Gabelli Funds LLC Grows Stake in Target Hospitality Corp. (NASDAQ:TH)

Gabelli Funds LLC increased its holdings in Target Hospitality Corp. (NASDAQ:TH) by 207.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,049 shares of the company’s stock after buying an additional 31,049 shares during the period. Gabelli Funds LLC’s holdings in Target Hospitality were worth $401,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Covestor Ltd raised its holdings in shares of Target Hospitality by 13.9% in the 1st quarter. Covestor Ltd now owns 8,925 shares of the company’s stock valued at $97,000 after acquiring an additional 1,092 shares in the last quarter. Quest Partners LLC raised its stake in Target Hospitality by 4,201.9% in the second quarter. Quest Partners LLC now owns 13,508 shares of the company’s stock valued at $118,000 after purchasing an additional 13,194 shares in the last quarter. Bleakley Financial Group LLC bought a new stake in Target Hospitality during the first quarter valued at approximately $122,000. AdvisorShares Investments LLC lifted its position in Target Hospitality by 15.4% during the fourth quarter. AdvisorShares Investments LLC now owns 16,965 shares of the company’s stock valued at $165,000 after purchasing an additional 2,264 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new position in Target Hospitality in the 1st quarter worth approximately $174,000. Institutional investors own 32.40% of the company’s stock.

Target Hospitality Stock Performance

Target Hospitality stock opened at $7.42 on Friday. Target Hospitality Corp. has a fifty-two week low of $6.11 and a fifty-two week high of $16.73. The stock has a market cap of $744.69 million, a P/E ratio of 5.45, a price-to-earnings-growth ratio of 1.03 and a beta of 2.09. The firm’s fifty day moving average price is $9.54 and its 200-day moving average price is $9.87.

Target Hospitality (NASDAQ:TH) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Target Hospitality had a return on equity of 30.89% and a net margin of 23.97%. The business had revenue of $100.72 million for the quarter, compared to the consensus estimate of $101.25 million. During the same quarter last year, the business posted $0.44 earnings per share. The company’s revenue for the quarter was down 29.9% on a year-over-year basis. On average, analysts predict that Target Hospitality Corp. will post 0.62 earnings per share for the current year.

Target Hospitality Profile

Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America. The company operates through two segments, Hospitality & Facilities Services – South and Government. It owns a network of specialty rental accommodation units. In addition, the company provides catering and food, maintenance, housekeeping, grounds-keeping, security, health and recreation facilities, workforce community management, concierge, and laundry services.