Monarch Partners Asset Management LLC Raises Stock Holdings in Hanger Inc (OTCMKTS:HNGR)

Monarch Partners Asset Management LLC boosted its holdings in shares of Hanger Inc (OTCMKTS:HNGR) by 548.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 206,024 shares of the healthcare company’s stock after purchasing an additional 174,230 shares during the quarter. Monarch Partners Asset Management LLC owned approximately 0.55% of Hanger worth $4,199,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Victory Capital Management Inc. boosted its position in Hanger by 3.5% during the second quarter. Victory Capital Management Inc. now owns 3,766,301 shares of the healthcare company’s stock worth $72,125,000 after purchasing an additional 126,451 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Hanger by 17.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,222,508 shares of the healthcare company’s stock valued at $61,711,000 after acquiring an additional 475,478 shares in the last quarter. BlackRock Inc. lifted its position in shares of Hanger by 367.0% in the second quarter. BlackRock Inc. now owns 2,648,491 shares of the healthcare company’s stock valued at $50,718,000 after acquiring an additional 2,081,388 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Hanger by 12.7% in the second quarter. Vanguard Group Inc. now owns 1,701,898 shares of the healthcare company’s stock valued at $32,591,000 after acquiring an additional 191,640 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Hanger by 16.2% in the second quarter. Wells Fargo & Company MN now owns 1,243,954 shares of the healthcare company’s stock valued at $23,821,000 after acquiring an additional 173,525 shares in the last quarter. Institutional investors own 3.61% of the company’s stock.

Separately, Zacks Investment Research downgraded Hanger from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st.

Shares of OTCMKTS HNGR traded up $1.07 during midday trading on Friday, hitting $24.04. The stock had a trading volume of 595,567 shares, compared to its average volume of 323,851. The stock has a 50 day simple moving average of $20.86 and a 200-day simple moving average of $19.34. Hanger Inc has a 1 year low of $15.50 and a 1 year high of $25.00.

Hanger (OTCMKTS:HNGR) last released its earnings results on Thursday, November 7th. The healthcare company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. The firm had revenue of $279.64 million during the quarter, compared to analysts’ expectations of $274.14 million.

About Hanger

Hanger, Inc provides orthotic and prosthetic (O&P) services; and distributes O&P devices and components, manages O&P networks, and provides therapeutic solutions to patients and businesses in acute, post-acute, and clinic settings in the United States. It operates through two segments, Patient Care and Products & Services.

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Institutional Ownership by Quarter for Hanger (OTCMKTS:HNGR)

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