LB Partners LLC Purchases 402,428 Shares of Target Hospitality Corp. (NASDAQ:TH)

LB Partners LLC grew its position in Target Hospitality Corp. (NASDAQ:TH) by 300.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 536,428 shares of the company’s stock after acquiring an additional 402,428 shares during the quarter. Target Hospitality accounts for about 3.6% of LB Partners LLC’s holdings, making the stock its 8th largest position. LB Partners LLC owned 0.53% of Target Hospitality worth $4,173,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Covestor Ltd boosted its position in Target Hospitality by 13.9% in the first quarter. Covestor Ltd now owns 8,925 shares of the company’s stock valued at $97,000 after buying an additional 1,092 shares in the last quarter. Bleakley Financial Group LLC bought a new stake in Target Hospitality during the 1st quarter worth approximately $122,000. Quest Partners LLC increased its holdings in Target Hospitality by 4,201.9% during the 2nd quarter. Quest Partners LLC now owns 13,508 shares of the company’s stock valued at $118,000 after purchasing an additional 13,194 shares in the last quarter. SG Americas Securities LLC bought a new position in Target Hospitality in the 3rd quarter valued at $108,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Target Hospitality by 11.9% in the second quarter. The Manufacturers Life Insurance Company now owns 14,480 shares of the company’s stock worth $126,000 after purchasing an additional 1,540 shares in the last quarter. 32.40% of the stock is currently owned by institutional investors.

Target Hospitality Price Performance

Shares of NASDAQ:TH traded down $0.09 during midday trading on Monday, reaching $7.39. The company’s stock had a trading volume of 104,979 shares, compared to its average volume of 529,358. The business’s fifty day simple moving average is $9.01 and its 200-day simple moving average is $9.64. The company has a market capitalization of $741.05 million, a P/E ratio of 5.43, a P/E/G ratio of 0.83 and a beta of 2.08. Target Hospitality Corp. has a fifty-two week low of $6.11 and a fifty-two week high of $16.02.

Target Hospitality (NASDAQ:TH) last announced its earnings results on Wednesday, August 7th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $100.72 million for the quarter, compared to analyst estimates of $101.25 million. Target Hospitality had a net margin of 23.97% and a return on equity of 30.89%. Target Hospitality’s quarterly revenue was down 29.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 earnings per share. On average, analysts forecast that Target Hospitality Corp. will post 0.62 earnings per share for the current fiscal year.

About Target Hospitality

Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America. The company operates through two segments, Hospitality & Facilities Services – South and Government. It owns a network of specialty rental accommodation units. In addition, the company provides catering and food, maintenance, housekeeping, grounds-keeping, security, health and recreation facilities, workforce community management, concierge, and laundry services.