Balyasny Asset Management L.P. Cuts Stake in Huron Consulting Group Inc. (NASDAQ:HURN)

Balyasny Asset Management L.P. reduced its stake in Huron Consulting Group Inc. (NASDAQ:HURN) by 81.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,020 shares of the business services provider’s stock after selling 12,940 shares during the period. Balyasny Asset Management L.P.’s holdings in Huron Consulting Group were worth $375,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. BNP Paribas Financial Markets grew its stake in shares of Huron Consulting Group by 4.5% in the fourth quarter. BNP Paribas Financial Markets now owns 12,855 shares of the business services provider’s stock worth $1,597,000 after acquiring an additional 554 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Huron Consulting Group by 10.0% in the fourth quarter. Ameriprise Financial Inc. now owns 57,273 shares of the business services provider’s stock worth $7,117,000 after acquiring an additional 5,187 shares during the last quarter. AXA S.A. grew its stake in shares of Huron Consulting Group by 9.1% in the fourth quarter. AXA S.A. now owns 31,175 shares of the business services provider’s stock worth $3,874,000 after acquiring an additional 2,605 shares during the last quarter. Freestone Grove Partners LP purchased a new stake in shares of Huron Consulting Group in the fourth quarter worth $333,000. Finally, Northern Trust Corp grew its stake in shares of Huron Consulting Group by 10.0% in the fourth quarter. Northern Trust Corp now owns 256,895 shares of the business services provider’s stock worth $31,922,000 after acquiring an additional 23,392 shares during the last quarter. 93.90% of the stock is owned by hedge funds and other institutional investors.

Huron Consulting Group Trading Up 3.3%

Shares of NASDAQ:HURN opened at $152.93 on Friday. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 33.25 and a beta of 0.23. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.61 and a current ratio of 1.61. The stock’s 50-day simple moving average is $143.56 and its two-hundred day simple moving average is $132.67. Huron Consulting Group Inc. has a 52-week low of $84.87 and a 52-week high of $155.00.

Huron Consulting Group (NASDAQ:HURN) last announced its earnings results on Tuesday, April 29th. The business services provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.52. The business had revenue of $404.14 million for the quarter, compared to analysts’ expectations of $389.27 million. Huron Consulting Group had a return on equity of 21.51% and a net margin of 5.80%. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period last year, the firm posted $1.23 earnings per share. Analysts expect that Huron Consulting Group Inc. will post 6.1 EPS for the current year.

Insiders Place Their Bets

In other Huron Consulting Group news, Director John Mccartney sold 500 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $133.63, for a total value of $66,815.00. Following the transaction, the director now directly owns 51,621 shares of the company’s stock, valued at approximately $6,898,114.23. This trade represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director H Eugene Lockhart sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $150.00, for a total value of $1,875,000.00. Following the completion of the transaction, the director now directly owns 12,172 shares in the company, valued at $1,825,800. The trade was a 50.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,239 shares of company stock valued at $11,168,801. Insiders own 2.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Barrington Research increased their target price on Huron Consulting Group from $167.00 to $173.00 and gave the stock an “outperform” rating in a research note on Monday, May 5th. William Blair reaffirmed an “outperform” rating on shares of Huron Consulting Group in a research report on Wednesday, March 26th. Truist Financial increased their price objective on Huron Consulting Group from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Wedbush increased their price objective on Huron Consulting Group from $150.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, March 26th. Finally, StockNews.com cut Huron Consulting Group from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $170.75.

Huron Consulting Group Company Profile

Huron Consulting Group Inc, a professional services firm, provides consultancy services in the United States and internationally. It operates through three segments: Healthcare, Education, and Commercial. The Healthcare segment provides financial and operational performance improvement consulting services; digital offerings, spanning technology and analytic-related services; software products; organizational transformation services; revenue cycle managed and outsourcing services; financial and capital advisory consulting services; and strategy and innovation consulting services to national and regional health systems, academic and community health systems, federal health system, public, children’s and critical access hospitals, physician practices and medical groups, payors, and long-term care or post-acute providers.