Hsbc Holdings PLC Buys Shares of 42,927 Concentra Group Holdings Parent, Inc. $CON

Key Points

• HSBC Holdings PLC disclosed a new position in Concentra Group Holdings Parent, buying 42,927 shares worth about $848,000 in the fourth quarter.
• Concentra reported better-than-expected Q1 earnings of $0.40 per share on revenue of $569.55 million, with revenue up 13.7% year over year.
• Analysts remain constructive on the stock, with seven Buy ratings and a consensus target price of $31.40; meanwhile, director Robert A. Ortenzio sold 130,000 shares in July under a pre-arranged trading plan.

Hsbc Holdings PLC purchased a new position in Concentra Group Holdings Parent, Inc. (NYSE:CON - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 42,927 shares of the company's stock, valued at approximately $848,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its holdings in Concentra Group Holdings Parent by 0.5% during the fourth quarter. State Street Corp now owns 4,446,551 shares of the company's stock valued at $87,508,000 after buying an additional 22,442 shares during the period. JPMorgan Chase & Co. boosted its position in Concentra Group Holdings Parent by 13.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,874,283 shares of the company's stock valued at $81,089,000 after acquiring an additional 445,449 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Concentra Group Holdings Parent by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,851,717 shares of the company's stock valued at $56,130,000 after acquiring an additional 19,122 shares during the period. Woodline Partners LP increased its holdings in shares of Concentra Group Holdings Parent by 142.7% in the 3rd quarter. Woodline Partners LP now owns 2,746,505 shares of the company's stock valued at $57,484,000 after acquiring an additional 1,614,988 shares during the period. Finally, Norges Bank bought a new position in shares of Concentra Group Holdings Parent in the 4th quarter worth $43,404,000.

Concentra Group Holdings Parent Stock Performance

Shares of CON opened at $30.88 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.62. The firm has a market cap of $3.95 billion, a PE ratio of 22.22, a P/E/G ratio of 1.43 and a beta of 0.64. Concentra Group Holdings Parent, Inc. has a 12 month low of $18.55 and a 12 month high of $32.35. The stock has a fifty day moving average price of $27.50 and a 200-day moving average price of $24.00.

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

Concentra Group Holdings Parent Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th were issued a dividend of $0.0625 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.25 annualized dividend and a dividend yield of 0.8%. Concentra Group Holdings Parent's dividend payout ratio is 17.99%.

Insider Activity

In related news, Director Robert A. Ortenzio sold 130,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $30.50, for a total value of $3,965,000.00. Following the completion of the transaction, the director directly owned 633,455 shares of the company's stock, valued at $19,320,377.50. This trade represents a 17.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 390,000 shares of company stock worth $10,465,000 in the last 90 days. Corporate insiders own 8.10% of the company's stock.

Wall Street Analyst Weigh In

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

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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