The Advisory Board Company (ABCO) Position Lowered by Paloma Partners Management Co
Paloma Partners Management Co decreased its position in shares of The Advisory Board Company (NASDAQ:ABCO) by 55.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,477 shares of the business services provider’s stock after selling 5,590 shares during the period. Paloma Partners Management Co’s holdings in The Advisory Board were worth $210,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. bought a new position in shares of The Advisory Board during the first quarter worth about $109,000. Howard Hughes Medical Institute purchased a new stake in The Advisory Board during the first quarter worth $158,000. Asset Management One Co. Ltd. purchased a new stake in The Advisory Board during the first quarter worth $159,000. Ameritas Investment Partners Inc. purchased a new stake in The Advisory Board during the first quarter worth $166,000. Finally, Highbridge Capital Management LLC purchased a new stake in The Advisory Board during the fourth quarter worth $217,000.
The Advisory Board Company (ABCO) traded up 1.08% during midday trading on Friday, reaching $51.60. 392,722 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $54.58 and its 200-day moving average is $49.96. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 19.60 and a beta of 1.33. The Advisory Board Company has a 12-month low of $24.85 and a 12-month high of $59.50.
The Advisory Board (NASDAQ:ABCO) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.08. The firm had revenue of $200.30 million for the quarter, compared to analyst estimates of $196.16 million. The Advisory Board had a net margin of 13.65% and a return on equity of 12.69%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 EPS. On average, equities analysts forecast that The Advisory Board Company will post $1.89 earnings per share for the current year.
A number of analysts have recently weighed in on the stock. Robert W. Baird reiterated an “outperform” rating and set a $65.00 target price (up from $57.00) on shares of The Advisory Board in a report on Sunday, July 9th. Zacks Investment Research lowered shares of The Advisory Board from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 25th. BidaskClub lowered shares of The Advisory Board from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $56.00 price objective (up from $53.00) on shares of The Advisory Board in a report on Thursday, August 10th. Finally, Credit Suisse Group raised their price objective on shares of The Advisory Board from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, May 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. The Advisory Board has an average rating of “Hold” and a consensus target price of $51.42.
The Advisory Board Company Profile
The Advisory Board Company is a provider of software and solutions to the healthcare and higher education industries. The Company offers subscription-based membership programs, software and data-enabled services. All of its programs are rooted in best practices and extends across four areas, including Best practices research, Technology, Data-enabled services and Consulting services.
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