Rock Point Advisors LLC decreased its stake in The Advisory Board Co. (NASDAQ:ABCO) by 5.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 95,620 shares of the company’s stock after selling 5,840 shares during the period. The Advisory Board comprises approximately 1.8% of Rock Point Advisors LLC’s holdings, making the stock its 23rd largest position. Rock Point Advisors LLC’s holdings in The Advisory Board were worth $3,384,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABCO. Menta Capital LLC purchased a new position in The Advisory Board during the first quarter valued at $264,000. Pacad Investment Ltd. raised its position in The Advisory Board by 45.2% in the first quarter. Pacad Investment Ltd. now owns 8,728 shares of the company’s stock valued at $281,000 after buying an additional 2,717 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in The Advisory Board during the second quarter valued at $297,000. AXA raised its position in The Advisory Board by 28.5% in the first quarter. AXA now owns 27,640 shares of the company’s stock valued at $891,000 after buying an additional 6,129 shares during the last quarter. Finally, BlackRock Group LTD raised its position in The Advisory Board by 22.7% in the first quarter. BlackRock Group LTD now owns 27,766 shares of the company’s stock valued at $895,000 after buying an additional 5,130 shares during the last quarter.
Shares of The Advisory Board Co. (NASDAQ:ABCO) traded up 0.05% during trading on Monday, reaching $43.49. 222,837 shares of the company were exchanged. The firm’s 50 day moving average price is $43.20 and its 200 day moving average price is $37.49. The company’s market capitalization is $1.75 billion. The Advisory Board Co. has a one year low of $18.87 and a one year high of $54.84.
The Advisory Board (NASDAQ:ABCO) last released its earnings results on Wednesday, July 27th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.13. The business earned $198.40 million during the quarter, compared to the consensus estimate of $196.49 million. The Advisory Board had a negative net margin of 10.21% and a positive return on equity of 11.59%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 EPS. Equities research analysts forecast that The Advisory Board Co. will post $1.86 earnings per share for the current fiscal year.
Several research analysts recently weighed in on the stock. Zacks Investment Research raised shares of The Advisory Board from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Wednesday, July 6th. Raymond James Financial Inc. lowered shares of The Advisory Board from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 19th. Barclays PLC lifted their price objective on shares of The Advisory Board from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, September 30th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $49.00 price objective (up previously from $45.00) on shares of The Advisory Board in a research note on Wednesday, September 28th. Finally, William Blair reissued an “outperform” rating on shares of The Advisory Board in a research note on Tuesday, September 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the stock. The Advisory Board has a consensus rating of “Buy” and a consensus target price of $44.07.
In other The Advisory Board news, CEO Robert W. Musslewhite sold 5,500 shares of the stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $43.09, for a total transaction of $236,995.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Cormac F. Miller sold 750 shares of the stock in a transaction that occurred on Wednesday, October 12th. The stock was sold at an average price of $43.15, for a total value of $32,362.50. Following the transaction, the insider now owns 18,237 shares in the company, valued at $786,926.55. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.
The Advisory Board Company Profile
The Advisory Board Company is a provider of software and solutions to the healthcare and higher education industries. The Company’s healthcare programs address a range of clinical and business issues, including physician alignment and engagement, network management and growth strategy, value-based care and population health, revenue cycle, clinical operations and supply chain.