64,611 Shares in The Advisory Board Co. (ABCO) Acquired by Stoneridge Investment Partners LLC
Stoneridge Investment Partners LLC bought a new stake in The Advisory Board Co. (NASDAQ:ABCO) during the second quarter, according to its most recent filing with the SEC. The institutional investor bought 64,611 shares of the company’s stock, valued at approximately $2,287,000. Stoneridge Investment Partners LLC owned 0.16% of The Advisory Board as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABCO. Norges Bank purchased a new position in The Advisory Board during the fourth quarter valued at approximately $13,673,000. Douglas Lane & Associates LLC purchased a new position in The Advisory Board during the first quarter valued at approximately $16,746,000. Pacad Investment Ltd. boosted its position in The Advisory Board by 45.2% in the first quarter. Pacad Investment Ltd. now owns 8,728 shares of the company’s stock valued at $281,000 after buying an additional 2,717 shares during the period. BlackRock Group LTD boosted its position in The Advisory Board by 22.7% in the first quarter. BlackRock Group LTD now owns 27,766 shares of the company’s stock valued at $895,000 after buying an additional 5,130 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its position in The Advisory Board by 87.6% in the first quarter. Massmutual Trust Co. FSB ADV now owns 7,251 shares of the company’s stock valued at $234,000 after buying an additional 3,385 shares during the period.
The Advisory Board Co. (NASDAQ:ABCO) traded up 3.07% during midday trading on Wednesday, reaching $44.31. 311,438 shares of the company’s stock were exchanged. The Advisory Board Co. has a 1-year low of $18.87 and a 1-year high of $54.84. The firm’s 50-day moving average is $42.25 and its 200 day moving average is $35.74. The stock’s market cap is $1.78 billion.
The Advisory Board (NASDAQ:ABCO) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.13. The firm earned $198.40 million during the quarter, compared to analysts’ expectations of $196.49 million. The Advisory Board had a negative net margin of 10.21% and a positive return on equity of 11.59%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 earnings per share. Equities analysts anticipate that The Advisory Board Co. will post $1.86 earnings per share for the current fiscal year.
Several research analysts have recently issued reports on ABCO shares. Canaccord Genuity reiterated a “buy” rating on shares of The Advisory Board in a report on Sunday, May 29th. Credit Suisse Group AG started coverage on shares of The Advisory Board in a report on Monday, June 20th. They issued an “outperform” rating and a $40.00 price objective for the company. Zacks Investment Research upgraded shares of The Advisory Board from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Wednesday, July 6th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $45.00 price objective (up from $40.00) on shares of The Advisory Board in a report on Friday, July 15th. Finally, Raymond James Financial Inc. cut shares of The Advisory Board from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 19th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $43.40.
In other news, insider Cormac F. Miller sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $43.04, for a total value of $64,560.00. Following the completion of the transaction, the insider now owns 18,987 shares in the company, valued at $817,200.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert W. Musslewhite sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $43.09, for a total transaction of $236,995.00. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
The Advisory Board Company Profile
The Advisory Board Company is a provider of software and solutions to the healthcare and higher education industries. The Company’s healthcare programs address a range of clinical and business issues, including physician alignment and engagement, network management and growth strategy, value-based care and population health, revenue cycle, clinical operations and supply chain.
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