Laurus Global Equity Management Inc. Boosts Position in The Ensign Group, Inc. (NASDAQ:ENSG)

Laurus Global Equity Management Inc. increased its position in The Ensign Group, Inc. (NASDAQ:ENSG) by 11.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 22,560 shares of the company’s stock after purchasing an additional 2,390 shares during the period. The Ensign Group comprises 1.9% of Laurus Global Equity Management Inc.’s investment portfolio, making the stock its 13th largest position. Laurus Global Equity Management Inc.’s holdings in The Ensign Group were worth $2,919,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ENSG. Opal Wealth Advisors LLC purchased a new stake in The Ensign Group in the first quarter worth $36,000. AdvisorNet Financial Inc bought a new stake in The Ensign Group in the first quarter worth $38,000. CBIZ Investment Advisory Services LLC boosted its holdings in The Ensign Group by 38.8% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 354 shares of the company’s stock worth $47,000 after acquiring an additional 99 shares in the last quarter. Blue Trust Inc. boosted its holdings in The Ensign Group by 39.0% in the first quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $60,000 after acquiring an additional 131 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in The Ensign Group by 109.2% in the first quarter. UMB Bank n.a. now owns 822 shares of the company’s stock worth $106,000 after acquiring an additional 429 shares in the last quarter. 96.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Macquarie dropped their target price on The Ensign Group from $159.00 to $156.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $163.50.

Insider Buying and Selling

In related news, VP Beverly B. Wittekind sold 4,719 shares of The Ensign Group stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $155.00, for a total transaction of $731,445.00. Following the sale, the vice president owned 38,679 shares of the company’s stock, valued at approximately $5,995,245. This trade represents a 10.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Barry M. Smith sold 700 shares of The Ensign Group stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $153.48, for a total value of $107,436.00. Following the sale, the director directly owned 27,852 shares in the company, valued at $4,274,724.96. This trade represents a 2.45% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,336 shares of company stock worth $2,902,377. Corporate insiders own 3.90% of the company’s stock.

The Ensign Group Trading Down 1.2%

Shares of NASDAQ:ENSG opened at $143.98 on Friday. The company has a market cap of $8.28 billion, a P/E ratio of 27.22, a PEG ratio of 1.69 and a beta of 1.03. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.40 and a quick ratio of 1.40. The Ensign Group, Inc. has a 1 year low of $118.73 and a 1 year high of $158.45. The stock’s fifty day moving average price is $147.88 and its 200-day moving average price is $136.94.

The Ensign Group (NASDAQ:ENSG) last posted its earnings results on Tuesday, April 29th. The company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.02. The Ensign Group had a return on equity of 16.90% and a net margin of 6.99%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the company earned $1.30 earnings per share. The Ensign Group’s revenue was up 16.1% on a year-over-year basis. Sell-side analysts expect that The Ensign Group, Inc. will post 5.59 earnings per share for the current year.

The Ensign Group Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend is Monday, June 30th. The Ensign Group’s payout ratio is 4.73%.

About The Ensign Group

The Ensign Group, Inc provides skilled nursing, senior living, and rehabilitative services. It operates through two segments: Skilled Services and Standard Bearer. The company's Skilled Services segment engages in the operation of skilled nursing facilities and rehabilitation therapy services for patients with chronic conditions, prolonged illness, and the elderly; and offers nursing facilities including specialty care, such as on-site dialysis, ventilator care, cardiac, and pulmonary management, as well as standard services comprising room and board, special nutritional programs, social services, recreational activities, entertainment, and other services.