Target Hospitality Corp. (NASDAQ:TH) Stock Position Reduced by Coastal Bridge Advisors LLC

Coastal Bridge Advisors LLC reduced its stake in Target Hospitality Corp. (NASDAQ:TH - Free Report) by 27.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 723,192 shares of the company's stock after selling 276,808 shares during the period. Target Hospitality accounts for approximately 1.6% of Coastal Bridge Advisors LLC's holdings, making the stock its 15th biggest position. Coastal Bridge Advisors LLC owned approximately 0.72% of Target Hospitality worth $6,299,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in TH. Tyro Capital Management LLC bought a new stake in shares of Target Hospitality in the 4th quarter worth approximately $11,284,000. Denali Advisors LLC raised its holdings in shares of Target Hospitality by 856.2% in the 2nd quarter. Denali Advisors LLC now owns 185,500 shares of the company's stock worth $1,616,000 after purchasing an additional 166,100 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Target Hospitality by 39.7% in the 2nd quarter. American Century Companies Inc. now owns 397,324 shares of the company's stock worth $3,461,000 after purchasing an additional 112,833 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Target Hospitality by 10.1% in the 1st quarter. BNP Paribas Financial Markets now owns 45,231 shares of the company's stock worth $492,000 after purchasing an additional 4,161 shares in the last quarter. Finally, Bleakley Financial Group LLC bought a new stake in shares of Target Hospitality in the 1st quarter worth approximately $122,000. 32.40% of the stock is owned by institutional investors and hedge funds.

Target Hospitality Stock Performance

Shares of NASDAQ TH remained flat at $7.42 during midday trading on Friday. 621,885 shares of the company were exchanged, compared to its average volume of 549,457. The stock has a 50 day moving average price of $9.51 and a 200 day moving average price of $9.87. Target Hospitality Corp. has a twelve month low of $6.11 and a twelve month high of $16.73. The stock has a market capitalization of $744.06 million, a P/E ratio of 5.46, a price-to-earnings-growth ratio of 1.03 and a beta of 2.09.

Target Hospitality (NASDAQ:TH - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.01. Target Hospitality had a net margin of 23.97% and a return on equity of 30.89%. The business had revenue of $100.72 million for the quarter, compared to analyst estimates of $101.25 million. During the same quarter in the previous year, the business earned $0.44 earnings per share. The firm's revenue was down 29.9% compared to the same quarter last year. Research analysts anticipate that Target Hospitality Corp. will post 0.62 EPS 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.