Target Hospitality Corp. $TH Stock Bought by Calamos Advisors LLC

Key Points

• Calamos Advisors increased its Target Hospitality stake by 230.7% in the third quarter, adding 140,730 shares to reach 201,731 shares valued at about $3.98 million. Institutional investors collectively owned 32.4% of the company’s stock.
• Analysts gave the stock a consensus “Moderate Buy” rating and a $25.20 price target, though ratings ranged from Strong Buy to Sell.
• Target Hospitality reported a quarterly loss of $0.09 per share, narrower than analysts expected, while revenue of $85.45 million exceeded estimates. The CEO and another insider also disclosed stock purchases.

Calamos Advisors LLC lifted its position in shares of Target Hospitality Corp. (NASDAQ:TH - Free Report) by 230.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 201,731 shares of the company's stock after buying an additional 140,730 shares during the period. Calamos Advisors LLC owned about 0.20% of Target Hospitality worth $3,978,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Target Hospitality in the 2nd quarter valued at approximately $64,312,000. Senator Investment Group LP acquired a new position in Target Hospitality during the 2nd quarter worth approximately $28,491,000. Bank of New York Mellon Corp acquired a new position in Target Hospitality during the 2nd quarter worth approximately $8,140,000. Bank of America Corp DE acquired a new position in Target Hospitality during the 2nd quarter worth approximately $7,142,000. Finally, Nicholas Investment Partners LP bought a new position in shares of Target Hospitality during the 2nd quarter worth approximately $5,489,000. 32.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TH has been the topic of a number of recent research reports. Stifel Nicolaus set a $26.00 price objective on shares of Target Hospitality in a report on Thursday, August 27th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $23.00 price objective on shares of Target Hospitality in a research report on Thursday, August 27th. Oppenheimer raised their target price on shares of Target Hospitality from $24.00 to $27.00 and gave the company an "outperform" rating in a research report on Tuesday, September 8th. Morgan Stanley lifted their price target on shares of Target Hospitality from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, September 14th. Finally, Weiss Ratings cut shares of Target Hospitality from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Target Hospitality has a consensus rating of "Moderate Buy" and a consensus price target of $25.20.

Target Hospitality Stock Performance

Shares of NASDAQ TH opened at $11.36 on Monday. The stock has a 50 day moving average price of $17.50 and a 200 day moving average price of $14.81. Target Hospitality Corp. has a 52 week low of $5.97 and a 52 week high of $21.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $1.13 billion, a PE ratio of -29.89 and a beta of 1.56.

Target Hospitality (NASDAQ:TH - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.02. The firm had revenue of $85.45 million during the quarter, compared to the consensus estimate of $79.30 million. Target Hospitality had a negative return on equity of 9.80% and a negative net margin of 10.85%. Analysts predict that Target Hospitality Corp. will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO James Archer bought 13,385 shares of the firm's stock in a transaction that occurred on Tuesday, September 15th. The stock was acquired at an average cost of $18.69 per share, with a total value of $250,165.65. Following the completion of the purchase, the chief executive officer owned 1,845,441 shares of the company's stock, valued at $34,491,292.29. This represents a 0.73% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Troy C. Schrenk bought 5,907 shares of the firm's stock in a transaction that occurred on Friday, September 18th. The stock was purchased at an average cost of $21.16 per share, with a total value of $124,992.12. Following the completion of the purchase, the insider directly owned 216,995 shares of the company's stock, valued at $4,591,614.20. This represents a 2.80% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 3.80% of the company's stock.

Target Hospitality Profile

Target Hospitality Corp. NASDAQ: TH provides specialty rental and hospitality services for organizations that require temporary or long-term workforce housing. The company develops and operates workforce accommodation communities and related facilities, offering an integrated alternative to traditional hotels or permanent housing in locations where lodging infrastructure is limited.

Its services generally include furnished lodging, food services, housekeeping, laundry, transportation, maintenance, recreation and other facility-management support.

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