Janus Henderson Group PLC Acquires 368,761 Shares of Concentra Group Holdings Parent, Inc. $CON

Key Points

• Janus Henderson significantly increased its CON stake by 722.9% in the first quarter, purchasing 368,761 shares and bringing its total holdings to 419,772 shares valued at approximately $9 million.
• Analyst sentiment is broadly positive: seven analysts rate Concentra a Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of $31.40.
• Concentra reported stronger-than-expected quarterly results, with EPS of $0.40 versus the $0.35 estimate and revenue up 13.7% year over year to $569.55 million; however, an insider recently sold 130,000 shares under a pre-arranged trading plan.

Janus Henderson Group PLC increased its holdings in Concentra Group Holdings Parent, Inc. (NYSE:CON - Free Report) by 722.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 419,772 shares of the company's stock after purchasing an additional 368,761 shares during the period. Janus Henderson Group PLC owned approximately 0.33% of Concentra Group Holdings Parent worth $9,003,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CON. Hussman Strategic Advisors Inc. acquired a new stake in Concentra Group Holdings Parent in the 4th quarter worth approximately $1,240,000. Tributary Capital Management LLC raised its position in shares of Concentra Group Holdings Parent by 12.4% in the fourth quarter. Tributary Capital Management LLC now owns 566,839 shares of the company's stock valued at $11,155,000 after purchasing an additional 62,573 shares during the period. Norges Bank bought a new position in shares of Concentra Group Holdings Parent in the fourth quarter valued at approximately $43,404,000. First Eagle Investment Management LLC lifted its stake in shares of Concentra Group Holdings Parent by 18.4% in the fourth quarter. First Eagle Investment Management LLC now owns 383,206 shares of the company's stock worth $7,541,000 after buying an additional 59,500 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Concentra Group Holdings Parent by 168.4% during the 4th quarter. SG Americas Securities LLC now owns 60,711 shares of the company's stock worth $1,195,000 after buying an additional 38,093 shares during the period.

Insider Buying and Selling

In other Concentra Group Holdings Parent news, Director Robert A. Ortenzio sold 130,000 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were 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 represents a 20.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 520,000 shares of company stock valued at $14,604,200 in the last quarter. 8.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CON shares. The Goldman Sachs Group assumed coverage on Concentra Group Holdings Parent in a research report on Friday, June 5th. They issued a "buy" rating and a $30.00 price target on the stock. Truist Financial raised their target price on Concentra Group Holdings Parent from $31.00 to $37.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Weiss Ratings upgraded shares of Concentra Group Holdings Parent from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. Finally, William Blair began coverage on Concentra Group Holdings Parent in a report on Wednesday, July 1st. They set an "outperform" rating on the stock. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $31.40.

Concentra Group Holdings Parent Trading Down 1.5%

CON stock opened at $30.64 on Thursday. Concentra Group Holdings Parent, Inc. has a 1-year low of $18.55 and a 1-year high of $32.86. 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 business's 50 day moving average is $29.52 and its 200-day moving average is $25.29. The firm has a market cap of $3.92 billion, a P/E ratio of 22.05, a P/E/G ratio of 1.42 and a beta of 0.62.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.40 EPS for the quarter, beating 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 business had revenue of $569.55 million for the quarter, compared to analyst estimates of $553.53 million. During the same quarter in the previous year, the firm earned $0.32 EPS. Concentra Group Holdings Parent's quarterly revenue was up 13.7% on a year-over-year basis. Equities analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.52 earnings per share for the current fiscal year.

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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