Envestnet Asset Management Inc. Raises Stock Holdings in Addus HomeCare Corporation $ADUS

Envestnet Asset Management Inc. lifted its holdings in shares of Addus HomeCare Corporation (NASDAQ:ADUS) by 44.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,111 shares of the company’s stock after acquiring an additional 19,376 shares during the period. Envestnet Asset Management Inc.’s holdings in Addus HomeCare were worth $7,270,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ADUS. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Addus HomeCare during the 1st quarter worth $41,000. CWM LLC increased its stake in Addus HomeCare by 25.3% in the second quarter. CWM LLC now owns 554 shares of the company’s stock valued at $64,000 after purchasing an additional 112 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in shares of Addus HomeCare by 368.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,255 shares of the company’s stock valued at $124,000 after buying an additional 987 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Addus HomeCare by 26.4% during the second quarter. GAMMA Investing LLC now owns 1,673 shares of the company’s stock worth $193,000 after buying an additional 349 shares during the period. Finally, Stephens Inc. AR purchased a new position in shares of Addus HomeCare during the second quarter worth about $207,000. 95.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on ADUS shares. Stephens reaffirmed an “overweight” rating and set a $140.00 price objective on shares of Addus HomeCare in a research note on Wednesday, September 3rd. Cowen reissued a “buy” rating on shares of Addus HomeCare in a report on Wednesday, November 5th. Royal Bank Of Canada increased their price target on Addus HomeCare from $134.00 to $139.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Addus HomeCare in a research note on Wednesday, October 8th. Finally, TD Cowen upped their price objective on shares of Addus HomeCare from $139.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Addus HomeCare currently has an average rating of “Moderate Buy” and an average price target of $139.25.

Addus HomeCare Price Performance

Shares of NASDAQ ADUS opened at $114.51 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 1.74. Addus HomeCare Corporation has a one year low of $88.96 and a one year high of $136.72. The firm has a market capitalization of $2.12 billion, a P/E ratio of 25.28, a PEG ratio of 1.87 and a beta of 0.88. The company’s fifty day moving average is $115.24 and its two-hundred day moving average is $112.97.

Addus HomeCare (NASDAQ:ADUS) last announced its quarterly earnings results on Monday, November 3rd. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.03. The business had revenue of $362.30 million during the quarter, compared to the consensus estimate of $354.48 million. Addus HomeCare had a net margin of 6.51% and a return on equity of 9.39%. The business’s revenue was up 25.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.30 EPS. Analysts forecast that Addus HomeCare Corporation will post 4.59 EPS for the current fiscal year.

Insider Activity

In other news, Director Veronica Hill-Milbourne sold 1,571 shares of Addus HomeCare stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $114.93, for a total transaction of $180,555.03. Following the completion of the sale, the director directly owned 5,067 shares in the company, valued at approximately $582,350.31. This trade represents a 23.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian Poff sold 7,739 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $116.82, for a total value of $904,069.98. Following the completion of the sale, the executive vice president owned 56,980 shares in the company, valued at approximately $6,656,403.60. This represents a 11.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 34,310 shares of company stock worth $3,958,375. Company insiders own 4.50% of the company’s stock.

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.