Russell Investments Group Ltd. Lowers Position in Target Hospitality Corp. (NASDAQ:TH)

Russell Investments Group Ltd. lessened its stake in Target Hospitality Corp. (NASDAQ:TH) by 6.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,037 shares of the company’s stock after selling 2,305 shares during the quarter. Russell Investments Group Ltd.’s holdings in Target Hospitality were worth $474,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TH. ExodusPoint Capital Management LP bought a new stake in shares of Target Hospitality in the 2nd quarter worth approximately $67,000. Legal & General Group Plc boosted its stake in shares of Target Hospitality by 432.7% during the 2nd quarter. Legal & General Group Plc now owns 12,221 shares of the company’s stock worth $70,000 after acquiring an additional 9,927 shares during the last quarter. Raymond James & Associates purchased a new position in Target Hospitality during the first quarter valued at approximately $70,000. Point72 Middle East FZE purchased a new stake in shares of Target Hospitality in the fourth quarter worth $75,000. Finally, American International Group Inc. raised its position in shares of Target Hospitality by 15.5% during the 2nd quarter. American International Group Inc. now owns 14,298 shares of the company’s stock valued at $82,000 after purchasing an additional 1,918 shares during the period. Institutional investors own 31.96% of the company’s stock.

Target Hospitality Trading Up 0.5 %

Shares of TH opened at $15.98 on Monday. The stock has a fifty day moving average price of $13.68 and a 200-day moving average price of $14.24. The firm has a market cap of $1.62 billion, a PE ratio of 12.02, a P/E/G ratio of 0.65 and a beta of 2.14. Target Hospitality Corp. has a 12 month low of $10.40 and a 12 month high of $18.48.

Target Hospitality (NASDAQ:TH) last posted its quarterly earnings data on Wednesday, August 9th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. Target Hospitality had a net margin of 23.34% and a return on equity of 74.02%. The company had revenue of $143.63 million during the quarter, compared to analysts’ expectations of $134.60 million. As a group, research analysts forecast that Target Hospitality Corp. will post 1.6 EPS for the current year.

Insider Activity at Target Hospitality

In other news, insider Troy C. Schrenk sold 2,223 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $15.52, for a total transaction of $34,500.96. Following the transaction, the insider now owns 89,465 shares of the company’s stock, valued at approximately $1,388,496.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Troy C. Schrenk sold 2,223 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $15.52, for a total transaction of $34,500.96. Following the completion of the transaction, the insider now directly owns 89,465 shares in the company, valued at approximately $1,388,496.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Eric Kalamaras sold 47,195 shares of Target Hospitality stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $16.54, for a total value of $780,605.30. Following the completion of the transaction, the chief financial officer now owns 33,939 shares of the company’s stock, valued at approximately $561,351.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 131,279 shares of company stock valued at $2,100,612. 68.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Oppenheimer dropped their price target on Target Hospitality from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, August 10th.

About Target Hospitality

Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America. The company operates through four segments: Hospitality & Facilities Services – South, Hospitality & Facilities Services – Midwest, Government, and TCPL Keystone. It owns a network of specialty rental accommodation units.