Stock traders buy large volume of target hotel put options (NASDAQ: TH)

Target Hospitality Corp. (NASDAQ:TH – Get Rating) was the recipient of some unusual options trades on Monday. Stock traders bought 14,456 put options on the stock. This represents a 416% increase from the average daily volume of 2,801 put options.

Analysts set new price targets

Separately, Oppenheimer raised its price target on Target Hospitality shares from $9.00 to $18.00 and gave the stock an “outperform” rating in a Tuesday, July 12 report.

Target performance of hotel stocks

The NASDAQ TH was down $0.89 during Monday trading hours, hitting $10.72. The stock had a trading volume of 30,883 shares, compared to an average trading volume of 630,864. The stock has a fifty-day moving average of $12.53 and a 200-day moving average of $10.17. The stock has a market capitalization of $1.04 billion, a P/E ratio of 30.83, a price-to-earnings growth ratio of 0.56 and a beta of 2.34. Target Hospitality has a 52-week minimum of $2.72 and a 52-week maximum of $15.67. The company has a debt ratio of 2.84, a quick ratio of 1.67 and a current ratio of 1.67.

Target Hospitality (NASDAQ:TH – Get Rating) last reported results on Tuesday, August 9. The company reported EPS of $0.24 for the quarter, beating consensus analyst estimates of $0.17 by $0.07. The company posted revenue of $109.65 million for the quarter, versus analyst estimates of $104.60 million. Target Hospitality had a return on equity of 31.74% and a net margin of 9.10%. In the same quarter of the previous year, the company had earned a profit per share of ($0.01). Sell-side analysts expect Target Hospitality to post 1.37 earnings per share for the current year.

Institutional entries and exits

Several large investors have recently changed their positions in TH. Counterpoint Mutual Funds LLC acquired a new position in Target Hospitality in Q1 worth $68,000. O Shaughnessy Asset Management LLC acquired a new position in Target Hospitality in Q2 worth $67,000. ExodusPoint Capital Management LP acquired a new position in Target Hospitality in Q2 worth $67,000. Raymond James & Associates acquired a new position in Target Hospitality in Q1 worth $70,000. Finally, SG Americas Securities LLC acquired a new position in Target Hospitality in Q1 worth $70,000. 24.12% of the shares are held by institutional investors and hedge funds.

About Target Hospitality

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Target Hospitality Corp. operates as a specialized rental and hospitality services company in North America. The Company operates through four segments: Hospitality and Facilities Services – South, Hospitality and Facilities Services – Midwest, Government and TCPL Keystone. It has a network of specialized rental accommodation units with approximately 15,528 beds in 27 communities, including 26 owned and 1 rented; and operates 1 community not owned or leased by the company.

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