Nicholas Investment Partners LP Purchases New Position in Target Hospitality Corp. $TH

Nicholas Investment Partners LP purchased a new position in Target Hospitality Corp. (NASDAQ:TH) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 269,595 shares of the company’s stock, valued at approximately $5,489,000. Nicholas Investment Partners LP owned approximately 0.27% of Target Hospitality at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in shares of Target Hospitality in the 2nd quarter valued at approximately $27,000. IFP Advisors Inc increased its position in shares of Target Hospitality by 88.0% during the 3rd quarter. IFP Advisors Inc now owns 4,002 shares of the company’s stock valued at $35,000 after purchasing an additional 1,873 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Target Hospitality by 121.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,494 shares of the company’s stock valued at $38,000 after buying an additional 2,465 shares during the period. Galaxy Digital Capital Management GP LLC purchased a new stake in Target Hospitality during the 1st quarter valued at $67,000. Finally, Tripletail Wealth Management LLC lifted its position in Target Hospitality by 62.2% in the fourth quarter. Tripletail Wealth Management LLC now owns 11,630 shares of the company’s stock worth $93,000 after buying an additional 4,460 shares during the last quarter. 32.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on TH shares. Morgan Stanley began coverage on shares of Target Hospitality in a research note on Monday, August 17th. They set an “overweight” rating and a $22.00 price objective for the company. Oppenheimer increased their target price on shares of Target Hospitality from $21.00 to $24.00 and gave the company an “outperform” rating in a research note on Tuesday, July 14th. Northland Securities set a $24.00 target price on shares of Target Hospitality in a report on Tuesday, August 11th. Weiss Ratings raised shares of Target Hospitality from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Target Hospitality from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Target Hospitality has a consensus rating of “Moderate Buy” and an average price target of $21.40.

Target Hospitality Trading Down 0.1%

Shares of TH opened at $17.83 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -46.92 and a beta of 1.50. The company has a 50-day moving average of $17.56 and a 200 day moving average of $14.36. Target Hospitality Corp. has a 1-year low of $5.97 and a 1-year high of $20.85.

Target Hospitality (NASDAQ:TH) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. Target Hospitality had a negative return on equity of 9.80% and a negative net margin of 10.85%.The firm had revenue of $85.45 million for the quarter, compared to analyst estimates of $79.30 million. On average, research analysts expect that Target Hospitality Corp. will post -0.2 EPS for the current year.

Target Hospitality Profile

Target Hospitality is a lodging solutions provider specializing in the ownership and operation of modular workforce housing communities across North America. The company serves large-scale clients in the energy, mining, construction and government sectors that require temporary or long-term accommodations for remote workforces. Its housing portfolio includes suite-style units, single-family cabins and “man-camp” dormitories, designed to match project size, duration and workforce composition.

In addition to lodging, Target Hospitality delivers integrated support services such as on-site dining and culinary management, housekeeping, maintenance, facility management and logistics planning.