Connor Clark & Lunn Investment Management Ltd. Raises Holdings in Addus HomeCare Corporation $ADUS

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Addus HomeCare Corporation (NASDAQ:ADUS) by 22.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 26,514 shares of the company’s stock after acquiring an additional 4,916 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Addus HomeCare were worth $3,054,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Addus HomeCare during the first quarter valued at about $41,000. CWM LLC raised its position in shares of Addus HomeCare by 25.3% in the second quarter. CWM LLC now owns 554 shares of the company’s stock valued at $64,000 after purchasing an additional 112 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of Addus HomeCare by 22.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 661 shares of the company’s stock valued at $76,000 after buying an additional 123 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Addus HomeCare by 368.3% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,255 shares of the company’s stock worth $124,000 after buying an additional 987 shares during the period. Finally, Assetmark Inc. grew its stake in Addus HomeCare by 24.5% in the 2nd quarter. Assetmark Inc. now owns 1,286 shares of the company’s stock valued at $148,000 after buying an additional 253 shares in the last quarter. 95.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Barclays increased their target price on Addus HomeCare from $111.00 to $117.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 4th. Stephens reissued an “overweight” rating and set a $140.00 price objective on shares of Addus HomeCare in a report on Wednesday, September 3rd. Royal Bank Of Canada raised their target price on Addus HomeCare from $134.00 to $139.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Cowen reiterated a “buy” rating on shares of Addus HomeCare in a research report on Wednesday, November 5th. Finally, TD Cowen raised their price objective on shares of Addus HomeCare from $139.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Addus HomeCare presently has an average rating of “Moderate Buy” and a consensus price target of $137.11.

Insider Activity at Addus HomeCare

In other Addus HomeCare news, EVP Brian Poff sold 7,739 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $116.82, for a total transaction of $904,069.98. Following the sale, the executive vice president owned 56,980 shares in the company, valued at $6,656,403.60. This trade represents a 11.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO R Dirk Allison sold 25,000 shares of Addus HomeCare stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $114.95, for a total value of $2,873,750.00. Following the sale, the chief executive officer directly owned 166,461 shares of the company’s stock, valued at approximately $19,134,691.95. This trade represents a 13.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,310 shares of company stock valued at $3,958,375 over the last 90 days. 4.50% of the stock is owned by insiders.

Addus HomeCare Stock Down 1.5%

Shares of NASDAQ ADUS opened at $109.07 on Friday. The business has a 50-day moving average of $115.15 and a 200-day moving average of $113.02. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 1.87 and a beta of 0.88. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. Addus HomeCare Corporation has a 12 month low of $88.96 and a 12 month high of $136.72.

Addus HomeCare (NASDAQ:ADUS) last announced its earnings results on Monday, November 3rd. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.03. The business had revenue of $362.30 million during the quarter, compared to analyst estimates of $354.48 million. Addus HomeCare had a net margin of 6.51% and a return on equity of 9.39%. Addus HomeCare’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.30 earnings per share. Sell-side analysts expect that Addus HomeCare Corporation will post 4.59 earnings per share for the current fiscal year.

Addus HomeCare Profile

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.