PenderFund Capital Management Ltd. Invests $1.86 Million in Addus HomeCare Corporation $ADUS

Key Points

• PenderFund Capital Management purchased 18,497 Addus HomeCare shares valued at approximately $1.86 million, taking a 0.10% stake. Institutional investors collectively own 95.35% of the company.
• Analysts maintain a generally positive outlook, with Addus HomeCare receiving a “Moderate Buy” consensus rating and an average price target of $130.88; several firms recently raised their targets.
• Addus HomeCare exceeded quarterly expectations, reporting $1.73 in earnings per share versus the $1.70 consensus and $377.41 million in revenue, up 8% year over year.

PenderFund Capital Management Ltd. purchased a new stake in shares of Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 18,497 shares of the company's stock, valued at approximately $1,858,000. PenderFund Capital Management Ltd. owned 0.10% of Addus HomeCare as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its stake in Addus HomeCare by 2.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,153 shares of the company's stock worth $446,000 after buying an additional 103 shares during the period. ProShare Advisors LLC raised its stake in shares of Addus HomeCare by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 3,527 shares of the company's stock valued at $379,000 after acquiring an additional 105 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in shares of Addus HomeCare by 0.6% in the second quarter. CANADA LIFE ASSURANCE Co now owns 18,684 shares of the company's stock valued at $2,150,000 after acquiring an additional 106 shares during the period. State of Wyoming lifted its holdings in shares of Addus HomeCare by 25.7% in the 4th quarter. State of Wyoming now owns 523 shares of the company's stock worth $56,000 after acquiring an additional 107 shares during the last quarter. Finally, Pathstone Holdings LLC lifted its holdings in shares of Addus HomeCare by 0.9% in the 3rd quarter. Pathstone Holdings LLC now owns 12,727 shares of the company's stock worth $1,502,000 after acquiring an additional 112 shares during the last quarter. 95.35% of the stock is currently owned by institutional investors.

Insider Activity at Addus HomeCare

In other news, insider Heather Brianne Dixon sold 288 shares of Addus HomeCare stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $93.77, for a total transaction of $27,005.76. Following the completion of the sale, the insider owned 44,371 shares of the company's stock, valued at approximately $4,160,668.67. The trade was a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.10% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Citigroup reiterated a "market outperform" rating on shares of Addus HomeCare in a report on Friday, July 24th. Weiss Ratings raised shares of Addus HomeCare from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, July 9th. Barclays boosted their target price on Addus HomeCare from $92.00 to $96.00 and gave the company an "underweight" rating in a research report on Wednesday, July 8th. Citizens Jmp reaffirmed a "market outperform" rating and set a $142.00 target price on shares of Addus HomeCare in a research note on Monday, May 18th. Finally, Royal Bank Of Canada increased their price target on Addus HomeCare from $130.00 to $134.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Addus HomeCare currently has an average rating of "Moderate Buy" and an average price target of $130.88.

Addus HomeCare Trading Down 2.2%

ADUS stock opened at $118.01 on Friday. The company has a market capitalization of $2.20 billion, a PE ratio of 20.70, a P/E/G ratio of 1.62 and a beta of 0.87. Addus HomeCare Corporation has a 12 month low of $87.95 and a 12 month high of $124.43. The firm's 50-day moving average is $111.53 and its 200 day moving average is $102.87. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.69 and a quick ratio of 1.69.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $1.73 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.03. The company had revenue of $377.41 million during the quarter, compared to analyst estimates of $376.24 million. Addus HomeCare had a net margin of 7.13% and a return on equity of 9.96%. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $1.49 EPS. On average, research analysts anticipate that Addus HomeCare Corporation will post 6.3 EPS for the current year.

Addus HomeCare Company Profile

Addus HomeCare NASDAQ: ADUS is a leading provider of home and community-based care services for elderly, disabled, and medically complex individuals across the United States. Through a network of company-owned and franchise locations, the company delivers a broad spectrum of non-medical personal care and licensed home health services designed to support clients' independence and quality of life.

The company's core offerings include personal care assistance—covering daily living activities, medication reminders, and light housekeeping—and skilled home health services delivered under the supervision of registered nurses and licensed therapists.

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