Connor Clark & Lunn Investment Management Ltd. Makes New $1.62 Million Investment in Addus HomeCare Co. (NASDAQ:ADUS)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Addus HomeCare Co. (NASDAQ:ADUS) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 12,195 shares of the company’s stock, valued at approximately $1,622,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of Addus HomeCare as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Quest Partners LLC increased its holdings in Addus HomeCare by 4,087.0% in the third quarter. Quest Partners LLC now owns 11,263 shares of the company’s stock valued at $1,498,000 after buying an additional 10,994 shares in the last quarter. Natixis Advisors LLC increased its stake in Addus HomeCare by 4.8% in the 3rd quarter. Natixis Advisors LLC now owns 38,561 shares of the company’s stock valued at $5,130,000 after purchasing an additional 1,777 shares in the last quarter. Empowered Funds LLC raised its holdings in Addus HomeCare by 25.1% during the third quarter. Empowered Funds LLC now owns 13,887 shares of the company’s stock worth $1,847,000 after purchasing an additional 2,790 shares during the last quarter. Royce & Associates LP boosted its position in Addus HomeCare by 1.2% during the third quarter. Royce & Associates LP now owns 8,924 shares of the company’s stock worth $1,187,000 after purchasing an additional 109 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Addus HomeCare by 6.1% in the third quarter. Victory Capital Management Inc. now owns 84,960 shares of the company’s stock valued at $11,302,000 after purchasing an additional 4,913 shares during the last quarter. Institutional investors and hedge funds own 95.35% of the company’s stock.

Addus HomeCare Trading Down 1.1 %

NASDAQ ADUS opened at $122.95 on Tuesday. The company has a market capitalization of $2.23 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 2.17 and a beta of 1.04. The business’s 50-day moving average price is $128.25 and its 200 day moving average price is $123.29. Addus HomeCare Co. has a twelve month low of $85.43 and a twelve month high of $136.12.

Addus HomeCare (NASDAQ:ADUS) last released its earnings results on Monday, November 4th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.02. Addus HomeCare had a net margin of 6.50% and a return on equity of 9.62%. The business had revenue of $289.80 million for the quarter, compared to analysts’ expectations of $289.42 million. During the same period last year, the company earned $1.03 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Equities analysts predict that Addus HomeCare Co. will post 4.58 EPS for the current year.

Insider Transactions at Addus HomeCare

In other Addus HomeCare news, Director Esteban Lopez sold 500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $127.50, for a total transaction of $63,750.00. Following the completion of the sale, the director now owns 3,366 shares of the company’s stock, valued at approximately $429,165. The trade was a 12.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Stephens lifted their price target on Addus HomeCare from $143.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. TD Cowen upped their price target on shares of Addus HomeCare from $128.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Royal Bank of Canada reissued an “outperform” rating and set a $136.00 price objective on shares of Addus HomeCare in a research note on Thursday, November 14th. Oppenheimer lifted their price objective on Addus HomeCare from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Finally, KeyCorp initiated coverage on Addus HomeCare in a report on Friday, October 11th. They set an “overweight” rating and a $150.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $131.63.

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.