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

Concentra Group Holdings Parent, Inc. (NYSE:CON) Director Robert Ortenzio sold 130,000 shares of Concentra Group Holdings Parent stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $31.84, for a total transaction of $4,139,200.00. Following the transaction, the director directly owned 503,455 shares of the company’s stock, valued at $16,030,007.20. This represents a 20.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Concentra Group Holdings Parent Stock Performance

Shares of CON opened at $30.64 on Thursday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.62. The stock has a market capitalization of $3.92 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 1.42 and a beta of 0.62. The firm’s fifty day simple moving average is $29.52 and its two-hundred day simple moving average is $25.29. Concentra Group Holdings Parent, Inc. has a 12 month low of $18.55 and a 12 month high of $32.86.

Concentra Group Holdings Parent (NYSE:CON) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. Concentra Group Holdings Parent had a return on equity of 47.14% and a net margin of 7.97%.The firm had revenue of $569.55 million during the quarter, compared to the consensus estimate of $553.53 million. During the same period last year, the business posted $0.32 EPS. The business’s revenue was up 13.7% compared to the same quarter last year. As a group, analysts predict that Concentra Group Holdings Parent, Inc. will post 1.52 EPS for the current year.

Institutional Trading of Concentra Group Holdings Parent

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Concentra Group Holdings Parent in the 4th quarter worth $43,404,000. Woodline Partners LP increased its stake in Concentra Group Holdings Parent by 142.7% during the 3rd quarter. Woodline Partners LP now owns 2,746,505 shares of the company’s stock valued at $57,484,000 after purchasing an additional 1,614,988 shares in the last quarter. Jennison Associates LLC increased its stake in Concentra Group Holdings Parent by 195.8% during the 1st quarter. Jennison Associates LLC now owns 2,172,291 shares of the company’s stock valued at $46,596,000 after purchasing an additional 1,437,912 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Concentra Group Holdings Parent by 38.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,577,610 shares of the company’s stock worth $31,047,000 after buying an additional 436,212 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Concentra Group Holdings Parent by 48.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,329,498 shares of the company’s stock worth $28,850,000 after buying an additional 434,503 shares during the last quarter.

Analyst Ratings Changes

Several research firms recently commented on CON. Weiss Ratings raised Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. The Goldman Sachs Group assumed coverage on Concentra Group Holdings Parent in a research note on Friday, June 5th. They issued a “buy” rating and a $30.00 price target on the stock. William Blair started coverage on Concentra Group Holdings Parent in a report on Wednesday, July 1st. They set an “outperform” rating on the stock. Finally, Truist Financial raised their price objective on shares of Concentra Group Holdings Parent from $31.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.40.

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.