Pacer Advisors Inc. Invests $2.81 Million in Target Hospitality Corp. (NASDAQ:TH)

Key Points

• Pacer Advisors Inc. has acquired a new stake in Target Hospitality Corp., purchasing 427,415 shares valued at approximately $2.81 million.
• In recent rating updates, Wall Street Zen upgraded Target Hospitality from a "sell" to a "hold" rating, contributing to a consensus rating of "Moderate Buy" among analysts.
• Target Hospitality reported a revenue of $69.90 million in its latest quarter, although it missed EPS expectations, with a decrease of 34.5% compared to the same quarter last year.

Pacer Advisors Inc. purchased a new position in shares of Target Hospitality Corp. (NASDAQ:TH - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 427,415 shares of the company's stock, valued at approximately $2,812,000. Pacer Advisors Inc. owned approximately 0.43% of Target Hospitality at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TH. Royce & Associates LP lifted its stake in shares of Target Hospitality by 44.0% during the 1st quarter. Royce & Associates LP now owns 15,783 shares of the company's stock worth $104,000 after purchasing an additional 4,819 shares during the last quarter. KLP Kapitalforvaltning AS lifted its stake in shares of Target Hospitality by 52.7% during the 1st quarter. KLP Kapitalforvaltning AS now owns 58,800 shares of the company's stock worth $387,000 after purchasing an additional 20,300 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Target Hospitality by 70.2% during the 1st quarter. Victory Capital Management Inc. now owns 75,558 shares of the company's stock worth $497,000 after purchasing an additional 31,169 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Target Hospitality by 59.6% during the 1st quarter. Teacher Retirement System of Texas now owns 446,649 shares of the company's stock worth $2,939,000 after purchasing an additional 166,815 shares during the last quarter. Finally, Fortitude Advisory Group L.L.C. purchased a new stake in shares of Target Hospitality during the 1st quarter worth $334,000. Institutional investors own 32.40% of the company's stock.

Target Hospitality Trading Down 2.1%

NASDAQ:TH traded down $0.16 on Friday, reaching $7.43. The company's stock had a trading volume of 209,211 shares, compared to its average volume of 618,555. Target Hospitality Corp. has a 12-month low of $4.00 and a 12-month high of $11.10. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.10. The firm has a market cap of $738.28 million, a price-to-earnings ratio of 17.28 and a beta of 1.83. The stock has a 50 day moving average price of $7.37 and a 200 day moving average price of $7.42.

Target Hospitality (NASDAQ:TH - Get Free Report) last issued its quarterly earnings data on Monday, May 19th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.03). Target Hospitality had a net margin of 12.71% and a return on equity of 11.34%. The firm had revenue of $69.90 million during the quarter, compared to analyst estimates of $65.37 million. During the same period in the previous year, the firm posted $0.20 earnings per share. The company's quarterly revenue was down 34.5% compared to the same quarter last year. On average, equities analysts anticipate that Target Hospitality Corp. will post 0.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Target Hospitality from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $11.25.

About Target Hospitality

Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America. The company operates through two segments, Hospitality & Facilities Services - South and Government. It owns a network of specialty rental accommodation units. In addition, the company provides catering and food, maintenance, housekeeping, grounds-keeping, security, health and recreation facilities, workforce community management, concierge, and laundry services.