Renaissance Technologies LLC Increases Position in Target Hospitality Corp. $TH

Renaissance Technologies LLC increased its holdings in Target Hospitality Corp. (NASDAQ:TH) by 4.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 951,302 shares of the company’s stock after acquiring an additional 40,878 shares during the quarter. Renaissance Technologies LLC owned approximately 0.95% of Target Hospitality worth $8,828,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TH. IFP Advisors Inc increased its holdings in Target Hospitality by 88.0% during the 3rd quarter. IFP Advisors Inc now owns 4,002 shares of the company’s stock worth $35,000 after purchasing an additional 1,873 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Target Hospitality by 121.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,494 shares of the company’s stock valued at $38,000 after buying an additional 2,465 shares during the last quarter. FourThought Financial Partners LLC purchased a new position in shares of Target Hospitality during the 3rd quarter valued at approximately $95,000. Tripletail Wealth Management LLC grew its position in shares of Target Hospitality by 62.2% during the fourth quarter. Tripletail Wealth Management LLC now owns 11,630 shares of the company’s stock worth $93,000 after buying an additional 4,460 shares in the last quarter. Finally, AdvisorShares Investments LLC grew its position in shares of Target Hospitality by 17.9% during the fourth quarter. AdvisorShares Investments LLC now owns 11,820 shares of the company’s stock worth $95,000 after buying an additional 1,798 shares in the last quarter. Hedge funds and other institutional investors own 32.40% of the company’s stock.

Target Hospitality Price Performance

Shares of NASDAQ TH opened at $15.20 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -34.55 and a beta of 1.50. Target Hospitality Corp. has a twelve month low of $5.97 and a twelve month high of $20.85. The business has a 50 day simple moving average of $17.76 and a 200-day simple moving average of $13.30.

Target Hospitality (NASDAQ:TH) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The firm had revenue of $72.78 million for the quarter, compared to the consensus estimate of $73.20 million. Target Hospitality had a negative return on equity of 11.11% and a negative net margin of 13.47%. As a group, equities research analysts expect that Target Hospitality Corp. will post -0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TH. Stifel Nicolaus restated a “buy” rating and issued a $15.00 price target (up from $11.00) on shares of Target Hospitality in a research note on Monday, April 6th. Oppenheimer raised their price objective on shares of Target Hospitality from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Target Hospitality in a research report on Monday, June 1st. They issued a “hold” rating and a $22.00 target price for the company. Finally, Weiss Ratings upgraded shares of Target Hospitality from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.33.

About Target Hospitality

Target Hospitality is a lodging solutions provider specializing in the ownership and operation of modular workforce housing communities across North America. The company serves large-scale clients in the energy, mining, construction and government sectors that require temporary or long-term accommodations for remote workforces. Its housing portfolio includes suite-style units, single-family cabins and “man-camp” dormitories, designed to match project size, duration and workforce composition.

In addition to lodging, Target Hospitality delivers integrated support services such as on-site dining and culinary management, housekeeping, maintenance, facility management and logistics planning.