Allspring Global Investments Holdings LLC Has $2.80 Million Holdings in Addus HomeCare Corporation (NASDAQ:ADUS)

Allspring Global Investments Holdings LLC lessened its position in Addus HomeCare Corporation (NASDAQ:ADUS) by 59.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 28,307 shares of the company’s stock after selling 42,031 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.16% of Addus HomeCare worth $2,799,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Natixis boosted its position in shares of Addus HomeCare by 111.9% during the fourth quarter. Natixis now owns 250 shares of the company’s stock valued at $31,000 after buying an additional 132 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Addus HomeCare by 324.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock valued at $35,000 after buying an additional 214 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Addus HomeCare during the fourth quarter valued at approximately $77,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Addus HomeCare during the fourth quarter valued at approximately $86,000. Finally, Cibc World Markets Corp purchased a new position in shares of Addus HomeCare during the fourth quarter valued at approximately $204,000. Institutional investors and hedge funds own 95.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Stephens reaffirmed an “overweight” rating and set a $142.00 target price on shares of Addus HomeCare in a research report on Wednesday, March 12th. JMP Securities reissued a “market outperform” rating and issued a $150.00 price objective on shares of Addus HomeCare in a research report on Friday, June 20th. Wall Street Zen raised Addus HomeCare from a “hold” rating to a “buy” rating in a research report on Sunday, June 29th. Finally, Macquarie reissued an “outperform” rating and issued a $133.00 price objective on shares of Addus HomeCare in a research report on Tuesday, June 10th. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $142.57.

Insider Activity

In other news, EVP Michael D. Wattenbarger sold 2,045 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $115.00, for a total value of $235,175.00. Following the completion of the transaction, the executive vice president directly owned 7,796 shares in the company, valued at approximately $896,540. This represents a 20.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.60% of the company’s stock.

Addus HomeCare Price Performance

Addus HomeCare stock opened at $111.86 on Monday. Addus HomeCare Corporation has a 52 week low of $88.96 and a 52 week high of $136.72. The business has a 50-day simple moving average of $111.60 and a 200 day simple moving average of $111.00. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.20. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 1.58 and a beta of 0.81.

Addus HomeCare (NASDAQ:ADUS) last posted its quarterly earnings data on Monday, May 5th. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.09. Addus HomeCare had a return on equity of 9.23% and a net margin of 6.52%. The firm had revenue of $337.71 million during the quarter, compared to analysts’ expectations of $341.66 million. During the same period in the prior year, the business earned $1.21 EPS. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. On average, research analysts forecast that Addus HomeCare Corporation will post 4.59 earnings per share for the current fiscal year.

Addus HomeCare Profile

Addus HomeCare Corporation, together with its subsidiaries, provides personal care services to elderly, chronically ill, disabled persons, and individuals who are at risk of hospitalization or institutionalization in the United States. The company operates through three segments: Personal Care, Hospice, and Home Health.