Penn Capital Management Company LLC Makes New Investment in Addus HomeCare Corporation $ADUS

Key Points

• Penn Capital Management acquired 25,830 shares of Addus HomeCare worth approximately $2.6 million, while institutional investors collectively owned 95.35% of the company.
• Addus HomeCare beat quarterly earnings expectations, reporting $1.73 EPS and $377.4 million in revenue; revenue increased 8% year over year.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $130.88, above the reported share price of $115.55.

Penn Capital Management Company LLC acquired a new stake in Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 25,830 shares of the company's stock, valued at approximately $2,595,000. Penn Capital Management Company LLC owned approximately 0.14% of Addus HomeCare at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Hsbc Holdings PLC grew its holdings in shares of Addus HomeCare by 73.3% during the 2nd quarter. Hsbc Holdings PLC now owns 24,463 shares of the company's stock worth $2,446,000 after purchasing an additional 10,350 shares in the last quarter. Caitlin John LLC acquired a new position in Addus HomeCare in the second quarter valued at about $341,000. Public Employees Retirement System of Ohio acquired a new position in Addus HomeCare in the second quarter valued at about $1,692,000. PenderFund Capital Management Ltd. bought a new stake in Addus HomeCare during the second quarter worth about $1,858,000. Finally, Capstone Investment Advisors LLC bought a new stake in Addus HomeCare during the second quarter worth about $689,000. 95.35% of the stock is currently owned by institutional investors.

Insider Activity

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

Addus HomeCare Price Performance

Shares of ADUS stock opened at $115.55 on Friday. The business has a fifty day simple moving average of $111.95 and a 200 day simple moving average of $102.96. The company has a market cap of $2.16 billion, a P/E ratio of 20.27, a P/E/G ratio of 1.55 and a beta of 0.87. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.05. Addus HomeCare Corporation has a twelve month low of $87.95 and a twelve month high of $124.43.

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

Wall Street Analysts Forecast Growth

ADUS has been the topic of several recent analyst reports. Citigroup reissued 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 report on Thursday, July 9th. Citizens Jmp reaffirmed a "market outperform" rating and set a $142.00 price target on shares of Addus HomeCare in a report on Monday, May 18th. Barclays increased their price target on shares of Addus HomeCare from $92.00 to $96.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 8th. Finally, Royal Bank Of Canada lifted their price objective on shares of Addus HomeCare from $130.00 to $134.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $130.88.

About Addus HomeCare

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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