Concentra Group Holdings Parent (NYSE:CON) Sets New 1-Year High – Here’s What Happened

Concentra Group Holdings Parent, Inc. (NYSE:CON)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $32.86 and last traded at $31.5750, with a volume of 773530 shares changing hands. The stock had previously closed at $32.69.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. The Goldman Sachs Group started coverage on Concentra Group Holdings Parent in a research report on Friday, June 5th. They set a “buy” rating and a $30.00 price target for the company. Truist Financial raised their price target on Concentra Group Holdings Parent from $31.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Weiss Ratings raised Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Finally, William Blair began coverage on Concentra Group Holdings Parent in a research note on Wednesday, July 1st. They set an “outperform” rating on the stock. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $31.40.

Concentra Group Holdings Parent Stock Up 0.2%

The firm has a market cap of $4.05 billion, a P/E ratio of 22.79, a P/E/G ratio of 1.44 and a beta of 0.64. The firm’s fifty day moving average is $29.18 and its 200 day moving average is $25.04. The company has a debt-to-equity ratio of 3.62, a quick ratio of 1.26 and a current ratio of 1.26.

Concentra Group Holdings Parent (NYSE:CON) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. The firm had revenue of $569.55 million for the quarter, compared to analysts’ expectations of $553.53 million. Concentra Group Holdings Parent had a net margin of 7.97% and a return on equity of 47.14%. The business’s revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 EPS. As a group, equities research analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.52 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.0625 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.8%. Concentra Group Holdings Parent’s dividend payout ratio (DPR) is 17.99%.

Insider Buying and Selling at Concentra Group Holdings Parent

In related news, Director Robert A. Ortenzio sold 130,000 shares of Concentra Group Holdings Parent stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $30.50, for a total transaction of $3,965,000.00. Following the completion of the sale, the director directly owned 633,455 shares of the company’s stock, valued at approximately $19,320,377.50. This trade represents a 17.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 390,000 shares of company stock worth $10,465,000 in the last 90 days. 8.10% of the stock is currently owned by company insiders.

Institutional Trading of Concentra Group Holdings Parent

Several institutional investors have recently added to or reduced their stakes in the company. Hussman Strategic Advisors Inc. bought a new stake in shares of Concentra Group Holdings Parent in the fourth quarter valued at about $1,240,000. Tributary Capital Management LLC grew its stake in shares of Concentra Group Holdings Parent by 12.4% in the fourth quarter. Tributary Capital Management LLC now owns 566,839 shares of the company’s stock valued at $11,155,000 after acquiring an additional 62,573 shares in the last quarter. Norges Bank bought a new position in Concentra Group Holdings Parent during the fourth quarter worth about $43,404,000. First Eagle Investment Management LLC increased its position in Concentra Group Holdings Parent by 18.4% during the fourth quarter. First Eagle Investment Management LLC now owns 383,206 shares of the company’s stock worth $7,541,000 after acquiring an additional 59,500 shares during the period. Finally, SG Americas Securities LLC increased its position in Concentra Group Holdings Parent by 168.4% during the fourth quarter. SG Americas Securities LLC now owns 60,711 shares of the company’s stock worth $1,195,000 after acquiring an additional 38,093 shares during the period.

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.