approximately $16,030,007.20. This trade represents a 20.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 8.10% of the company's stock.

Concentra Group Holdings Parent Stock Performance

NYSE CON traded up $0.75 on Wednesday, hitting $36.37. 1,092,574 shares of the company's stock traded hands, compared to its average volume of 894,727. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 3.22. Concentra Group Holdings Parent, Inc. has a 1-year low of $18.55 and a 1-year high of $36.71. The firm's 50-day moving average price is $33.21 and its two-hundred day moving average price is $27.67. The firm has a market capitalization of $4.64 billion, a PE ratio of 23.47, a P/E/G ratio of 1.30 and a beta of 0.63.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.10. Concentra Group Holdings Parent had a net margin of 8.69% and a return on equity of 47.81%. The firm had revenue of $606.03 million for the quarter, compared to analyst estimates of $591.75 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. The business's quarterly revenue was up 10.0% compared to the same quarter last year. As a group, analysts expect that Concentra Group Holdings Parent, Inc. will post 1.65 EPS for the current year.

Concentra Group Holdings Parent Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Thursday, August 20th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 20th. Concentra Group Holdings Parent's dividend payout ratio is presently 16.13%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. William Blair began coverage on Concentra Group Holdings Parent in a research report on Wednesday, July 1st. They issued an "outperform" rating on the stock. Truist Financial raised their target price on Concentra Group Holdings Parent from $37.00 to $42.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Weiss Ratings raised Concentra Group Holdings Parent from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, September 4th. Wells Fargo & Company boosted their price target on Concentra Group Holdings Parent from $28.00 to $40.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. Finally, Royal Bank Of Canada increased their price objective on Concentra Group Holdings Parent from $36.00 to $42.00 and gave the company an "outperform" rating in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to data from MarketBeat.com, Concentra Group Holdings Parent currently has a consensus rating of "Buy" and an average target price of $39.40.

Concentra Group Holdings Parent Company Profile

Concentra Group Holdings Parent, Inc is a U.S. health care company that operates one of the country's largest networks of occupational health centers. Through its Concentra brand, the company provides medical services to employers and employees, with an emphasis on workplace injury care, occupational medicine and convenient access to non-emergency treatment.

Its services include treatment for work-related injuries and illnesses, physical examinations, drug and alcohol screening, workers' compensation care, vaccinations, health and wellness programs, and regulatory examinations such as Department of Transportation physicals.

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