The Manufacturers Life Insurance Company Acquires 1,540 Shares of Target Hospitality Corp. (NASDAQ:TH)

The Manufacturers Life Insurance Company lifted its holdings in shares of Target Hospitality Corp. (NASDAQ:TH) by 11.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,480 shares of the company’s stock after purchasing an additional 1,540 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Target Hospitality were worth $126,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of TH. Atlas Merchant Capital LLC bought a new stake in Target Hospitality in the 2nd quarter valued at $1,306,000. DRW Securities LLC bought a new position in shares of Target Hospitality during the second quarter worth about $1,456,000. Gabelli Funds LLC raised its position in Target Hospitality by 207.0% in the 2nd quarter. Gabelli Funds LLC now owns 46,049 shares of the company’s stock valued at $401,000 after buying an additional 31,049 shares during the last quarter. Denali Advisors LLC lifted its stake in Target Hospitality by 856.2% in the 2nd quarter. Denali Advisors LLC now owns 185,500 shares of the company’s stock valued at $1,616,000 after acquiring an additional 166,100 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Target Hospitality by 6.1% during the 2nd quarter. Renaissance Technologies LLC now owns 741,036 shares of the company’s stock worth $6,454,000 after acquiring an additional 42,800 shares during the last quarter. 32.40% of the stock is currently owned by institutional investors and hedge funds.

Target Hospitality Price Performance

Target Hospitality stock opened at $7.48 on Friday. The company has a market cap of $750.07 million, a price-to-earnings ratio of 5.50, a P/E/G ratio of 0.83 and a beta of 2.08. The firm has a 50-day moving average of $9.01 and a 200-day moving average of $9.64. Target Hospitality Corp. has a one year low of $6.11 and a one year high of $16.02.

Target Hospitality (NASDAQ:TH) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. Target Hospitality had a return on equity of 30.89% and a net margin of 23.97%. The company had revenue of $100.72 million during the quarter, compared to the consensus estimate of $101.25 million. During the same quarter in the prior year, the firm posted $0.44 EPS. The firm’s revenue for the quarter was down 29.9% compared to the same quarter last year. As a group, sell-side analysts expect 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.