Yarra Square Partners LP Trims Position in Target Hospitality Corp. (NASDAQ:TH)

Yarra Square Partners LP reduced its holdings in Target Hospitality Corp. (NASDAQ:TH) by 11.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 391,208 shares of the company’s stock after selling 53,000 shares during the period. Target Hospitality comprises 3.7% of Yarra Square Partners LP’s holdings, making the stock its 15th biggest position. Yarra Square Partners LP’s holdings in Target Hospitality were worth $4,252,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. GSA Capital Partners LLP acquired a new stake in Target Hospitality during the third quarter worth about $789,000. Vanguard Group Inc. boosted its position in Target Hospitality by 44.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,689,440 shares of the company’s stock worth $26,828,000 after purchasing an additional 523,398 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Target Hospitality during the 4th quarter worth approximately $422,000. Nordea Investment Management AB increased its holdings in shares of Target Hospitality by 31.5% during the 4th quarter. Nordea Investment Management AB now owns 235,623 shares of the company’s stock valued at $2,311,000 after purchasing an additional 56,471 shares in the last quarter. Finally, Denali Advisors LLC acquired a new position in shares of Target Hospitality in the 4th quarter valued at $91,000. Institutional investors and hedge funds own 32.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Stifel Nicolaus reiterated a “hold” rating and issued a $12.00 price objective (down previously from $13.00) on shares of Target Hospitality in a research report on Friday, April 12th. Oppenheimer reduced their price target on Target Hospitality from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Monday, March 25th.

Target Hospitality Price Performance

NASDAQ TH traded up $0.04 on Friday, hitting $8.97. The company had a trading volume of 465,868 shares, compared to its average volume of 601,024. The company has a market capitalization of $899.51 million, a PE ratio of 6.60, a PEG ratio of 0.93 and a beta of 2.14. The company’s fifty day moving average price is $9.82 and its 200-day moving average price is $9.83. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.78 and a quick ratio of 2.78. Target Hospitality Corp. has a 12-month low of $6.11 and a 12-month high of $16.73.

Target Hospitality (NASDAQ:TH) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.05. The company had revenue of $106.70 million for the quarter, compared to analysts’ expectations of $101.97 million. Target Hospitality had a return on equity of 41.41% and a net margin of 27.37%. Target Hospitality’s revenue was down 27.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. As a group, analysts predict that Target Hospitality Corp. will post 0.62 earnings per share for the current year.

Target Hospitality Profile

Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America. The company operates through two segments, Hospitality & Facilities Services – South and Government. It owns a network of specialty rental accommodation units. In addition, the company provides catering and food, maintenance, housekeeping, grounds-keeping, security, health and recreation facilities, workforce community management, concierge, and laundry services.