51,491 Shares in Addus HomeCare Corporation $ADUS Purchased by 8 Knots Management LLC

8 Knots Management LLC bought a new stake in shares of Addus HomeCare Corporation (NASDAQ:ADUS) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 51,491 shares of the company’s stock, valued at approximately $6,075,000. Addus HomeCare accounts for approximately 0.7% of 8 Knots Management LLC’s investment portfolio, making the stock its 18th biggest position. 8 Knots Management LLC owned about 0.28% of Addus HomeCare at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AlphaQuest LLC bought a new stake in shares of Addus HomeCare during the third quarter valued at approximately $37,000. State of Wyoming bought a new position in shares of Addus HomeCare during the second quarter worth $47,000. Raymond James Financial Inc. bought a new position in shares of Addus HomeCare during the second quarter worth $61,000. Blue Trust Inc. grew its stake in Addus HomeCare by 42.9% during the third quarter. Blue Trust Inc. now owns 536 shares of the company’s stock valued at $63,000 after acquiring an additional 161 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Addus HomeCare by 560.0% during the second quarter. EverSource Wealth Advisors LLC now owns 561 shares of the company’s stock valued at $65,000 after acquiring an additional 476 shares in the last quarter. 95.35% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Brian Poff sold 2,041 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $106.98, for a total transaction of $218,346.18. Following the sale, the executive vice president owned 64,512 shares in the company, valued at approximately $6,901,493.76. This represents a 3.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP David W. Tucker sold 704 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $107.35, for a total value of $75,574.40. Following the completion of the sale, the executive vice president owned 10,802 shares of the company’s stock, valued at approximately $1,159,594.70. This represents a 6.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 16,760 shares of company stock worth $1,786,247. Company insiders own 4.50% of the company’s stock.

Addus HomeCare Trading Up 1.6%

ADUS opened at $101.35 on Friday. The stock has a 50-day moving average of $107.94 and a 200 day moving average of $112.10. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.11. Addus HomeCare Corporation has a 12 month low of $88.96 and a 12 month high of $124.43. The firm has a market cap of $1.88 billion, a P/E ratio of 19.45, a P/E/G ratio of 1.41 and a beta of 0.92.

Wall Street Analysts Forecast Growth

Several analysts have commented on ADUS shares. Truist Financial set a $135.00 price target on shares of Addus HomeCare and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Stephens cut their price objective on Addus HomeCare from $140.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Wall Street Zen raised Addus HomeCare from a “buy” rating to a “strong-buy” rating in a report on Monday, February 23rd. Barclays decreased their target price on Addus HomeCare from $117.00 to $112.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 24th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $139.00 price target on shares of Addus HomeCare in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.33.

Addus HomeCare Company Profile

Addus HomeCare (NASDAQ: ADUS) is a leading provider of home and community-based care services for elderly, disabled, and medically complex individuals across the United States. Through a network of company-owned and franchise locations, the company delivers a broad spectrum of non-medical personal care and licensed home health services designed to support clients’ independence and quality of life.

The company’s core offerings include personal care assistance—covering daily living activities, medication reminders, and light housekeeping—and skilled home health services delivered under the supervision of registered nurses and licensed therapists.