Hanger (HNGR) Sees Unusually-High Trading Volume Following Earnings Beat

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Hanger Inc (OTCMKTS:HNGR) shares saw unusually-strong trading volume on Friday after the company announced better than expected quarterly earnings. Approximately 1,604,671 shares changed hands during trading, an increase of 1,354% from the previous session’s volume of 110,354 shares.The stock last traded at $20.03 and had previously closed at $18.95.

The healthcare company reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.01. The business had revenue of $262.95 million for the quarter, compared to the consensus estimate of $260.07 million.

A number of equities research analysts recently commented on HNGR shares. Zacks Investment Research upgraded Hanger from a “sell” rating to a “hold” rating in a research report on Wednesday. TheStreet lowered Hanger from a “c” rating to a “d” rating in a research report on Wednesday, October 31st. Finally, ValuEngine lowered Hanger from a “buy” rating to a “hold” rating in a research report on Monday, August 13th.

Institutional investors and hedge funds have recently made changes to their positions in the business. Trexquant Investment LP bought a new position in Hanger in the 3rd quarter valued at $389,000. Keybank National Association OH bought a new position in Hanger in the 3rd quarter valued at $438,000. Acadian Asset Management LLC bought a new position in Hanger in the 3rd quarter valued at $758,000. First Manhattan Co. bought a new position in Hanger in the 3rd quarter valued at $1,345,000. Finally, Deltec Asset Management LLC bought a new position in Hanger in the 3rd quarter valued at $1,510,000. Hedge funds and other institutional investors own 3.61% of the company’s stock.

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Hanger Company Profile (OTCMKTS:HNGR)

Hanger, Inc provides orthotic and prosthetic (O&P) services; and distributes O&P devices and components, manages O&P networks, and provides therapeutic solutions to patients and businesses in acute, post-acute, and clinic settings in the United States. It operates through two segments, Patient Care and Products & Services.

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