Connor Clark & Lunn Investment Management Ltd. Buys New Holdings in Target Hospitality Corp. $TH

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Target Hospitality Corp. (NASDAQ:TH) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 131,458 shares of the company’s stock, valued at approximately $2,676,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.13% of Target Hospitality at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of TH. Quantbot Technologies LP purchased a new stake in shares of Target Hospitality during the second quarter valued at approximately $27,000. IFP Advisors Inc grew its holdings in shares of Target Hospitality by 88.0% in the third quarter. IFP Advisors Inc now owns 4,002 shares of the company’s stock worth $35,000 after purchasing an additional 1,873 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Target Hospitality by 121.5% in the third quarter. Russell Investments Group Ltd. now owns 4,494 shares of the company’s stock worth $38,000 after buying an additional 2,465 shares during the period. Galaxy Digital Capital Management GP LLC purchased a new position in shares of Target Hospitality in the first quarter worth $67,000. Finally, Tripletail Wealth Management LLC raised its holdings in Target Hospitality by 62.2% during the 4th quarter. Tripletail Wealth Management LLC now owns 11,630 shares of the company’s stock valued at $93,000 after buying an additional 4,460 shares during the last quarter. 32.40% of the stock is owned by hedge funds and other institutional investors.

Target Hospitality Stock Performance

Shares of TH stock opened at $18.55 on Friday. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -48.82 and a beta of 1.49. The stock has a fifty day moving average of $17.42 and a 200 day moving average of $14.61. Target Hospitality Corp. has a 52 week low of $5.97 and a 52 week high of $20.85. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.11.

Target Hospitality (NASDAQ:TH) last announced its earnings results on Monday, August 10th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. Target Hospitality had a negative net margin of 10.85% and a negative return on equity of 9.80%. The firm had revenue of $85.45 million for the quarter, compared to analyst estimates of $79.30 million. As a group, research analysts expect that Target Hospitality Corp. will post -0.2 earnings per share for the current year.

Analysts Set New Price Targets

TH has been the subject of several analyst reports. Stifel Nicolaus set a $26.00 price target on shares of Target Hospitality in a research report on Thursday. Northland Securities set a $25.00 price objective on shares of Target Hospitality in a research note on Thursday. Weiss Ratings upgraded shares of Target Hospitality from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $23.00 target price on shares of Target Hospitality in a research note on Thursday. Finally, Morgan Stanley began coverage on Target Hospitality in a report on Monday, August 17th. They set an “overweight” rating and a $22.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Target Hospitality Profile

Target Hospitality is a lodging solutions provider specializing in the ownership and operation of modular workforce housing communities across North America. The company serves large-scale clients in the energy, mining, construction and government sectors that require temporary or long-term accommodations for remote workforces. Its housing portfolio includes suite-style units, single-family cabins and “man-camp” dormitories, designed to match project size, duration and workforce composition.

In addition to lodging, Target Hospitality delivers integrated support services such as on-site dining and culinary management, housekeeping, maintenance, facility management and logistics planning.