Insider Selling: Concentra Group Holdings Parent (NYSE:CON) Director Sells 130,000 Shares of Stock

Key Points

• Director Robert Ortenzio sold 130,000 shares of Concentra Group Holdings Parent (NYSE:CON) at $25.00 each, totaling $3.25 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• The stock was slightly lower in Tuesday trading, down 0.9% to $25.06, near its 52-week high of $26.66. The company’s market cap is about $3.21 billion, with a PE ratio of 18.12.
• Recent fundamentals and sentiment remain positive: the company beat quarterly earnings and revenue expectations, and analysts currently rate the stock a Moderate Buy with a consensus price target of $30.25.

Concentra Group Holdings Parent, Inc. (NYSE:CON - Get Free Report) Director Robert Ortenzio sold 130,000 shares of Concentra Group Holdings Parent stock in a transaction on Monday, June 1st. The shares were sold at an average price of $25.00, for a total value of $3,250,000.00. Following the completion of the transaction, the director owned 763,455 shares in the company, valued at $19,086,375. The trade was a 14.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Concentra Group Holdings Parent Trading Down 0.9%

Concentra Group Holdings Parent stock traded down $0.22 during midday trading on Tuesday, reaching $25.06. The stock had a trading volume of 985,913 shares, compared to its average volume of 941,886. Concentra Group Holdings Parent, Inc. has a twelve month low of $18.55 and a twelve month high of $26.66. The stock has a market capitalization of $3.21 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 1.13 and a beta of 0.82. The company has a debt-to-equity ratio of 3.62, a quick ratio of 1.26 and a current ratio of 1.26. The stock's 50-day simple moving average is $23.26 and its 200 day simple moving average is $22.02.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.05. Concentra Group Holdings Parent had a return on equity of 47.14% and a net margin of 7.97%.The firm had revenue of $569.56 million for the quarter, compared to analysts' expectations of $553.53 million. During the same quarter last year, the firm earned $0.32 earnings per share. The firm's revenue for the quarter was up 13.7% compared to the same quarter last year. Analysts expect that Concentra Group Holdings Parent, Inc. will post 1.53 EPS for the current year.

Concentra Group Holdings Parent Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th will be issued a $0.0625 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $0.25 dividend on an annualized basis and a yield of 1.0%. Concentra Group Holdings Parent's dividend payout ratio (DPR) is presently 17.99%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CON. Weiss Ratings upgraded Concentra Group Holdings Parent from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. Wells Fargo & Company boosted their price objective on Concentra Group Holdings Parent from $25.00 to $28.00 and gave the stock an "overweight" rating in a research note on Thursday, March 5th. Royal Bank Of Canada boosted their price objective on Concentra Group Holdings Parent from $30.00 to $31.00 and gave the stock an "outperform" rating in a research note on Monday, February 2nd. Finally, Truist Financial restated a "buy" rating and set a $31.00 price objective (up from $29.00) on shares of Concentra Group Holdings Parent in a research note on Monday, May 11th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $30.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund increased its holdings in Concentra Group Holdings Parent by 1.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 27,308 shares of the company's stock valued at $537,000 after buying an additional 500 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Concentra Group Holdings Parent by 32.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,118 shares of the company's stock valued at $42,000 after buying an additional 514 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in Concentra Group Holdings Parent by 1.9% in the first quarter. Gamco Investors INC. ET AL now owns 29,256 shares of the company's stock valued at $628,000 after buying an additional 536 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Concentra Group Holdings Parent by 124.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company's stock valued at $25,000 after buying an additional 663 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in Concentra Group Holdings Parent by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 22,750 shares of the company's stock valued at $448,000 after buying an additional 690 shares during the last quarter.

Concentra Group Holdings Parent Company Profile

Concentra Group Holdings Parent NYSE: CON is a Canada-based financial services holding company that specializes in serving Canadian credit unions and their members. Through its operating subsidiaries, the group provides wholesale funding, lending solutions and investment management services tailored to the unique needs of cooperative financial institutions. Concentra’s broad suite of offerings includes trust and custody services, mortgage investment products and equipment financing, all designed to support credit-union growth and stability.

In addition to wholesale funding and lending, Concentra Group Holdings Parent distributes life and general insurance products through affiliated insurance brokers and credit-union channels.

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