Maverick Capital Ltd. Takes $591,000 Position in Concentra Group Holdings Parent, Inc. $CON

Maverick Capital Ltd. purchased a new position in shares of Concentra Group Holdings Parent, Inc. (NYSE:CON) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,560 shares of the company’s stock, valued at approximately $591,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CON. Norges Bank acquired a new position in Concentra Group Holdings Parent in the 4th quarter valued at $43,404,000. Woodline Partners LP lifted its stake in shares of Concentra Group Holdings Parent by 142.7% in the 3rd quarter. Woodline Partners LP now owns 2,746,505 shares of the company’s stock worth $57,484,000 after acquiring an additional 1,614,988 shares during the period. Jennison Associates LLC boosted its holdings in shares of Concentra Group Holdings Parent by 195.8% in the first quarter. Jennison Associates LLC now owns 2,172,291 shares of the company’s stock valued at $46,596,000 after acquiring an additional 1,437,912 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Concentra Group Holdings Parent by 38.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,577,610 shares of the company’s stock valued at $31,047,000 after acquiring an additional 436,212 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Concentra Group Holdings Parent by 48.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,329,498 shares of the company’s stock worth $28,850,000 after acquiring an additional 434,503 shares during the period.

Analysts Set New Price Targets

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

Insider Activity

In other news, Director Robert A. Ortenzio sold 130,000 shares of the business’s 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 sale, the director owned 633,455 shares of the company’s stock, valued at $19,320,377.50. The trade was a 17.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 390,000 shares of company stock worth $10,465,000. 8.10% of the stock is currently owned by company insiders.

Concentra Group Holdings Parent Stock Performance

NYSE:CON opened at $32.72 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.62. Concentra Group Holdings Parent, Inc. has a fifty-two week low of $18.55 and a fifty-two week high of $32.82. The stock has a market cap of $4.19 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 1.45 and a beta of 0.64. The firm’s fifty day simple moving average is $28.81 and its 200-day simple moving average is $24.83.

Concentra Group Holdings Parent (NYSE:CON) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. The firm had revenue of $569.55 million during 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 for the quarter was up 13.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 earnings per share. Analysts expect that Concentra Group Holdings Parent, Inc. will post 1.52 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Announces Dividend

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

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.