Punch & Associates Investment Management Inc. Takes $20.91 Million Position in Addus HomeCare Corporation $ADUS

Key Points

• Punch & Associates acquired a new $20.91 million stake in Addus HomeCare during the second quarter, purchasing 208,135 shares, or approximately 1.11% of the company. Institutional investors collectively own 95.35% of ADUS.
• Addus HomeCare exceeded quarterly expectations, reporting $1.73 in EPS versus the $1.70 consensus and $377.41 million in revenue, up 8% year over year.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $130.88, compared with an opening price of $120.71.

Punch & Associates Investment Management Inc. acquired a new stake in shares of Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 208,135 shares of the company's stock, valued at approximately $20,911,000. Addus HomeCare makes up approximately 1.0% of Punch & Associates Investment Management Inc.'s portfolio, making the stock its 28th largest position. Punch & Associates Investment Management Inc. owned 1.11% of Addus HomeCare as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada increased its holdings in shares of Addus HomeCare by 24.3% in the first quarter. Royal Bank of Canada now owns 6,899 shares of the company's stock worth $682,000 after purchasing an additional 1,347 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Addus HomeCare by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,374 shares of the company's stock worth $1,026,000 after acquiring an additional 459 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Addus HomeCare by 6.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 51,679 shares of the company's stock valued at $5,111,000 after acquiring an additional 2,952 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Addus HomeCare by 387.6% in the 1st quarter. Jane Street Group LLC now owns 11,045 shares of the company's stock valued at $1,092,000 after acquiring an additional 8,780 shares in the last quarter. Finally, Intech Investment Management LLC boosted its position in shares of Addus HomeCare by 44.7% during the 1st quarter. Intech Investment Management LLC now owns 14,362 shares of the company's stock valued at $1,420,000 after acquiring an additional 4,439 shares during the last quarter. 95.35% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Addus HomeCare news, insider Heather Brianne Dixon sold 288 shares of the business's stock in a transaction 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 transaction, the insider directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is currently owned by company insiders.

Addus HomeCare Price Performance

ADUS stock opened at $120.71 on Thursday. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 1.62 and a beta of 0.87. The firm's 50-day moving average price is $111.05 and its two-hundred day moving average price is $102.79. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.05. Addus HomeCare Corporation has a 12-month low of $87.95 and a 12-month high of $124.43.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ADUS shares. Weiss Ratings raised Addus HomeCare from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, July 9th. Barclays upped their target price on Addus HomeCare from $92.00 to $96.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 8th. Royal Bank Of Canada lifted their price target on shares of Addus HomeCare from $130.00 to $134.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Citigroup restated a "market outperform" rating on shares of Addus HomeCare in a report on Friday, July 24th. Finally, Citizens Jmp reaffirmed a "market outperform" rating and issued a $142.00 price objective on shares of Addus HomeCare in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $130.88.

Addus HomeCare 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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