Empyrean Capital Partners LP Invests $9.78 Million in Target Hospitality Corp. (NASDAQ:TH)

Empyrean Capital Partners LP bought a new stake in shares of Target Hospitality Corp. (NASDAQ:TH) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 1,012,000 shares of the company’s stock, valued at approximately $9,781,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in shares of Target Hospitality by 16.3% during the 4th quarter. SG Americas Securities LLC now owns 16,110 shares of the company’s stock worth $156,000 after purchasing an additional 2,262 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Target Hospitality by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 277,557 shares of the company’s stock worth $2,683,000 after buying an additional 5,967 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Target Hospitality by 18.4% in the fourth quarter. Victory Capital Management Inc. now owns 44,389 shares of the company’s stock valued at $429,000 after acquiring an additional 6,885 shares during the last quarter. AlphaQuest LLC boosted its holdings in shares of Target Hospitality by 275.9% in the 4th quarter. AlphaQuest LLC now owns 4,578 shares of the company’s stock worth $44,000 after acquiring an additional 3,360 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Target Hospitality during the 4th quarter worth approximately $401,000. Institutional investors own 32.40% of the company’s stock.

Target Hospitality Price Performance

Shares of NASDAQ:TH opened at $6.97 on Friday. The stock has a market cap of $692.27 million, a price-to-earnings ratio of 8.01, a P/E/G ratio of 1.81 and a beta of 1.89. The company has a 50 day moving average of $6.40 and a 200-day moving average of $8.00. Target Hospitality Corp. has a one year low of $4.00 and a one year high of $11.84.

Target Hospitality (NASDAQ:TH) last released its earnings results on Wednesday, March 26th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The firm had revenue of $83.70 million during the quarter, compared to analyst estimates of $80.10 million. Target Hospitality had a net margin of 20.84% and a return on equity of 22.80%. The business’s quarterly revenue was down 33.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 EPS. Equities research analysts anticipate that Target Hospitality Corp. will post 0.65 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on TH. Northland Securities raised shares of Target Hospitality from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $11.00 to $15.00 in a research note on Wednesday, January 29th. Northland Capmk upgraded shares of Target Hospitality from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus increased their price objective on Target Hospitality from $5.00 to $7.50 and gave the company a “hold” rating in a research report on Monday, March 31st.

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.