Seven Eight Capital LP Makes New Investment in The Ensign Group, Inc. (NASDAQ:ENSG)

Seven Eight Capital LP bought a new position in The Ensign Group, Inc. (NASDAQ:ENSG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,345 shares of the company’s stock, valued at approximately $290,000.

A number of other institutional investors also recently modified their holdings of the stock. Hsbc Holdings PLC raised its position in The Ensign Group by 632.6% in the 2nd quarter. Hsbc Holdings PLC now owns 29,486 shares of the company’s stock worth $3,623,000 after purchasing an additional 25,461 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of The Ensign Group by 20.2% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 4,903 shares of the company’s stock valued at $606,000 after buying an additional 825 shares during the period. Wealth Alliance raised its position in shares of The Ensign Group by 6.0% during the second quarter. Wealth Alliance now owns 1,940 shares of the company’s stock worth $240,000 after acquiring an additional 110 shares during the last quarter. Edgestream Partners L.P. lifted its stake in shares of The Ensign Group by 87.2% during the second quarter. Edgestream Partners L.P. now owns 49,223 shares of the company’s stock valued at $6,088,000 after acquiring an additional 22,924 shares during the period. Finally, Renaissance Technologies LLC bought a new position in The Ensign Group in the second quarter valued at about $3,500,000. 96.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ENSG has been the subject of several recent research reports. Truist Financial boosted their price objective on The Ensign Group from $150.00 to $160.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Macquarie assumed coverage on shares of The Ensign Group in a research note on Friday, June 28th. They issued an “outperform” rating and a $134.00 price objective on the stock. Finally, Oppenheimer lifted their target price on shares of The Ensign Group from $155.00 to $165.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $139.50.

Insider Buying and Selling

In other The Ensign Group news, CEO Barry Port sold 5,618 shares of The Ensign Group stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $150.00, for a total value of $842,700.00. Following the transaction, the chief executive officer now owns 53,716 shares of the company’s stock, valued at $8,057,400. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other The Ensign Group news, Director Daren Shaw sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $141.71, for a total value of $283,420.00. Following the sale, the director now owns 29,125 shares in the company, valued at approximately $4,127,303.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Barry Port sold 5,618 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $150.00, for a total value of $842,700.00. Following the transaction, the chief executive officer now directly owns 53,716 shares of the company’s stock, valued at approximately $8,057,400. The disclosure for this sale can be found here. In the last three months, insiders sold 24,736 shares of company stock valued at $3,491,039. 3.90% of the stock is owned by corporate insiders.

The Ensign Group Stock Down 0.9 %

Shares of NASDAQ:ENSG opened at $150.86 on Monday. The company has a 50 day moving average price of $144.52 and a two-hundred day moving average price of $129.29. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.53 and a current ratio of 1.53. The company has a market capitalization of $8.59 billion, a PE ratio of 39.70, a PEG ratio of 2.01 and a beta of 0.96. The Ensign Group, Inc. has a 52 week low of $90.00 and a 52 week high of $154.93.

The Ensign Group (NASDAQ:ENSG) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.30 by $0.02. The Ensign Group had a return on equity of 17.32% and a net margin of 5.68%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the business posted $1.08 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year. Analysts forecast that The Ensign Group, Inc. will post 4.99 earnings per share for the current year.

The Ensign Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.06 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.24 annualized dividend and a dividend yield of 0.16%. The Ensign Group’s dividend payout ratio is presently 6.32%.

The Ensign Group Company Profile

The Ensign Group, Inc provides skilled nursing, senior living, and rehabilitative services. It operates through two segments: Skilled Services and Standard Bearer. The company's Skilled Services segment engages in the operation of skilled nursing facilities and rehabilitation therapy services for patients with chronic conditions, prolonged illness, and the elderly; and offers nursing facilities including specialty care, such as on-site dialysis, ventilator care, cardiac, and pulmonary management, as well as standard services comprising room and board, special nutritional programs, social services, recreational activities, entertainment, and other services.