Hsbc Holdings PLC Invests $1.51 Million in Target Hospitality Corp. $TH

Key Points

• Hsbc Holdings PLC purchased 75,108 shares of Target Hospitality during the second quarter, investing approximately $1.51 million and acquiring a 0.08% stake.
• Several major institutional investors increased their positions, while institutional investors and hedge funds collectively own 32.4% of the company.
• Target Hospitality reported quarterly revenue of $85.45 million and an adjusted EPS loss of $0.09, both exceeding analyst expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $24.60, above the reported $19.25 share price.

Hsbc Holdings PLC purchased a new stake in Target Hospitality Corp. (NASDAQ:TH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 75,108 shares of the company's stock, valued at approximately $1,506,000. Hsbc Holdings PLC owned approximately 0.08% of Target Hospitality as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Target Hospitality in the 2nd quarter worth $64,312,000. Rubric Capital Management LP grew its position in shares of Target Hospitality by 9.5% in the second quarter. Rubric Capital Management LP now owns 2,189,456 shares of the company's stock valued at $15,589,000 after purchasing an additional 189,456 shares in the last quarter. Vanguard Group Inc. increased its holdings in Target Hospitality by 43.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,994,641 shares of the company's stock worth $16,915,000 after acquiring an additional 600,181 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Target Hospitality by 21.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,428,773 shares of the company's stock worth $13,259,000 after purchasing an additional 252,212 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Target Hospitality by 15.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,081,081 shares of the company's stock valued at $10,032,000 after buying an additional 147,950 shares in the last quarter. Institutional investors and hedge funds own 32.40% of the company's stock.

Target Hospitality Trading Up 0.7%

Shares of TH stock opened at $19.25 on Friday. The stock has a market capitalization of $1.92 billion, a P/E ratio of -50.66 and a beta of 1.51. Target Hospitality Corp. has a 12-month low of $5.97 and a 12-month high of $20.85. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.11. The firm's 50 day moving average is $17.25 and its 200 day moving average is $15.45.

Target Hospitality (NASDAQ:TH - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.11) by $0.02. The company had revenue of $85.45 million during the quarter, compared to analysts' expectations of $79.30 million. Target Hospitality had a negative return on equity of 9.80% and a negative net margin of 10.85%. Research analysts expect that Target Hospitality Corp. will post -0.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TH has been the subject of a number of recent research reports. Oppenheimer boosted their target price on Target Hospitality from $24.00 to $27.00 and gave the stock an "outperform" rating in a research report on Tuesday. Northland Securities set a $25.00 price target on Target Hospitality in a research note on Thursday, August 27th. Weiss Ratings raised shares of Target Hospitality from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday, August 21st. Stifel Nicolaus set a $26.00 target price on Target Hospitality in a research note on Thursday, August 27th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $23.00 target price on shares of Target Hospitality in a research report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $24.60.

Target Hospitality Company Profile

Target Hospitality Corp. NASDAQ: TH provides specialty hospitality and workforce accommodation services in North America. The company supports organizations that require temporary or long-term housing and related services in remote, industrial, government, and other challenging operating environments.

Its offerings include modular and prefabricated accommodations, lodging management, food and catering services, housekeeping, maintenance, transportation, security, and other on-site support.

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