Summit Global Investments Sells 784 Shares of Addus HomeCare Co. (NASDAQ:ADUS)

Summit Global Investments reduced its stake in shares of Addus HomeCare Co. (NASDAQ:ADUS) by 7.3% during the third quarter, Holdings Channel reports. The firm owned 9,968 shares of the company’s stock after selling 784 shares during the quarter. Summit Global Investments’ holdings in Addus HomeCare were worth $1,326,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ADUS. Vanguard Group Inc. raised its stake in Addus HomeCare by 1.5% in the first quarter. Vanguard Group Inc. now owns 1,276,467 shares of the company’s stock worth $131,910,000 after buying an additional 19,027 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Addus HomeCare by 73.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 745,824 shares of the company’s stock valued at $86,598,000 after acquiring an additional 315,602 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Addus HomeCare by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 714,253 shares of the company’s stock worth $82,930,000 after acquiring an additional 5,421 shares during the period. Principal Financial Group Inc. raised its position in shares of Addus HomeCare by 17.5% in the 3rd quarter. Principal Financial Group Inc. now owns 505,853 shares of the company’s stock worth $67,293,000 after acquiring an additional 75,409 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Addus HomeCare by 412.7% in the 2nd quarter. Millennium Management LLC now owns 316,418 shares of the company’s stock worth $36,739,000 after acquiring an additional 254,705 shares in the last quarter. 95.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Addus HomeCare news, EVP Michael D. Wattenbarger sold 21,917 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $133.29, for a total transaction of $2,921,316.93. Following the transaction, the executive vice president now owns 7,215 shares in the company, valued at approximately $961,687.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Michael D. Wattenbarger sold 21,917 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $133.29, for a total transaction of $2,921,316.93. Following the transaction, the executive vice president now directly owns 7,215 shares of the company’s stock, valued at $961,687.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Esteban Lopez sold 500 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $127.50, for a total value of $63,750.00. Following the completion of the transaction, the director now owns 3,366 shares in the company, valued at approximately $429,165. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,917 shares of company stock worth $3,050,082. 4.60% of the stock is owned by corporate insiders.

Addus HomeCare Stock Down 1.2 %

NASDAQ:ADUS opened at $127.58 on Friday. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 2.33 and a beta of 1.04. The company’s 50 day moving average price is $129.60 and its 200-day moving average price is $121.21. Addus HomeCare Co. has a 52 week low of $81.51 and a 52 week high of $136.12.

Addus HomeCare (NASDAQ:ADUS) last issued its earnings results on Monday, November 4th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.28 by $0.02. Addus HomeCare had a return on equity of 10.12% and a net margin of 6.50%. The business had revenue of $289.80 million for the quarter, compared to the consensus estimate of $289.42 million. During the same period last year, the business posted $1.03 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Addus HomeCare Co. will post 4.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ADUS shares. Macquarie reaffirmed an “outperform” rating and issued a $139.00 price target on shares of Addus HomeCare in a research note on Monday, November 4th. Oppenheimer upped their target price on shares of Addus HomeCare from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. TD Cowen increased their price target on shares of Addus HomeCare from $128.00 to $137.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Stephens boosted their price objective on shares of Addus HomeCare from $143.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, KeyCorp assumed coverage on shares of Addus HomeCare in a research note on Friday, October 11th. They set an “overweight” rating and a $150.00 target price for the company. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.63.

Addus HomeCare Profile

Addus HomeCare Corporation, together with its subsidiaries, provides personal care services to elderly, chronically ill, disabled persons, and individuals who are at risk of hospitalization or institutionalization in the United States. The company operates through three segments: Personal Care, Hospice, and Home Health.