Exchange Traded Concepts LLC Reduces Stock Holdings in Target Hospitality Corp. (NASDAQ:TH)

Exchange Traded Concepts LLC reduced its stake in Target Hospitality Corp. (NASDAQ:TH) by 30.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,445 shares of the company’s stock after selling 13,966 shares during the period. Exchange Traded Concepts LLC’s holdings in Target Hospitality were worth $245,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd grew its position in shares of Target Hospitality by 13.9% during the first quarter. Covestor Ltd now owns 8,925 shares of the company’s stock worth $97,000 after acquiring an additional 1,092 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Target Hospitality during the third quarter worth approximately $108,000. Quest Partners LLC grew its position in shares of Target Hospitality by 4,201.9% during the second quarter. Quest Partners LLC now owns 13,508 shares of the company’s stock worth $118,000 after acquiring an additional 13,194 shares during the last quarter. Bleakley Financial Group LLC purchased a new position in shares of Target Hospitality during the first quarter worth approximately $122,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Target Hospitality by 11.9% during the second quarter. The Manufacturers Life Insurance Company now owns 14,480 shares of the company’s stock worth $126,000 after acquiring an additional 1,540 shares during the last quarter. 32.40% of the stock is currently owned by hedge funds and other institutional investors.

Target Hospitality Trading Down 1.4 %

Shares of TH opened at $7.48 on Monday. The firm has a market cap of $750.07 million, a PE ratio of 5.50, a price-to-earnings-growth ratio of 0.83 and a beta of 2.08. The company’s 50 day simple moving average is $9.01 and its 200-day simple moving average is $9.64. Target Hospitality Corp. has a 12-month low of $6.11 and a 12-month high of $16.02.

Target Hospitality (NASDAQ:TH) last announced its earnings results on Wednesday, August 7th. The company reported $0.18 earnings per share (EPS) for the quarter, topping 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 period last year, the firm posted $0.44 earnings per share. The company’s revenue for the quarter was down 29.9% compared to the same quarter last year. As a group, equities research analysts forecast that Target Hospitality Corp. will post 0.62 EPS for the current fiscal year.

About Target Hospitality

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.