Wellington Management Group LLP Buys 96,823 Shares of Addus HomeCare Corporation $ADUS

Key Points

• Wellington Management Group LLP increased its stake in Addus HomeCare Corporation by 25.8%, owning approximately 471,935 shares valued at $46.67 million.
• Analysts have a consensus rating of Buy for Addus HomeCare with an average target price of $138.38, indicating optimism for the stock's performance.
• Insider transactions included significant share sales by both the EVP and CEO, with combined sales amounting to over $3.2 million, representing notable decreases in their ownership percentages.

Wellington Management Group LLP increased its stake in shares of Addus HomeCare Corporation (NASDAQ:ADUS - Free Report) by 25.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 471,935 shares of the company's stock after purchasing an additional 96,823 shares during the quarter. Wellington Management Group LLP owned about 2.57% of Addus HomeCare worth $46,670,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Natixis raised its holdings in Addus HomeCare by 111.9% in the fourth quarter. Natixis now owns 250 shares of the company's stock worth $31,000 after purchasing an additional 132 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in shares of Addus HomeCare by 368.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,255 shares of the company's stock worth $124,000 after acquiring an additional 987 shares during the period. Bailard Inc. bought a new position in Addus HomeCare in the first quarter valued at $208,000. Heritage Family Offices LLP grew its position in Addus HomeCare by 6.3% in the first quarter. Heritage Family Offices LLP now owns 2,417 shares of the company's stock valued at $239,000 after purchasing an additional 143 shares in the last quarter. Finally, Private Advisor Group LLC grew its position in Addus HomeCare by 52.4% in the first quarter. Private Advisor Group LLC now owns 2,546 shares of the company's stock valued at $252,000 after purchasing an additional 875 shares in the last quarter. 95.35% of the stock is currently owned by institutional investors and hedge funds.

Addus HomeCare Stock Down 0.1%

ADUS traded down $0.15 during trading on Friday, hitting $115.17. 72,791 shares of the company's stock were exchanged, compared to its average volume of 196,587. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.17. The business's 50 day moving average is $112.06 and its two-hundred day moving average is $107.01. Addus HomeCare Corporation has a fifty-two week low of $88.96 and a fifty-two week high of $136.72. The stock has a market cap of $2.12 billion, a P/E ratio of 25.42, a PEG ratio of 1.76 and a beta of 0.80.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.04. Addus HomeCare had a net margin of 6.51% and a return on equity of 9.39%. The firm had revenue of $349.44 million for the quarter, compared to the consensus estimate of $345.71 million. During the same quarter in the prior year, the company posted $1.35 earnings per share. The business's revenue was up 21.8% on a year-over-year basis. As a group, equities analysts expect that Addus HomeCare Corporation will post 4.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO R Dirk Allison sold 25,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $114.95, for a total value of $2,873,750.00. Following the sale, the chief executive officer directly owned 166,461 shares of the company's stock, valued at approximately $19,134,691.95. This represents a 13.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Brian Poff sold 7,739 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $116.82, for a total transaction of $904,069.98. Following the completion of the sale, the executive vice president directly owned 56,980 shares in the company, valued at $6,656,403.60. This represents a 11.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,310 shares of company stock worth $3,958,375 over the last quarter. 4.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on ADUS. TD Cowen lifted their price objective on shares of Addus HomeCare from $135.00 to $139.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Macquarie reiterated an "outperform" rating and issued a $133.00 price objective on shares of Addus HomeCare in a research note on Tuesday, June 10th. Wall Street Zen upgraded shares of Addus HomeCare from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. Royal Bank Of Canada boosted their target price on shares of Addus HomeCare from $133.00 to $134.00 and gave the company an "outperform" rating in a research report on Friday, August 22nd. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $150.00 price target on shares of Addus HomeCare in a report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $138.38.

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.