Pier Capital LLC Makes New Investment in Addus HomeCare Co. (NASDAQ:ADUS)

Pier Capital LLC purchased a new stake in shares of Addus HomeCare Co. (NASDAQ:ADUS) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 67,061 shares of the company’s stock, valued at approximately $8,406,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Quarry LP purchased a new stake in shares of Addus HomeCare during the third quarter valued at $28,000. Smartleaf Asset Management LLC increased its holdings in shares of Addus HomeCare by 324.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock valued at $35,000 after purchasing an additional 214 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Addus HomeCare by 38.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 531 shares of the company’s stock worth $67,000 after purchasing an additional 148 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Addus HomeCare in the fourth quarter worth about $86,000. Finally, KBC Group NV raised its stake in shares of Addus HomeCare by 49.1% in the fourth quarter. KBC Group NV now owns 814 shares of the company’s stock worth $102,000 after purchasing an additional 268 shares during the last quarter. Hedge funds and other institutional investors own 95.35% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Oppenheimer increased their price target on shares of Addus HomeCare from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. StockNews.com lowered shares of Addus HomeCare from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Citizens Jmp upgraded shares of Addus HomeCare to a “strong-buy” rating in a research report on Monday, December 16th. Macquarie reaffirmed an “outperform” rating and set a $129.00 price target on shares of Addus HomeCare in a research report on Thursday, February 27th. Finally, Stephens reissued an “overweight” rating and issued a $142.00 price objective on shares of Addus HomeCare in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Addus HomeCare currently has an average rating of “Moderate Buy” and a consensus price target of $132.78.

Insider Activity

In related news, CEO R Dirk Allison sold 25,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $124.76, for a total value of $3,119,000.00. Following the transaction, the chief executive officer now directly owns 79,397 shares of the company’s stock, valued at approximately $9,905,569.72. This trade represents a 23.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.60% of the company’s stock.

Addus HomeCare Stock Up 1.3 %

NASDAQ:ADUS opened at $90.98 on Tuesday. Addus HomeCare Co. has a 52 week low of $87.88 and a 52 week high of $136.72. The stock’s 50-day moving average price is $111.13 and its 200-day moving average price is $121.48. The stock has a market capitalization of $1.65 billion, a PE ratio of 20.82, a price-to-earnings-growth ratio of 1.41 and a beta of 0.97.

Addus HomeCare (NASDAQ:ADUS) last announced its earnings results on Monday, February 24th. The company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.09). The business had revenue of $297.14 million for the quarter, compared to analysts’ expectations of $291.04 million. Addus HomeCare had a net margin of 6.50% and a return on equity of 9.62%. Sell-side analysts expect that Addus HomeCare Co. will post 4.59 earnings per share for the current fiscal year.

About Addus HomeCare

Addus HomeCare Corporation, together with its subsidiaries, provides personal care services to elderly, chronically ill, disabled persons, and individuals who are at risk of hospitalization or institutionalization in the United States. The company operates through three segments: Personal Care, Hospice, and Home Health.