Walleye Capital LLC Sells 248,159 Shares of Concentra Group Holdings Parent, Inc. $CON

Walleye Capital LLC decreased its stake in shares of Concentra Group Holdings Parent, Inc. (NYSE:CON) by 95.3% during the first quarter, HoldingsChannel.com reports. The fund owned 12,296 shares of the company’s stock after selling 248,159 shares during the period. Walleye Capital LLC’s holdings in Concentra Group Holdings Parent were worth $264,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CON. Hussman Strategic Advisors Inc. bought a new stake in Concentra Group Holdings Parent during the fourth quarter worth approximately $1,240,000. Tributary Capital Management LLC lifted 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 worth $11,155,000 after buying an additional 62,573 shares during the last quarter. Norges Bank acquired a new stake in shares of Concentra Group Holdings Parent in the fourth quarter worth $43,404,000. First Eagle Investment Management LLC boosted its holdings in shares of Concentra Group Holdings Parent by 18.4% during the 4th quarter. First Eagle Investment Management LLC now owns 383,206 shares of the company’s stock worth $7,541,000 after buying an additional 59,500 shares during the period. Finally, SG Americas Securities LLC grew its stake in Concentra Group Holdings Parent by 168.4% in the 4th quarter. SG Americas Securities LLC now owns 60,711 shares of the company’s stock valued at $1,195,000 after buying an additional 38,093 shares during the last quarter.

Concentra Group Holdings Parent Stock Performance

Concentra Group Holdings Parent stock opened at $31.61 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. The stock has a fifty day moving average price of $28.55 and a two-hundred day moving average price of $24.62. Concentra Group Holdings Parent, Inc. has a 52-week low of $18.55 and a 52-week high of $32.51. The firm has a market capitalization of $4.04 billion, a P/E ratio of 22.74, a P/E/G ratio of 1.44 and a beta of 0.64.

Concentra Group Holdings Parent (NYSE:CON) last issued its earnings results on Thursday, May 7th. The company reported $0.40 EPS for the quarter, beating the consensus estimate 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 company had revenue of $569.55 million for the quarter, compared to the consensus estimate of $553.53 million. During the same quarter in the previous year, the company earned $0.32 EPS. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.52 EPS for the current fiscal year.

Concentra Group Holdings Parent Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Robert A. Ortenzio sold 130,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 390,000 shares of company stock worth $10,465,000 over the last quarter. 8.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CON has been the subject of a number of research analyst reports. Truist Financial boosted their target price on shares of Concentra Group Holdings Parent from $31.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. The Goldman Sachs Group assumed coverage on Concentra Group Holdings Parent in a research note on Friday, June 5th. They issued a “buy” rating and a $30.00 price objective on the stock. William Blair initiated coverage on Concentra Group Holdings Parent in a research report on Wednesday, July 1st. They set an “outperform” rating for the company. Finally, Weiss Ratings raised Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.40.

Concentra Group Holdings Parent 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.