Insider Selling: Concentra Group Holdings Parent (NYSE:CON) Director Sells 130,000 Shares of Stock

Concentra Group Holdings Parent, Inc. (NYSE:CON) Director Robert Ortenzio sold 130,000 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $25.00, for a total transaction of $3,250,000.00. Following the transaction, the director directly owned 893,455 shares in the company, valued at $22,336,375. The trade was a 12.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Concentra Group Holdings Parent Stock Up 3.2%

Shares of CON stock traded up $0.78 during trading hours on Monday, hitting $24.94. 1,129,138 shares of the company were exchanged, compared to its average volume of 882,067. The company has a debt-to-equity ratio of 3.62, a quick ratio of 1.26 and a current ratio of 1.26. Concentra Group Holdings Parent, Inc. has a one year low of $18.55 and a one year high of $25.00. The business’s 50-day simple moving average is $22.41 and its two-hundred day simple moving average is $21.37. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 1.22 and a beta of 0.72.

Concentra Group Holdings Parent (NYSE:CON) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.35 by $0.05. Concentra Group Holdings Parent had a net margin of 7.97% and a return on equity of 47.14%. The business had revenue of $569.56 million for the quarter, compared to analysts’ expectations of $553.53 million. During the same quarter last year, the company posted $0.32 earnings per share. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. Sell-side analysts predict that Concentra Group Holdings Parent, Inc. will post 1.49 EPS for the current fiscal year.

Concentra Group Holdings Parent Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $0.25 annualized dividend and a dividend yield of 1.0%. Concentra Group Holdings Parent’s dividend payout ratio (DPR) is presently 17.99%.

Hedge Funds Weigh In On Concentra Group Holdings Parent

A number of large investors have recently bought and sold shares of the business. State Street Corp lifted its holdings in Concentra Group Holdings Parent by 0.5% in the fourth quarter. State Street Corp now owns 4,446,551 shares of the company’s stock worth $87,508,000 after acquiring an additional 22,442 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Concentra Group Holdings Parent by 13.0% in the third quarter. JPMorgan Chase & Co. now owns 3,874,283 shares of the company’s stock worth $81,089,000 after acquiring an additional 445,449 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in Concentra Group Holdings Parent by 41.1% in the third quarter. Thrivent Financial for Lutherans now owns 3,245,778 shares of the company’s stock worth $67,934,000 after acquiring an additional 945,303 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Concentra Group Holdings Parent by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,107,254 shares of the company’s stock valued at $66,645,000 after purchasing an additional 144,379 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Concentra Group Holdings Parent by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,851,717 shares of the company’s stock valued at $56,130,000 after purchasing an additional 19,122 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CON shares. Royal Bank Of Canada increased their price target on shares of Concentra Group Holdings Parent from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Truist Financial reaffirmed a “buy” rating and set a $31.00 price target (up from $29.00) on shares of Concentra Group Holdings Parent in a research report on Monday. Finally, Wells Fargo & Company increased their price target on shares of Concentra Group Holdings Parent from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Concentra Group Holdings Parent presently has a consensus rating of “Moderate Buy” and an average price target of $30.25.

About Concentra Group Holdings Parent

Concentra Group Holdings Parent (NYSE:CON) is a Canada-based financial services holding company that specializes in serving Canadian credit unions and their members. Through its operating subsidiaries, the group provides wholesale funding, lending solutions and investment management services tailored to the unique needs of cooperative financial institutions. Concentra’s broad suite of offerings includes trust and custody services, mortgage investment products and equipment financing, all designed to support credit-union growth and stability.

In addition to wholesale funding and lending, Concentra Group Holdings Parent distributes life and general insurance products through affiliated insurance brokers and credit-union channels.