Allspring Global Investments Holdings LLC Sells 1,903 Shares of Target Hospitality Corp. (NASDAQ:TH)

Allspring Global Investments Holdings LLC reduced its position in shares of Target Hospitality Corp. (NASDAQ:TH) by 42.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,610 shares of the company’s stock after selling 1,903 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Target Hospitality were worth $35,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Bailard Inc. grew its stake in shares of Target Hospitality by 2.9% during the 2nd quarter. Bailard Inc. now owns 41,048 shares of the company’s stock valued at $551,000 after purchasing an additional 1,151 shares during the period. ARS Wealth Advisors Group LLC bought a new position in shares of Target Hospitality during the 2nd quarter valued at approximately $233,000. Wedge Capital Management L L P NC bought a new position in shares of Target Hospitality during the 2nd quarter valued at approximately $1,286,000. Crestmont Private Wealth LLC bought a new position in shares of Target Hospitality during the 2nd quarter valued at approximately $620,000. Finally, Nordea Investment Management AB grew its stake in shares of Target Hospitality by 144.3% during the 2nd quarter. Nordea Investment Management AB now owns 178,999 shares of the company’s stock valued at $2,390,000 after acquiring an additional 105,734 shares during the period. 31.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Oppenheimer boosted their price objective on Target Hospitality from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday, October 3rd.

Target Hospitality Trading Up 5.3 %

NASDAQ TH opened at $11.53 on Friday. The stock’s 50 day moving average is $14.24 and its 200 day moving average is $14.18. Target Hospitality Corp. has a 12 month low of $10.74 and a 12 month high of $18.48. The stock has a market cap of $1.17 billion, a PE ratio of 7.39, a P/E/G ratio of 0.46 and a beta of 2.16.

Target Hospitality (NASDAQ:TH) last posted its quarterly earnings results on Wednesday, November 8th. The company reported $0.43 EPS for the quarter, hitting analysts’ consensus estimates of $0.43. Target Hospitality had a return on equity of 63.16% and a net margin of 28.39%. The company had revenue of $145.60 million for the quarter, compared to analysts’ expectations of $140.77 million. During the same period in the previous year, the firm earned $0.41 EPS. The firm’s revenue was down 8.8% compared to the same quarter last year. On average, analysts forecast that Target Hospitality Corp. will post 1.62 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Eric Kalamaras sold 2,456 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $16.53, for a total transaction of $40,597.68. Following the sale, the chief financial officer now directly owns 30,480 shares of the company’s stock, valued at approximately $503,834.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Eric Kalamaras sold 2,456 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $16.53, for a total transaction of $40,597.68. Following the sale, the chief financial officer now directly owns 30,480 shares of the company’s stock, valued at approximately $503,834.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Troy C. Schrenk sold 4,901 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $16.50, for a total value of $80,866.50. Following the sale, the insider now directly owns 31,323 shares in the company, valued at $516,829.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,408 shares of company stock valued at $1,324,946. Corporate insiders own 68.20% of the company’s stock.

Target Hospitality Profile

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.