Redwood Investments LLC Sells 13,575 Shares of The Ensign Group, Inc. $ENSG

Key Points

• Redwood Investments LLC has decreased its stake in The Ensign Group by 26.7%, now owning 37,341 shares valued at approximately $4.83 million, making it the 17th largest holding in their portfolio.
• The Ensign Group reported $1.59 earnings per share for the last quarter, surpassing analysts' expectations of $1.54, and showed a revenue increase of 18.5% year-over-year.
• Several analysts have adjusted their price targets for the stock, with UBS Group raising their target from $195.00 to $205.00, reflecting a positive outlook on the company's performance.

Redwood Investments LLC trimmed its position in The Ensign Group, Inc. (NASDAQ:ENSG - Free Report) by 26.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,341 shares of the company's stock after selling 13,575 shares during the quarter. The Ensign Group comprises approximately 1.8% of Redwood Investments LLC's holdings, making the stock its 17th biggest position. Redwood Investments LLC owned about 0.06% of The Ensign Group worth $4,832,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ENSG. Ameriprise Financial Inc. increased its holdings in The Ensign Group by 13.4% in the 4th quarter. Ameriprise Financial Inc. now owns 80,025 shares of the company's stock worth $10,632,000 after acquiring an additional 9,433 shares in the last quarter. Baird Financial Group Inc. grew its holdings in The Ensign Group by 1.9% during the 4th quarter. Baird Financial Group Inc. now owns 5,384 shares of the company's stock valued at $715,000 after buying an additional 99 shares in the last quarter. Cetera Investment Advisers grew its holdings in The Ensign Group by 5.2% during the 4th quarter. Cetera Investment Advisers now owns 24,139 shares of the company's stock valued at $3,207,000 after buying an additional 1,185 shares in the last quarter. Crestline Management LP grew its holdings in The Ensign Group by 8.7% during the 4th quarter. Crestline Management LP now owns 1,944 shares of the company's stock valued at $258,000 after buying an additional 156 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in The Ensign Group by 64.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 174,844 shares of the company's stock valued at $23,230,000 after buying an additional 68,619 shares in the last quarter. 96.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Truist Financial increased their price objective on shares of The Ensign Group from $155.00 to $165.00 and gave the company a "hold" rating in a report on Monday, July 28th. UBS Group increased their price objective on shares of The Ensign Group from $195.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Finally, Stephens increased their price objective on shares of The Ensign Group from $165.00 to $170.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, The Ensign Group currently has an average rating of "Moderate Buy" and an average target price of $172.67.

Insider Buying and Selling

In related news, VP Beverly B. Wittekind sold 4,719 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $155.00, for a total value of $731,445.00. Following the completion of the sale, the vice president directly owned 38,679 shares in the company, valued at $5,995,245. This trade represents a 10.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Barry M. Smith sold 700 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $172.06, for a total value of $120,442.00. Following the completion of the sale, the director owned 27,052 shares of the company's stock, valued at approximately $4,654,567.12. This represents a 2.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,498 shares of company stock worth $2,201,175 over the last three months. 3.90% of the stock is owned by insiders.

The Ensign Group Price Performance

Shares of ENSG stock traded down $0.96 on Friday, reaching $167.99. The company's stock had a trading volume of 214,153 shares, compared to its average volume of 333,743. The stock's fifty day simple moving average is $158.14 and its 200-day simple moving average is $144.86. The Ensign Group, Inc. has a 1 year low of $118.73 and a 1 year high of $174.98. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of 30.49, a price-to-earnings-growth ratio of 1.94 and a beta of 0.93.

The Ensign Group (NASDAQ:ENSG - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $1.59 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.05. The Ensign Group had a net margin of 6.99% and a return on equity of 16.92%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the firm posted $1.32 earnings per share. The Ensign Group's revenue for the quarter was up 18.5% compared to the same quarter last year. The Ensign Group has set its FY 2025 guidance at 6.340-6.460 EPS. Analysts forecast that The Ensign Group, Inc. will post 5.59 earnings per share for the current fiscal year.

The Ensign Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were given a $0.0625 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.25 dividend on an annualized basis and a yield of 0.1%. The Ensign Group's dividend payout ratio (DPR) is currently 4.54%.

About The Ensign Group

The Ensign Group, Inc provides skilled nursing, senior living, and rehabilitative services. It operates through two segments: Skilled Services and Standard Bearer. The company's Skilled Services segment engages in the operation of skilled nursing facilities and rehabilitation therapy services for patients with chronic conditions, prolonged illness, and the elderly; and offers nursing facilities including specialty care, such as on-site dialysis, ventilator care, cardiac, and pulmonary management, as well as standard services comprising room and board, special nutritional programs, social services, recreational activities, entertainment, and other services.