Senator Investment Group LP Acquires Shares of 1,399,345 Target Hospitality Corp. $TH

Key Points

• Senator Investment Group LP acquired 1,399,345 shares of Target Hospitality during the second quarter, valued at approximately $28.5 million and representing a 1.4% stake.
• Analysts maintain a generally positive outlook, with the stock holding a “Moderate Buy” consensus rating and an average price target of $24.00, above its reported $18.55 opening price.
• Target Hospitality exceeded quarterly expectations, reporting an adjusted loss of $0.09 per share versus the $0.11 consensus estimate and revenue of $85.45 million versus the $79.30 million forecast.

Senator Investment Group LP acquired a new stake in shares of Target Hospitality Corp. (NASDAQ:TH - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,399,345 shares of the company's stock, valued at approximately $28,491,000. Senator Investment Group LP owned about 1.40% of Target Hospitality at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TH. Quantbot Technologies LP purchased a new position in Target Hospitality during the second quarter valued at $27,000. Deutsche Bank AG grew its position in shares of Target Hospitality by 4.8% during the fourth quarter. Deutsche Bank AG now owns 33,634 shares of the company's stock valued at $269,000 after purchasing an additional 1,526 shares in the last quarter. AdvisorShares Investments LLC increased its holdings in shares of Target Hospitality by 17.9% in the fourth quarter. AdvisorShares Investments LLC now owns 11,820 shares of the company's stock worth $95,000 after purchasing an additional 1,798 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Target Hospitality by 88.0% in the third quarter. IFP Advisors Inc now owns 4,002 shares of the company's stock worth $35,000 after buying an additional 1,873 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Target Hospitality by 121.5% during the third quarter. Russell Investments Group Ltd. now owns 4,494 shares of the company's stock valued at $38,000 after buying an additional 2,465 shares during the last quarter. Institutional investors own 32.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Stifel Nicolaus set a $26.00 price target on Target Hospitality in a report on Thursday. Northland Securities set a $25.00 target price on Target Hospitality in a research report on Thursday. Oppenheimer boosted their price target on shares of Target Hospitality from $21.00 to $24.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 14th. Weiss Ratings raised shares of Target Hospitality from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, August 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $23.00 price objective on shares of Target Hospitality in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $24.00.

Target Hospitality Stock Performance

Shares of NASDAQ:TH opened at $18.55 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.11. Target Hospitality Corp. has a 12 month low of $5.97 and a 12 month high of $20.85. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of -48.82 and a beta of 1.50. The firm's 50-day moving average is $17.42 and its 200 day moving average is $14.66.

Target Hospitality (NASDAQ:TH - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. The business had revenue of $85.45 million during the quarter, compared to the consensus estimate of $79.30 million. Target Hospitality had a negative net margin of 10.85% and a negative return on equity of 9.80%. Research analysts predict that Target Hospitality Corp. will post -0.08 EPS for the current year.

Target Hospitality Profile

Target Hospitality is a lodging solutions provider specializing in the ownership and operation of modular workforce housing communities across North America. The company serves large-scale clients in the energy, mining, construction and government sectors that require temporary or long-term accommodations for remote workforces. Its housing portfolio includes suite-style units, single-family cabins and “man-camp” dormitories, designed to match project size, duration and workforce composition.

In addition to lodging, Target Hospitality delivers integrated support services such as on-site dining and culinary management, housekeeping, maintenance, facility management and logistics planning.

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