JPMorgan Chase & Co. cut its stake in Huron Consulting Group Inc. (NASDAQ:HURN – Free Report) by 13.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 77,982 shares of the business services provider’s stock after selling 11,686 shares during the quarter. JPMorgan Chase & Co.’s holdings in Huron Consulting Group were worth $8,477,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP grew its position in Huron Consulting Group by 29.1% during the 3rd quarter. Wellington Management Group LLP now owns 538,290 shares of the business services provider’s stock worth $58,512,000 after acquiring an additional 121,371 shares during the last quarter. William Blair Investment Management LLC bought a new stake in Huron Consulting Group during the 2nd quarter worth approximately $9,533,000. Franklin Resources Inc. grew its position in Huron Consulting Group by 20.5% during the 3rd quarter. Franklin Resources Inc. now owns 395,788 shares of the business services provider’s stock worth $42,306,000 after acquiring an additional 67,239 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in Huron Consulting Group during the 3rd quarter worth approximately $6,336,000. Finally, Victory Capital Management Inc. grew its position in Huron Consulting Group by 435.2% during the 2nd quarter. Victory Capital Management Inc. now owns 64,674 shares of the business services provider’s stock worth $6,370,000 after acquiring an additional 52,589 shares during the last quarter. 93.90% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
HURN has been the topic of a number of research analyst reports. Barrington Research increased their price target on Huron Consulting Group from $137.00 to $142.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Benchmark reiterated a “buy” rating and issued a $140.00 price objective on shares of Huron Consulting Group in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded Huron Consulting Group from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Huron Consulting Group presently has an average rating of “Buy” and a consensus target price of $133.00.
Insider Activity
In related news, Director H Eugene Lockhart sold 1,042 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $122.81, for a total transaction of $127,968.02. Following the sale, the director now owns 26,756 shares of the company’s stock, valued at approximately $3,285,904.36. This trade represents a 3.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James H. Roth sold 2,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $123.69, for a total value of $247,380.00. Following the sale, the director now directly owns 50,534 shares in the company, valued at $6,250,550.46. The trade was a 3.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,584 shares of company stock valued at $1,062,597 in the last 90 days. 2.02% of the stock is owned by company insiders.
Huron Consulting Group Stock Down 0.4 %
Shares of HURN opened at $124.10 on Tuesday. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 26.98 and a beta of 0.60. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.61 and a current ratio of 1.61. The business’s fifty day moving average price is $123.20 and its two-hundred day moving average price is $112.20. Huron Consulting Group Inc. has a 52 week low of $84.26 and a 52 week high of $131.06.
Huron Consulting Group (NASDAQ:HURN – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.11. The company had revenue of $370.00 million for the quarter, compared to the consensus estimate of $377.63 million. Huron Consulting Group had a return on equity of 21.51% and a net margin of 5.80%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.39 EPS. On average, analysts predict that Huron Consulting Group Inc. will post 6.1 earnings per share for the current year.
Huron Consulting Group Company Profile
Huron Consulting Group Inc, a professional services firm, provides consultancy services in the United States and internationally. It operates through three segments: Healthcare, Education, and Commercial. The Healthcare segment provides financial and operational performance improvement consulting services; digital offerings, spanning technology and analytic-related services; software products; organizational transformation services; revenue cycle managed and outsourcing services; financial and capital advisory consulting services; and strategy and innovation consulting services to national and regional health systems, academic and community health systems, federal health system, public, children’s and critical access hospitals, physician practices and medical groups, payors, and long-term care or post-acute providers.
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