Insider Selling: Concentra Group Holdings Parent (NYSE:CON) Director Sells $3,965,000.00 in Stock

Concentra Group Holdings Parent, Inc. (NYSE:CON) Director Robert Ortenzio sold 130,000 shares of Concentra Group Holdings Parent stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $30.50, for a total transaction of $3,965,000.00. Following the sale, the director owned 633,455 shares in the company, valued at $19,320,377.50. This represents a 17.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Concentra Group Holdings Parent Stock Performance

NYSE CON opened at $31.50 on Thursday. The company has a debt-to-equity ratio of 3.62, a current ratio of 1.26 and a quick ratio of 1.26. Concentra Group Holdings Parent, Inc. has a 1 year low of $18.55 and a 1 year high of $32.35. The company has a market capitalization of $4.03 billion, a PE ratio of 22.66, a P/E/G ratio of 1.44 and a beta of 0.64. The company has a fifty day moving average of $26.80 and a two-hundred day moving average of $23.67.

Concentra Group Holdings Parent (NYSE:CON) last posted its earnings results on Thursday, May 7th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The business had revenue of $569.55 million for the quarter, compared to analysts’ expectations of $553.53 million. Concentra Group Holdings Parent had a return on equity of 47.14% and a net margin of 7.97%.The business’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 earnings per share. As a group, analysts expect that Concentra Group Holdings Parent, Inc. will post 1.52 earnings per share for the current year.

Concentra Group Holdings Parent Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were paid a $0.0625 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.25 dividend on an annualized basis and a yield of 0.8%. Concentra Group Holdings Parent’s payout ratio is currently 17.99%.

Wall Street Analyst Weigh In

CON has been the topic of a number of research reports. Weiss Ratings upgraded shares of Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. The Goldman Sachs Group assumed coverage on shares of Concentra Group Holdings Parent in a research note on Friday, June 5th. They set a “buy” rating and a $30.00 price target for the company. Truist Financial reissued a “buy” rating and set a $31.00 price objective (up from $29.00) on shares of Concentra Group Holdings Parent in a research report on Monday, May 11th. Finally, William Blair started coverage on shares of Concentra Group Holdings Parent in a research note on Wednesday, July 1st. They issued an “outperform” rating on the stock. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.20.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. State Street Corp lifted its holdings in shares of Concentra Group Holdings Parent by 0.5% during the fourth quarter. State Street Corp now owns 4,446,551 shares of the company’s stock worth $87,508,000 after purchasing an additional 22,442 shares during the period. JPMorgan Chase & Co. increased its stake in Concentra Group Holdings Parent by 13.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,874,283 shares of the company’s stock valued at $81,089,000 after buying an additional 445,449 shares during the period. Dimensional Fund Advisors LP raised its position in Concentra Group Holdings Parent by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,107,254 shares of the company’s stock worth $66,645,000 after buying an additional 144,379 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Concentra Group Holdings Parent by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,851,717 shares of the company’s stock worth $56,130,000 after acquiring an additional 19,122 shares during the period. Finally, Woodline Partners LP lifted its stake in shares of Concentra Group Holdings Parent by 142.7% in the 3rd quarter. Woodline Partners LP now owns 2,746,505 shares of the company’s stock worth $57,484,000 after acquiring an additional 1,614,988 shares during the period.

About Concentra Group Holdings Parent

Concentra Group Holdings Parent (NYSE:CON) is a Canada-based financial services holding company that specializes in serving Canadian credit unions and their members. Through its operating subsidiaries, the group provides wholesale funding, lending solutions and investment management services tailored to the unique needs of cooperative financial institutions. Concentra’s broad suite of offerings includes trust and custody services, mortgage investment products and equipment financing, all designed to support credit-union growth and stability.

In addition to wholesale funding and lending, Concentra Group Holdings Parent distributes life and general insurance products through affiliated insurance brokers and credit-union channels.