The Ensign Group, Inc. (NASDAQ:ENSG) Sees Significant Growth in Short Interest

by · The Markets Daily

The Ensign Group, Inc. (NASDAQ:ENSG – Get Free Report) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 2,810,000 shares, a growth of 13.3% from the August 31st total of 2,480,000 shares. Currently, 5.1% of the shares of the stock are short sold. Based on an average trading volume of 384,500 shares, the days-to-cover ratio is currently 7.3 days.

The Ensign Group Price Performance

NASDAQ ENSG opened at $143.82 on Tuesday. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $8.19 billion, a PE ratio of 37.85, a price-to-earnings-growth ratio of 2.03 and a beta of 0.96. The Ensign Group has a 12-month low of $90.00 and a 12-month high of $154.93. The company has a 50 day moving average price of $145.89 and a two-hundred day moving average price of $130.33.

The Ensign Group (NASDAQ:ENSG – Get Free Report) last posted its earnings results on Thursday, July 25th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.02. The Ensign Group had a return on equity of 17.32% and a net margin of 5.68%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the company earned $1.08 EPS. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, equities analysts predict that The Ensign Group will post 4.99 earnings per share for the current fiscal year.

The Ensign Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend is Monday, September 30th. The Ensign Group’s dividend payout ratio is currently 6.32%.

Insider Buying and Selling at The Ensign Group

In other The Ensign Group news, CEO Barry Port sold 3,000 shares of The Ensign Group stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $140.00, for a total value of $420,000.00. Following the transaction, the chief executive officer now owns 53,716 shares in the company, valued at $7,520,240. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Barry Port sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $140.00, for a total transaction of $420,000.00. Following the sale, the chief executive officer now owns 53,716 shares in the company, valued at $7,520,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daren Shaw sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $141.71, for a total transaction of $283,420.00. Following the completion of the sale, the director now owns 29,125 shares of the company’s stock, valued at approximately $4,127,303.75. The disclosure for this sale can be found here. In the last three months, insiders sold 24,736 shares of company stock valued at $3,491,039. 3.90% of the stock is owned by insiders.

Institutional Trading of The Ensign Group

A number of hedge funds have recently bought and sold shares of ENSG. Opal Wealth Advisors LLC acquired a new position in shares of The Ensign Group in the second quarter valued at $31,000. EntryPoint Capital LLC acquired a new stake in shares of The Ensign Group during the 1st quarter valued at about $34,000. Scarborough Advisors LLC bought a new stake in The Ensign Group in the fourth quarter valued at about $35,000. LRI Investments LLC acquired a new position in The Ensign Group in the first quarter worth about $45,000. Finally, Canada Pension Plan Investment Board bought a new position in The Ensign Group during the second quarter worth about $49,000. 96.12% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on ENSG. Truist Financial lifted their target price on The Ensign Group from $150.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Oppenheimer increased their target price on shares of The Ensign Group from $155.00 to $165.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Finally, Macquarie assumed coverage on shares of The Ensign Group in a report on Friday, June 28th. They set an “outperform” rating and a $134.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $145.40.

Read Our Latest Stock Report on The Ensign Group

About The Ensign Group

(Get Free Report)

The Ensign Group, Inc provides skilled nursing, senior living, and rehabilitative services. It operates through two segments: Skilled Services and Standard Bearer. The company's Skilled Services segment engages in the operation of skilled nursing facilities and rehabilitation therapy services for patients with chronic conditions, prolonged illness, and the elderly; and offers nursing facilities including specialty care, such as on-site dialysis, ventilator care, cardiac, and pulmonary management, as well as standard services comprising room and board, special nutritional programs, social services, recreational activities, entertainment, and other services.

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