Huron Consulting Group (HURN) Sets New 52-Week High Following Earnings Beat

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Shares of Huron Consulting Group (NASDAQ:HURN) reached a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $52.52 and last traded at $53.69, with a volume of 7481 shares trading hands. The stock had previously closed at $46.80.

The business services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.59 by $0.05. Huron Consulting Group had a negative net margin of 2.79% and a positive return on equity of 8.02%. The business had revenue of $198.45 million during the quarter, compared to analysts’ expectations of $187.49 million. During the same period in the previous year, the business posted $0.43 EPS. The business’s quarterly revenue was up 12.5% compared to the same quarter last year.

Several analysts have commented on HURN shares. Benchmark restated a “buy” rating and set a $54.00 price objective (up from $52.00) on shares of Huron Consulting Group in a research note on Tuesday, September 18th. Barrington Research upgraded shares of Huron Consulting Group from a “market perform” rating to an “outperform” rating and set a $55.00 price objective for the company in a research note on Tuesday, August 28th. Zacks Investment Research upgraded shares of Huron Consulting Group from a “sell” rating to a “hold” rating in a research note on Friday, August 24th. BidaskClub upgraded shares of Huron Consulting Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 29th. Finally, SunTrust Banks restated a “buy” rating and set a $52.00 price objective on shares of Huron Consulting Group in a research note on Wednesday, August 1st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Huron Consulting Group presently has an average rating of “Buy” and an average price target of $53.67.

In other news, Director James D. Edwards sold 735 shares of Huron Consulting Group stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $49.21, for a total transaction of $36,169.35. Following the completion of the transaction, the director now directly owns 24,371 shares of the company’s stock, valued at approximately $1,199,296.91. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO James H. Roth sold 17,500 shares of Huron Consulting Group stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $48.97, for a total transaction of $856,975.00. Following the transaction, the chief executive officer now directly owns 215,397 shares of the company’s stock, valued at $10,547,991.09. The disclosure for this sale can be found here. 3.08% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the company. BlueMountain Capital Management LLC increased its holdings in Huron Consulting Group by 56.3% in the 2nd quarter. BlueMountain Capital Management LLC now owns 11,816 shares of the business services provider’s stock worth $483,000 after acquiring an additional 4,254 shares in the last quarter. Legal & General Group Plc increased its holdings in Huron Consulting Group by 50.0% in the 1st quarter. Legal & General Group Plc now owns 11,546 shares of the business services provider’s stock worth $440,000 after acquiring an additional 3,847 shares in the last quarter. Millennium Management LLC increased its holdings in Huron Consulting Group by 265.9% in the 2nd quarter. Millennium Management LLC now owns 316,539 shares of the business services provider’s stock worth $12,946,000 after acquiring an additional 230,019 shares in the last quarter. United Services Automobile Association increased its holdings in Huron Consulting Group by 13.9% in the 2nd quarter. United Services Automobile Association now owns 233,111 shares of the business services provider’s stock worth $9,534,000 after acquiring an additional 28,428 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in Huron Consulting Group by 83.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 10,795 shares of the business services provider’s stock worth $187,000 after acquiring an additional 4,923 shares in the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

The firm has a market capitalization of $1.04 billion, a P/E ratio of 23.74, a price-to-earnings-growth ratio of 1.62 and a beta of 0.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 1.54.

About Huron Consulting Group (NASDAQ:HURN)

Huron Consulting Group Inc, a professional services firm, provides advisory, technology, and analytic solutions in the United States and internationally. Its Healthcare segment provides advisory services in the areas of strategy, care transformation, financial and operational performance, technology and analytics, and leadership development to national and regional hospitals, integrated health systems, academic medical centers, community hospitals, and medical groups.

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