Target Hospitality Corp. $TH Stake Boosted by Rhumbline Advisers

Rhumbline Advisers grew its stake in shares of Target Hospitality Corp. (NASDAQ:TH) by 3.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,426 shares of the company’s stock after purchasing an additional 1,515 shares during the quarter. Rhumbline Advisers’ holdings in Target Hospitality were worth $312,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Royce & Associates LP grew its holdings in shares of Target Hospitality by 44.0% during the first quarter. Royce & Associates LP now owns 15,783 shares of the company’s stock valued at $104,000 after purchasing an additional 4,819 shares during the last quarter. Two Sigma Advisers LP bought a new position in shares of Target Hospitality during the fourth quarter valued at approximately $105,000. EntryPoint Capital LLC bought a new position in Target Hospitality in the 1st quarter worth approximately $108,000. AQR Capital Management LLC bought a new position in Target Hospitality in the 1st quarter worth approximately $114,000. Finally, Strs Ohio bought a new position in Target Hospitality in the 1st quarter worth approximately $131,000. 32.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TH. Wall Street Zen raised Target Hospitality from a “sell” rating to a “hold” rating in a report on Sunday. Stifel Nicolaus raised Target Hospitality from a “hold” rating to a “buy” rating and increased their price objective for the stock from $7.50 to $11.00 in a report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $13.00.

Target Hospitality Stock Performance

TH opened at $9.14 on Thursday. The company has a market capitalization of $911.99 million, a price-to-earnings ratio of 91.40 and a beta of 2.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 1.47. Target Hospitality Corp. has a 1-year low of $4.00 and a 1-year high of $11.10. The business has a 50 day moving average price of $8.34 and a two-hundred day moving average price of $7.38.

Target Hospitality (NASDAQ:TH) last released its earnings results on Thursday, August 7th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). The firm had revenue of $61.61 million during the quarter, compared to analyst estimates of $56.43 million. Target Hospitality had a return on equity of 3.26% and a net margin of 3.58%. Target Hospitality has set its FY 2025 guidance at EPS. Research analysts predict that Target Hospitality Corp. will post 0.65 EPS for the current fiscal year.

Insider Buying and Selling

In other Target Hospitality news, EVP Troy C. Schrenk sold 49,344 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $8.58, for a total value of $423,371.52. Following the completion of the sale, the executive vice president directly owned 174,553 shares in the company, valued at $1,497,664.74. This represents a 22.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Heidi Diane Lewis sold 12,256 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $8.71, for a total value of $106,749.76. Following the completion of the sale, the executive vice president owned 172,198 shares of the company’s stock, valued at $1,499,844.58. This trade represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 68.00% of the company’s stock.

About Target Hospitality

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.