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 firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $30.50, for a total transaction of $3,965,000.00. Following the completion of the sale, the director owned 633,455 shares of the company’s stock, valued at $19,320,377.50. This trade represents a 17.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Concentra Group Holdings Parent Stock Performance

CON opened at $31.68 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 12-month low of $18.55 and a 12-month high of $32.35. The business has a 50 day moving average of $26.62 and a 200-day moving average of $23.59. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 22.79, a PEG ratio of 1.45 and a beta of 0.64.

Concentra Group Holdings Parent (NYSE:CON) last posted its earnings results on Thursday, May 7th. The company reported $0.40 earnings per share 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 $569.55 million for the quarter, compared to analyst estimates of $553.53 million. During the same period in the previous year, the firm earned $0.32 EPS. The firm’s revenue was up 13.7% compared to the same quarter last year. On average, equities research analysts expect that Concentra Group Holdings Parent, Inc. will post 1.52 earnings per share for the current year.

Concentra Group Holdings Parent Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Concentra Group Holdings Parent’s dividend payout ratio is currently 17.99%.

Analysts Set New Price Targets

CON has been the subject of several recent research reports. Weiss Ratings upgraded Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Truist Financial reissued a “buy” rating and issued a $31.00 target price (up from $29.00) on shares of Concentra Group Holdings Parent in a research report on Monday, May 11th. The Goldman Sachs Group began coverage on shares of Concentra Group Holdings Parent in a research report on Friday, June 5th. They set a “buy” rating and a $30.00 price target on the stock. Finally, William Blair started coverage on shares of Concentra Group Holdings Parent in a research note on Wednesday, July 1st. They issued an “outperform” rating for the company. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Concentra Group Holdings Parent currently has an average rating of “Moderate Buy” and a consensus target price of $30.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CON. JPMorgan Chase & Co. increased its holdings in Concentra Group Holdings Parent by 13.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,874,283 shares of the company’s stock worth $81,089,000 after purchasing an additional 445,449 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new stake in shares of Concentra Group Holdings Parent during the fourth quarter worth about $1,240,000. Tributary Capital Management LLC increased its position in Concentra Group Holdings Parent by 12.4% in the 4th quarter. Tributary Capital Management LLC now owns 566,839 shares of the company’s stock valued at $11,155,000 after acquiring an additional 62,573 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Concentra Group Holdings Parent in the third quarter valued at $35,124,000. Finally, Prosight Management LP raised its position in Concentra Group Holdings Parent by 95.4% during the 3rd quarter. Prosight Management LP now owns 610,000 shares of the company’s stock worth $12,767,000 after purchasing an additional 297,895 shares during the last quarter.

About Concentra Group Holdings Parent

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.