Premier Fund Managers Ltd Invests $726,000 in Addus HomeCare Corporation (NASDAQ:ADUS)

Key Points

• Premier Fund Managers Ltd has acquired a new stake in Addus HomeCare Corporation, purchasing 7,457 shares valued at approximately $726,000 during Q1.
• Significant increases in stakes have been noted from other institutional investors, including GAMMA Investing LLC which increased its holding by over 10,307%.
• Addus HomeCare reported better-than-expected quarterly earnings with $1.42 EPS, beating the analyst consensus estimate of $1.33.

Premier Fund Managers Ltd purchased a new position in Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,457 shares of the company's stock, valued at approximately $726,000.

Several other institutional investors also recently bought and sold shares of the business. Capital Research Global Investors acquired a new position in shares of Addus HomeCare during the fourth quarter valued at about $51,149,000. GAMMA Investing LLC increased its stake in Addus HomeCare by 10,307.8% during the 1st quarter. GAMMA Investing LLC now owns 130,930 shares of the company's stock valued at $12,948,000 after purchasing an additional 129,672 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Addus HomeCare by 273.6% in the fourth quarter. Bank of America Corp DE now owns 175,070 shares of the company's stock worth $21,945,000 after buying an additional 128,211 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Addus HomeCare by 1,229.4% during the first quarter. Allianz Asset Management GmbH now owns 100,898 shares of the company's stock worth $9,978,000 after buying an additional 93,308 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Addus HomeCare by 18.3% during the first quarter. Principal Financial Group Inc. now owns 475,818 shares of the company's stock valued at $47,054,000 after buying an additional 73,720 shares during the last quarter. 95.35% of the stock is owned by hedge funds and other institutional investors.

Addus HomeCare Price Performance

Shares of NASDAQ:ADUS traded down $1.82 during trading on Friday, reaching $104.96. The stock had a trading volume of 199,141 shares, compared to its average volume of 189,302. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.74 and a current ratio of 1.74. Addus HomeCare Corporation has a 1-year low of $88.96 and a 1-year high of $136.72. The stock has a market cap of $1.93 billion, a PE ratio of 23.69, a PEG ratio of 1.53 and a beta of 0.81. The business has a fifty day moving average price of $112.05 and a 200-day moving average price of $108.95.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.09. The business had revenue of $337.71 million during the quarter, compared to analyst estimates of $341.66 million. Addus HomeCare had a net margin of 6.52% and a return on equity of 9.23%. The company's revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 earnings per share. On average, equities analysts forecast that Addus HomeCare Corporation will post 4.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ADUS has been the subject of a number of research analyst reports. Wall Street Zen upgraded Addus HomeCare from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Macquarie reaffirmed an "outperform" rating and issued a $133.00 price target on shares of Addus HomeCare in a report on Tuesday, June 10th. Finally, JMP Securities restated a "market outperform" rating and issued a $150.00 target price on shares of Addus HomeCare in a research note on Wednesday, July 16th. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $142.57.

Insiders Place Their Bets

In other news, EVP Michael D. Wattenbarger sold 2,045 shares of Addus HomeCare stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $115.00, for a total transaction of $235,175.00. Following the transaction, the executive vice president owned 7,796 shares in the company, valued at $896,540. The trade was a 20.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.60% of the company's stock.

Addus HomeCare Company Profile

Addus HomeCare Corporation, together with its subsidiaries, provides personal care services to elderly, chronically ill, disabled persons, and individuals who are at risk of hospitalization or institutionalization in the United States. The company operates through three segments: Personal Care, Hospice, and Home Health.