Renaissance Technologies LLC Acquires New Stake in On Assignment, Inc. (ASGN)
Renaissance Technologies LLC acquired a new stake in shares of On Assignment, Inc. (NASDAQ:ASGN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,794 shares of the company’s stock, valued at approximately $669,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tyers Asset Management LLC increased its position in On Assignment by 13.0% in the first quarter. Tyers Asset Management LLC now owns 2,436 shares of the company’s stock valued at $118,000 after buying an additional 280 shares during the period. Flinton Capital Management LLC increased its position in On Assignment by 13.0% in the first quarter. Flinton Capital Management LLC now owns 2,958 shares of the company’s stock valued at $144,000 after buying an additional 340 shares during the period. Quantbot Technologies LP bought a new position in On Assignment during the first quarter valued at approximately $154,000. Genesee Valley Trust Co. bought a new position in On Assignment during the first quarter valued at approximately $208,000. Finally, Ameritas Investment Partners Inc. bought a new position in On Assignment during the first quarter valued at approximately $213,000.
Shares of On Assignment, Inc. (ASGN) traded up 1.26% during mid-day trading on Wednesday, hitting $46.49. 139,380 shares of the stock traded hands. The firm has a 50 day moving average of $49.97 and a 200 day moving average of $49.94. On Assignment, Inc. has a 12 month low of $32.04 and a 12 month high of $55.53. The company has a market cap of $2.45 billion and a P/E ratio of 22.82.
On Assignment (NASDAQ:ASGN) last posted its earnings results on Wednesday, July 26th. The company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. On Assignment had a net margin of 5.09% and a return on equity of 14.70%. The firm had revenue of $653.31 million during the quarter, compared to the consensus estimate of $655.96 million. During the same period last year, the firm posted $0.68 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities analysts anticipate that On Assignment, Inc. will post $2.86 EPS for the current fiscal year.
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Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of On Assignment from a “hold” rating to a “sell” rating in a report on Friday, July 28th. BMO Capital Markets increased their price objective on shares of On Assignment from $54.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $56.20.
In other On Assignment news, Director Jeremy M. Jones sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $54.46, for a total transaction of $1,089,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan S. Holman sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $54.29, for a total transaction of $108,580.00. Following the sale, the director now directly owns 22,122 shares in the company, valued at $1,201,003.38. The disclosure for this sale can be found here. Insiders have sold a total of 52,250 shares of company stock valued at $2,834,985 over the last 90 days.
About On Assignment
On Assignment, Inc is a global provider of in-demand, skilled professionals in the technology, life sciences and creative sectors. The Company matches resumes with job descriptions to match people they know into positions they understand for temporary, contract-to-hire, and direct hire assignments. It operates through two segments.
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