Cadence Capital Management LLC Takes Position in Addus HomeCare Corporation (ADUS)
Cadence Capital Management LLC purchased a new position in Addus HomeCare Corporation (NASDAQ:ADUS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,996 shares of the company’s stock, valued at approximately $1,265,000. Cadence Capital Management LLC owned approximately 0.30% of Addus HomeCare Corporation at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the company. American International Group Inc. boosted its position in Addus HomeCare Corporation by 7.0% in the first quarter. American International Group Inc. now owns 4,548 shares of the company’s stock worth $146,000 after buying an additional 299 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new position in Addus HomeCare Corporation during the first quarter worth approximately $160,000. ClariVest Asset Management LLC acquired a new position in Addus HomeCare Corporation during the second quarter worth approximately $201,000. Metropolitan Life Insurance Co. NY acquired a new position in Addus HomeCare Corporation during the fourth quarter worth approximately $215,000. Finally, Highbridge Capital Management LLC acquired a new position in Addus HomeCare Corporation during the first quarter worth approximately $238,000. Institutional investors and hedge funds own 94.17% of the company’s stock.
Shares of Addus HomeCare Corporation (NASDAQ ADUS) opened at 32.05 on Friday. The stock’s 50 day moving average price is $35.84 and its 200-day moving average price is $35.22. Addus HomeCare Corporation has a one year low of $22.49 and a one year high of $40.75. The company has a market cap of $367.61 million, a PE ratio of 22.88 and a beta of 0.23.
Addus HomeCare Corporation (NASDAQ:ADUS) last issued its earnings results on Monday, August 7th. The company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. Addus HomeCare Corporation had a net margin of 3.94% and a return on equity of 10.47%. The firm had revenue of $103.60 million during the quarter, compared to analyst estimates of $104.39 million. During the same quarter in the prior year, the business earned $0.31 earnings per share. Addus HomeCare Corporation’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts expect that Addus HomeCare Corporation will post $1.60 EPS for the current year.
ADUS has been the subject of a number of research analyst reports. ValuEngine upgraded Addus HomeCare Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Zacks Investment Research upgraded Addus HomeCare Corporation from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Friday, May 12th. Robert W. Baird reiterated a “hold” rating and set a $40.00 price target on shares of Addus HomeCare Corporation in a report on Thursday. Finally, BidaskClub cut Addus HomeCare Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Addus HomeCare Corporation currently has a consensus rating of “Hold” and a consensus target price of $36.33.
In related news, insider Brenda A. Belger sold 6,250 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $38.58, for a total transaction of $241,125.00. Following the completion of the transaction, the insider now owns 17,331 shares in the company, valued at $668,629.98. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Darby Anderson sold 5,000 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $37.78, for a total transaction of $188,900.00. Following the transaction, the executive vice president now owns 31,604 shares of the company’s stock, valued at approximately $1,193,999.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,939 shares of company stock valued at $456,310. 35.80% of the stock is owned by company insiders.
Addus HomeCare Corporation Company Profile
Addus HomeCare Corporation is a provider of personal care services, which are provided primarily in the home. The Company’s personal care services include assistance with bathing, grooming, oral care, skincare, assistance with feeding and dressing, medication reminders, meal planning and preparation, housekeeping and transportation services and other activities of daily living.
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