Legal & General Group Plc Invests $1.48 Million in Target Hospitality Corp. $TH

Key Points

• Legal & General Group Plc acquired 72,490 shares of Target Hospitality in the second quarter, valued at approximately $1.48 million, giving it a 0.07% stake. Institutional investors collectively own 32.4% of the company.
• Target Hospitality exceeded quarterly expectations, reporting a loss of $0.09 per share versus the anticipated $0.11 loss and revenue of $85.45 million compared with estimates of $79.30 million.
• Analysts remain generally positive, with a consensus “Moderate Buy” rating and an average price target of $24, above the stock’s reported $19.52 opening price.

Legal & General Group Plc acquired a new stake in Target Hospitality Corp. (NASDAQ:TH - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 72,490 shares of the company's stock, valued at approximately $1,476,000. Legal & General Group Plc owned 0.07% of Target Hospitality as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Quantbot Technologies LP acquired a new position in Target Hospitality during the 2nd quarter worth about $27,000. IFP Advisors Inc increased its stake in shares of Target Hospitality by 88.0% in the third quarter. IFP Advisors Inc now owns 4,002 shares of the company's stock valued at $35,000 after buying an additional 1,873 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Target Hospitality by 121.5% in the third quarter. Russell Investments Group Ltd. now owns 4,494 shares of the company's stock valued at $38,000 after buying an additional 2,465 shares during the period. Galaxy Digital Capital Management GP LLC bought a new stake in Target Hospitality in the first quarter valued at approximately $67,000. Finally, State of Wyoming acquired a new stake in Target Hospitality during the 2nd quarter valued at approximately $191,000. 32.40% of the stock is owned by institutional investors.

Target Hospitality Stock Performance

Shares of TH stock opened at $19.52 on Monday. The company has a market cap of $1.94 billion, a P/E ratio of -51.37 and a beta of 1.51. The stock has a 50 day simple moving average of $17.25 and a two-hundred day simple moving average of $15.06. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.65 and a current ratio of 0.65. Target Hospitality Corp. has a fifty-two week low of $5.97 and a fifty-two week high of $20.85.

Target Hospitality (NASDAQ:TH - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.02. The firm had revenue of $85.45 million for 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 forecast that Target Hospitality Corp. will post -0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TH has been the subject of several analyst reports. Oppenheimer raised their price target on shares of Target Hospitality from $21.00 to $24.00 and gave the stock an "outperform" rating in a report on Tuesday, July 14th. Northland Securities set a $25.00 price objective on shares of Target Hospitality in a research report on Thursday, August 27th. Morgan Stanley assumed coverage on shares of Target Hospitality in a research note on Monday, August 17th. They set an "overweight" rating and a $22.00 target price for the company. Stifel Nicolaus set a $26.00 target price on shares of Target Hospitality in a report on Thursday, August 27th. Finally, Weiss Ratings upgraded shares of Target Hospitality from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Target Hospitality has a consensus rating of "Moderate Buy" and an average target price of $24.00.

Target Hospitality Profile

Target Hospitality is a lodging solutions provider specializing in the ownership and operation of modular workforce housing communities across North America. The company serves large-scale clients in the energy, mining, construction and government sectors that require temporary or long-term accommodations for remote workforces. Its housing portfolio includes suite-style units, single-family cabins and “man-camp” dormitories, designed to match project size, duration and workforce composition.

In addition to lodging, Target Hospitality delivers integrated support services such as on-site dining and culinary management, housekeeping, maintenance, facility management and logistics planning.

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