Concentra Group Holdings Parent (NYSE:CON) Director Sells $3,250,000.00 in Stock

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

Concentra Group Holdings Parent Trading Up 0.9%

Shares of CON opened at $24.98 on Friday. The company has a debt-to-equity ratio of 3.62, a current ratio of 1.26 and a quick ratio of 1.26. Concentra Group Holdings Parent, Inc. has a 1 year low of $18.55 and a 1 year high of $26.66. The company has a 50 day simple moving average of $23.44 and a two-hundred day simple moving average of $22.13. The firm has a market cap of $3.20 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 1.12 and a beta of 0.82.

Concentra Group Holdings Parent (NYSE:CON) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Concentra Group Holdings Parent had a net margin of 7.97% and a return on equity of 47.14%. The business had revenue of $569.56 million during the quarter, compared to analyst estimates of $553.53 million. During the same period last year, the firm posted $0.32 EPS. The company’s revenue was up 13.7% on a year-over-year basis. On average, equities analysts expect that Concentra Group Holdings Parent, Inc. will post 1.53 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Dividend Announcement

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

Institutional Trading of Concentra Group Holdings Parent

Institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its position in shares of Concentra Group Holdings Parent by 124.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company’s stock worth $25,000 after purchasing an additional 663 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Concentra Group Holdings Parent by 2,784.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,442 shares of the company’s stock worth $30,000 after purchasing an additional 1,392 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Concentra Group Holdings Parent by 49.1% during the third quarter. Public Employees Retirement System of Ohio now owns 1,604 shares of the company’s stock worth $34,000 after purchasing an additional 528 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Concentra Group Holdings Parent during the fourth quarter worth $35,000. Finally, Osaic Holdings Inc. lifted its position in shares of Concentra Group Holdings Parent by 59.5% during the second quarter. Osaic Holdings Inc. now owns 2,041 shares of the company’s stock worth $42,000 after purchasing an additional 761 shares during the last quarter.

Wall Street Analysts Forecast Growth

CON has been the subject of a number of recent research reports. Weiss Ratings raised shares of Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Truist Financial reaffirmed 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. Finally, Wells Fargo & Company lifted their price objective on shares of 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. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.25.

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.