Summit Global Investments Trims Stock Holdings in Addus HomeCare Co. (NASDAQ:ADUS)

Summit Global Investments reduced its holdings in shares of Addus HomeCare Co. (NASDAQ:ADUS) by 7.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,968 shares of the company’s stock after selling 784 shares during the quarter. Summit Global Investments owned about 0.06% of Addus HomeCare worth $1,326,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Point72 Asset Management L.P. raised its holdings in Addus HomeCare by 73.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 745,824 shares of the company’s stock valued at $86,598,000 after acquiring an additional 315,602 shares during the period. Millennium Management LLC lifted its holdings in Addus HomeCare by 412.7% during the 2nd quarter. Millennium Management LLC now owns 316,418 shares of the company’s stock worth $36,739,000 after purchasing an additional 254,705 shares in the last quarter. Boston Partners purchased a new stake in Addus HomeCare during the 1st quarter worth about $12,215,000. Ghisallo Capital Management LLC bought a new position in Addus HomeCare in the 2nd quarter worth about $11,611,000. Finally, Lord Abbett & CO. LLC purchased a new position in Addus HomeCare during the 1st quarter valued at about $8,274,000. 95.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Macquarie restated an “outperform” rating and issued a $139.00 price objective on shares of Addus HomeCare in a research report on Monday, November 4th. Stephens raised their price target on shares of Addus HomeCare from $143.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday. KeyCorp assumed coverage on shares of Addus HomeCare in a research report on Friday, October 11th. They set an “overweight” rating and a $150.00 price target for the company. Royal Bank of Canada lowered their price objective on Addus HomeCare from $141.00 to $136.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, TD Cowen boosted their target price on Addus HomeCare from $128.00 to $137.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Addus HomeCare has an average rating of “Moderate Buy” and an average price target of $131.63.

Addus HomeCare Stock Down 1.2 %

Addus HomeCare stock opened at $127.58 on Friday. The firm has a fifty day simple moving average of $129.60 and a two-hundred day simple moving average of $121.21. Addus HomeCare Co. has a twelve month low of $81.51 and a twelve month high of $136.12. The company has a market capitalization of $2.31 billion, a PE ratio of 29.19, a P/E/G ratio of 2.33 and a beta of 1.04.

Addus HomeCare (NASDAQ:ADUS) last released its earnings results on Monday, November 4th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.02. Addus HomeCare had a return on equity of 10.12% and a net margin of 6.50%. The company had revenue of $289.80 million during the quarter, compared to analyst estimates of $289.42 million. During the same quarter in the previous year, the company posted $1.03 EPS. Addus HomeCare’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities analysts expect that Addus HomeCare Co. will post 4.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Addus HomeCare

In other news, Director Esteban Lopez sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $130.03, for a total value of $65,015.00. Following the transaction, the director now owns 3,866 shares in the company, valued at approximately $502,695.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Addus HomeCare news, Director Esteban Lopez sold 500 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $130.03, for a total transaction of $65,015.00. Following the completion of the sale, the director now owns 3,866 shares of the company’s stock, valued at $502,695.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael D. Wattenbarger sold 21,917 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $133.29, for a total transaction of $2,921,316.93. Following the completion of the transaction, the executive vice president now owns 7,215 shares in the company, valued at $961,687.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,917 shares of company stock worth $3,050,082. 4.60% of the stock is currently owned by insiders.

Addus HomeCare 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.