Robert Ortenzio Sells 130,000 Shares of Concentra Group Holdings Parent (NYSE:CON) Stock

Concentra Group Holdings Parent, Inc. (NYSE:CON) Director Robert Ortenzio sold 130,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $25.00, for a total value of $3,250,000.00. Following the completion of the transaction, the director directly owned 763,455 shares of the company’s stock, valued at approximately $19,086,375. The trade was a 14.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Concentra Group Holdings Parent Price Performance

Shares of CON opened at $24.82 on Thursday. Concentra Group Holdings Parent, Inc. has a 12-month low of $18.55 and a 12-month high of $26.66. The business has a 50-day simple moving average of $23.38 and a two-hundred day simple moving average of $22.09. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.62. The stock has a market cap of $3.18 billion, a PE ratio of 17.86, a PEG ratio of 1.14 and a beta of 0.82.

Concentra Group Holdings Parent (NYSE:CON) last issued its earnings results on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. Concentra Group Holdings Parent had a return on equity of 47.14% and a net margin of 7.97%.The business had revenue of $569.56 million during the quarter, compared to analysts’ expectations of $553.53 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. Analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.53 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th will be given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, May 19th. Concentra Group Holdings Parent’s payout ratio is 17.99%.

Institutional Investors Weigh In On Concentra Group Holdings Parent

Institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its position in shares of Concentra Group Holdings Parent by 124.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company’s stock valued at $25,000 after purchasing an additional 663 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Concentra Group Holdings Parent by 2,784.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,442 shares of the company’s stock valued at $30,000 after purchasing an additional 1,392 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Concentra Group Holdings Parent by 49.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,604 shares of the company’s stock valued at $34,000 after purchasing an additional 528 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Concentra Group Holdings Parent during the 4th quarter valued at about $35,000. Finally, Osaic Holdings Inc. boosted its position in shares of Concentra Group Holdings Parent by 59.5% during the 2nd quarter. Osaic Holdings Inc. now owns 2,041 shares of the company’s stock valued at $42,000 after purchasing an additional 761 shares in the last quarter.

Analyst Upgrades and Downgrades

CON has been the topic of a number of analyst reports. Wells Fargo & Company upped their price target on Concentra Group Holdings Parent from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. Truist Financial reiterated a “buy” rating and issued a $31.00 price target (up from $29.00) on shares of Concentra Group Holdings Parent in a research report on Monday, May 11th. Finally, Weiss Ratings upgraded Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Concentra Group Holdings Parent presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.25.

Concentra Group Holdings Parent Company 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.