On June 6, 2023, Credit Suisse AG disclosed that it had cut its stake in shares of Huron Consulting Group Inc. (NASDAQ:HURN) by 5.9% in the fourth quarter. The firm now owns 602,214 shares of the business services provider’s stock after selling 37,477 shares during that period, which is worth $43,721,000 at the end of the most recent quarter.
This development might seem like a minor blip in the tumultuous world of finance; however, it carries significant implications for those following Huron Consulting Group’s performance on NASDAQ. It offers valuable insights into Credit Suisse AG’s strategies and expectations regarding future market trends.
Huron Consulting Group released its quarterly earnings results on May 2nd this year. The business services provider reported $0.87 earnings per share for the quarter; this figure surpassed analysts’ consensus estimates of $0.67 by a whopping $0.20. Moreover, the company generated revenue of $317.90 million during the quarter compared to analysts’ predictions of $299.65 million.
These positive figures reflect an increase in revenue by 22.2%, indicating that Huron Consulting Group has been spectacularly successful despite prevailing economic and market challenges caused by various factors such as COVID-19.
The company operates through three distinct segments: Healthcare, Education, and Commercial divisions, providing clients with technology, data and analytics solutions tailored to their specific needs.
Huron Consulting Group primarily focuses on serving acute care providers such as national health systems, academic health systems, community health systems along with non-acute care practices like physician practices and medical groups among others.
Given these characteristics highlighting a steady growth rate and healthy profit margins coupled with Credit Suisse AG reducing its holding in HURN-recently suggests investors should keep tabs on any developments within Huron Consulting Group’s system.
In conclusion – changes in the ownership structure of companies can have a significant ripple effect on a business’s overall dynamics and market performance. Still, Huron Consulting Group’s capacity for robust growth and impressive revenue generation gives stockholders confidence in its future development despite negative market trends.
[bs_slider_forecast ticker=”HURN”]
Investment in Huron Consulting Group, Inc. Increases Among Hedge Funds and Institutional Investors
Huron Consulting Group, Inc. has seen a recent increase in investment from prominent hedge funds and institutional investors. Barclays PLC increased its stake by 21.4% during the third quarter, acquiring an additional 226 shares worth $85,000. Lazard Asset Management LLC also acquired a new position in the company during the first quarter valued at approximately $68,000. Additionally, IFP Advisors Inc grew its stake by 19.1% during the third quarter and now owns 1,529 shares valued at $72,000 after acquiring an extra 245 shares while Point72 Hong Kong Ltd experienced growth of 188.1%, increasing its stake to 1,576 shares worth $104,000 following an additional purchase of 1,029 shares.
Eagle Bay Advisors LLC also witnessed a higher stake in Huron Consulting Group after an increase of 17.9% in the fourth quarter added another 322 shares totalling up to 2,123 valued at $154,000.
The stock of Huron Consulting Group opened at $81.90 on Tuesday with a market capitalization of $1.57 billion and a price-to-earnings ratio of 26.85 alongside a beta of 0.56. The company has debt-to-equity ratio totalling to around .85 with both quick and current ratios remaining at a constant rate with values of around or equal to/above respectively.
The healthcare segment encompasses various healthcare providers varying from acute care providers including national and regional health systems as well as academic health systems; community health systems are also included along with children’s hospitals and critical access hospitals whilst public medical groups such as physician practices or payors are also incorporated into this section under non-acute care providers.
Huron Consulting Group has been recently rated or reviewed by various analysts providing an upward trend given their outstanding performance over the years since their inception as benchmark raised their price objective to $100.00 in their report on Wednesday, May 3rd.
In other news, John D. Kelly, CFO of Huron Consulting Group acquired 1,500 shares of stock at an average cost of $75.29 per share for a total transaction value of $112,935.00 in addition to previous acquisition of 1,500 shares on May 8th increasing his stake in the company to around 47,798 valued at approximately $3,598,711.42 through institutional buying and insider activity.
