Fred Alger Management LLC Makes New $689,000 Investment in Concentra Group Holdings Parent, Inc. (NYSE:CON)

Fred Alger Management LLC acquired a new position in shares of Concentra Group Holdings Parent, Inc. (NYSE:CON - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 30,808 shares of the company's stock, valued at approximately $689,000.

Other hedge funds have also modified their holdings of the company. Verition Fund Management LLC acquired a new stake in shares of Concentra Group Holdings Parent in the 3rd quarter valued at $661,000. Public Sector Pension Investment Board acquired a new stake in Concentra Group Holdings Parent in the third quarter valued at $7,788,000. MetLife Investment Management LLC purchased a new stake in Concentra Group Holdings Parent during the 3rd quarter worth about $297,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Concentra Group Holdings Parent during the 3rd quarter worth about $23,478,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Concentra Group Holdings Parent during the 3rd quarter worth about $105,000.

Concentra Group Holdings Parent Trading Down 1.3 %

NYSE CON traded down $0.29 during trading hours on Monday, hitting $21.53. 2,431,527 shares of the stock were exchanged, compared to its average volume of 642,240. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 5.20. Concentra Group Holdings Parent, Inc. has a 12-month low of $18.89 and a 12-month high of $24.81. The stock has a 50-day moving average of $21.06.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.01. The business had revenue of $489.64 million for the quarter, compared to analysts' expectations of $492.61 million. Concentra Group Holdings Parent's revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts expect that Concentra Group Holdings Parent, Inc. will post 1.45 EPS for the current year.

Concentra Group Holdings Parent Dividend Announcement

The business also recently declared an annual dividend, which was paid on Friday, November 22nd. Stockholders of record on Wednesday, November 13th were paid a dividend of $0.0625 per share. The ex-dividend date was Wednesday, November 13th.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CON shares. Truist Financial began coverage on shares of Concentra Group Holdings Parent in a research report on Monday, August 19th. They set a "buy" rating and a $29.00 price objective for the company. The Goldman Sachs Group initiated coverage on Concentra Group Holdings Parent in a report on Monday, August 19th. They set a "buy" rating and a $32.00 price objective on the stock. JPMorgan Chase & Co. began coverage on Concentra Group Holdings Parent in a research report on Monday, August 19th. They issued an "overweight" rating and a $29.00 target price for the company. Bank of America lowered Concentra Group Holdings Parent from a "buy" rating to a "neutral" rating and cut their price target for the stock from $30.50 to $24.00 in a research report on Monday, October 7th. Finally, Royal Bank of Canada cut their target price on shares of Concentra Group Holdings Parent from $33.00 to $30.00 and set an "outperform" rating on the stock in a report on Monday, November 4th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $28.50.

Concentra Group Holdings Parent Company Profile

Concentra Group Holdings Parent, Inc provides occupational health services in the United States. The company offers occupational and consumer health services, including workers' compensation injury care, urgent care, clinical testing, preventative care, and employer services, as well as wellness programs through occupational health centers and onsite clinics.