269,595 Shares in Target Hospitality Corp. $TH Bought by Nicholas Investment Partners LP

Nicholas Investment Partners LP acquired a new stake in Target Hospitality Corp. (NASDAQ:TH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 269,595 shares of the company’s stock, valued at approximately $5,489,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Quantbot Technologies LP acquired a new position in shares of Target Hospitality during the 2nd quarter worth approximately $27,000. IFP Advisors Inc increased its holdings in Target Hospitality by 88.0% in the 3rd quarter. IFP Advisors Inc now owns 4,002 shares of the company’s stock worth $35,000 after acquiring an additional 1,873 shares in the last quarter. Russell Investments Group Ltd. raised its position in Target Hospitality by 121.5% during the third quarter. Russell Investments Group Ltd. now owns 4,494 shares of the company’s stock worth $38,000 after acquiring an additional 2,465 shares during the period. Galaxy Digital Capital Management GP LLC acquired a new position in Target Hospitality during the first quarter worth $67,000. Finally, Tripletail Wealth Management LLC lifted its holdings in Target Hospitality by 62.2% during the fourth quarter. Tripletail Wealth Management LLC now owns 11,630 shares of the company’s stock valued at $93,000 after purchasing an additional 4,460 shares in the last quarter. 32.40% of the stock is currently owned by hedge funds and other institutional investors.

Target Hospitality Price Performance

Target Hospitality stock opened at $17.83 on Tuesday. Target Hospitality Corp. has a 52-week low of $5.97 and a 52-week high of $20.85. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -46.92 and a beta of 1.50. The company has a fifty day simple moving average of $17.56 and a 200-day simple moving average of $14.36. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.11.

Target Hospitality (NASDAQ:TH) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02. The firm had revenue of $85.45 million for the quarter, compared to the consensus estimate of $79.30 million. Target Hospitality had a negative net margin of 10.85% and a negative return on equity of 9.80%. On average, equities analysts anticipate that Target Hospitality Corp. will post -0.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TH. Northland Securities set a $24.00 target price on shares of Target Hospitality in a research note on Tuesday, August 11th. Weiss Ratings raised shares of Target Hospitality from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday. Morgan Stanley initiated coverage on Target Hospitality in a research note on Monday, August 17th. They set an “overweight” rating and a $22.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised Target Hospitality from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Thursday. Finally, Oppenheimer raised their target price on Target Hospitality from $21.00 to $24.00 and gave the company an “outperform” rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Target Hospitality currently has an average rating of “Moderate Buy” and an average price target of $21.40.

About Target Hospitality

Target Hospitality is a lodging solutions provider specializing in the ownership and operation of modular workforce housing communities across North America. The company serves large-scale clients in the energy, mining, construction and government sectors that require temporary or long-term accommodations for remote workforces. Its housing portfolio includes suite-style units, single-family cabins and “man-camp” dormitories, designed to match project size, duration and workforce composition.

In addition to lodging, Target Hospitality delivers integrated support services such as on-site dining and culinary management, housekeeping, maintenance, facility management and logistics planning.