Norges Bank Invests $23 Million in Huron Consulting Group Inc. (NASDAQ:HURN)


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Norges Bank purchased a new position in shares of Huron Consulting Group Inc. (NASDAQ:HURN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 390,120 shares of the business services provider’s stock, valued at approximately $22,998,000. Norges Bank owned about 1.71% of Huron Consulting Group as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Lazard Asset Management LLC acquired a new position in shares of Huron Consulting Group during the fourth quarter worth approximately $73,000. Paloma Partners Management Co acquired a new position in shares of Huron Consulting Group during the third quarter worth approximately $252,000. ProShare Advisors LLC acquired a new position in shares of Huron Consulting Group during the fourth quarter worth approximately $296,000. Globeflex Capital L P acquired a new position in shares of Huron Consulting Group during the fourth quarter worth approximately $304,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Huron Consulting Group during the third quarter worth approximately $520,000. Institutional investors own 87.37% of the company’s stock.

Shares of NASDAQ:HURN opened at $54.43 on Friday. The business’s fifty day moving average price is $52.85 and its two-hundred day moving average price is $50.99. Huron Consulting Group Inc. has a fifty-two week low of $37.35 and a fifty-two week high of $61.99. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -272.14, a price-to-earnings-growth ratio of 1.69 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.48 and a quick ratio of 1.48.

Huron Consulting Group (NASDAQ:HURN) last announced its quarterly earnings results on Monday, February 22nd. The business services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.10. Huron Consulting Group had a positive return on equity of 10.12% and a negative net margin of 0.37%. The firm had revenue of $198.35 million for the quarter, compared to analysts’ expectations of $199.79 million. During the same period in the prior year, the business posted $0.79 earnings per share. The business’s revenue was down 14.6% compared to the same quarter last year. Research analysts expect that Huron Consulting Group Inc. will post 2.04 EPS for the current fiscal year.

A number of research analysts recently commented on HURN shares. Zacks Investment Research upgraded Huron Consulting Group from a “sell” rating to a “hold” rating and set a $66.00 target price for the company in a research note on Tuesday, January 5th. Barrington Research upped their target price on Huron Consulting Group from $60.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, March 1st. Finally, Sidoti started coverage on Huron Consulting Group in a research note on Friday, January 22nd. They issued a “buy” rating for the company.

In other Huron Consulting Group news, CEO James H. Roth sold 18,631 shares of the company’s stock in a transaction on Friday, March 5th. The stock was sold at an average price of $52.38, for a total value of $975,891.78. Following the sale, the chief executive officer now directly owns 162,353 shares in the company, valued at $8,504,050.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

About Huron Consulting Group

Huron Consulting Group Inc, a professional services firm, provides consultancy services in the United States and internationally. Its Healthcare segment provides advisory services in the areas of financial and operational improvement, care transformation, and revenue cycle managed services; organizational transformation; and digital, technology and analytic solutions to national and regional hospitals, integrated health systems, academic medical centers, community hospitals, and medical groups.

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Institutional Ownership by Quarter for Huron Consulting Group (NASDAQ:HURN)

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