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 company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $30.50, for a total transaction of $3,965,000.00. Following the completion of the transaction, the director directly owned 633,455 shares in the company, valued at $19,320,377.50. This trade represents a 17.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Concentra Group Holdings Parent Stock Down 0.2%

Shares of NYSE:CON traded down $0.08 on Monday, reaching $31.83. The company had a trading volume of 1,036,412 shares, compared to its average volume of 912,966. Concentra Group Holdings Parent, Inc. has a twelve month low of $18.55 and a twelve month high of $32.35. The stock has a market capitalization of $4.07 billion, a P/E ratio of 22.90, a P/E/G ratio of 1.45 and a beta of 0.64. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.62. The stock has a 50-day moving average price of $26.27 and a 200 day moving average price of $23.42.

Concentra Group Holdings Parent (NYSE:CON) last announced its earnings results on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 $569.55 million for the quarter, compared to analyst estimates of $553.53 million. During the same quarter in the previous year, the firm posted $0.32 earnings per share. Concentra Group Holdings Parent’s revenue was up 13.7% compared to the same quarter last year. On average, equities analysts expect that Concentra Group Holdings Parent, Inc. will post 1.52 EPS for the current year.

Concentra Group Holdings Parent Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th were paid a $0.0625 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.8%. Concentra Group Holdings Parent’s payout ratio is 17.99%.

Institutional Trading of Concentra Group Holdings Parent

A number of hedge funds have recently added to or reduced their stakes in CON. Segall Bryant & Hamill LLC purchased a new stake in shares of Concentra Group Holdings Parent in the first quarter valued at about $1,811,000. Argent Capital Management LLC raised its position in Concentra Group Holdings Parent by 42.0% in the first quarter. Argent Capital Management LLC now owns 47,898 shares of the company’s stock worth $1,027,000 after acquiring an additional 14,173 shares during the period. Janus Henderson Group PLC grew its position in shares of Concentra Group Holdings Parent by 722.9% during the 1st quarter. Janus Henderson Group PLC now owns 419,772 shares of the company’s stock valued at $9,003,000 after acquiring an additional 368,761 shares during the period. California State Teachers Retirement System lifted its stake in Concentra Group Holdings Parent by 25.7% in the first quarter. California State Teachers Retirement System now owns 139,546 shares of the company’s stock valued at $2,993,000 after purchasing an additional 28,516 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Concentra Group Holdings Parent by 1.4% in the first quarter. Royal Bank of Canada now owns 213,965 shares of the company’s stock valued at $4,590,000 after buying an additional 3,058 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CON shares. Weiss Ratings upgraded shares of Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. William Blair assumed coverage on shares of Concentra Group Holdings Parent in a report on Wednesday, July 1st. They issued an “outperform” rating for the company. Truist Financial restated a “buy” rating and issued a $31.00 target price (up from $29.00) on shares of Concentra Group Holdings Parent in a research note on Monday, May 11th. Finally, The Goldman Sachs Group started coverage on Concentra Group Holdings Parent in a research report on Friday, June 5th. They issued a “buy” rating and a $30.00 target price on the stock. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.20.

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.