Insider Selling: The Advisory Board Co. (ABCO) CFO Sells 2,400 Shares of Stock
The Advisory Board Co. (NASDAQ:ABCO) CFO Michael T. Kirshbaum sold 2,400 shares of The Advisory Board stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $43.01, for a total transaction of $103,224.00. Following the sale, the chief financial officer now directly owns 45,503 shares in the company, valued at approximately $1,957,084.03. The sale was disclosed in a legal filing with the SEC, which is available at this link.
The Advisory Board Co. (NASDAQ:ABCO) opened at 44.18 on Friday. The Advisory Board Co. has a 12-month low of $18.87 and a 12-month high of $54.84. The stock’s 50 day moving average is $42.33 and its 200 day moving average is $35.80. The stock’s market capitalization is $1.78 billion.
The Advisory Board (NASDAQ:ABCO) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.13. The company had revenue of $198.40 million for the quarter, compared to the consensus estimate of $196.49 million. The Advisory Board had a negative net margin of 10.21% and a positive return on equity of 11.59%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 EPS. Equities analysts anticipate that The Advisory Board Co. will post $1.86 EPS for the current fiscal year.
ABCO has been the topic of a number of research reports. Barclays PLC lifted their target price on shares of The Advisory Board from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, July 28th. Credit Suisse Group AG began coverage on shares of The Advisory Board in a research note on Monday, June 20th. They set an “outperform” rating and a $40.00 target price on the stock. FBR & Co boosted their price objective on shares of The Advisory Board from $35.00 to $37.00 and gave the stock a “mkt perform” rating in a research note on Thursday, July 28th. Raymond James Financial Inc. lowered shares of The Advisory Board from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 19th. Finally, Zacks Investment Research raised shares of The Advisory Board from a “hold” rating to a “strong-buy” rating and set a $48.00 price objective on the stock in a research note on Monday, August 1st. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $43.40.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in The Advisory Board during the fourth quarter worth approximately $13,673,000. Pacad Investment Ltd. increased its position in The Advisory Board by 45.2% in the first quarter. Pacad Investment Ltd. now owns 8,728 shares of the company’s stock worth $281,000 after buying an additional 2,717 shares during the period. BlackRock Group LTD increased its position in The Advisory Board by 22.7% in the first quarter. BlackRock Group LTD now owns 27,766 shares of the company’s stock worth $895,000 after buying an additional 5,130 shares during the period. Massmutual Trust Co. FSB ADV increased its position in The Advisory Board by 87.6% in the first quarter. Massmutual Trust Co. FSB ADV now owns 7,251 shares of the company’s stock worth $234,000 after buying an additional 3,385 shares during the period. Finally, Champlain Investment Partners LLC increased its position in The Advisory Board by 26.6% in the first quarter. Champlain Investment Partners LLC now owns 6,950 shares of the company’s stock worth $224,000 after buying an additional 1,460 shares during the period.
About The Advisory Board
The Advisory Board Company is a provider of software and solutions to the healthcare and higher education industries. The Company’s healthcare programs address a range of clinical and business issues, including physician alignment and engagement, network management and growth strategy, value-based care and population health, revenue cycle, clinical operations and supply chain.
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