Stock News in Focus: Addus HomeCare Corporation (NASDAQ:ADUS)

Addus HomeCare Corporation (NASDAQ:ADUS) stock identified change of 37.37% away from 52-week low price and recently located move of -14.34% off 52-week high price. It has market worth of $1051.38M. ADUS stock has been recorded -1.56% away from 50 day moving average and 12.65% away from 200 day moving average. Moving closer, we can see that shares have been trading -7.26% off 20-day moving average.

On Sept. 04, 2019, Addus HomeCare Corporation (NASDAQ:ADUS) a provider of comprehensive home care services,  released the pricing of an underwritten public offering of 2,000,000 shares of common stock (Common Stock) at the public offering price of $79.50 per share. Addus has granted the underwriters a 30-day option to purchase up to 300,000 additional shares of Common Stock at the public offering price. The gross proceeds to the Company from the offering, before deducting underwriting discounts and estimated offering expenses, are expected to be $159.0 million, excluding any proceeds from the exercise of the underwriters’ option to purchase additional shares from the Company. Addus intends to use some of the net proceeds it receives from the offering to fund the approximately $130.0 million purchase price for its acquisition of Hospice Partners of America, LLC, and may use any remaining net proceeds of the offering for general corporate purposes, including future acquisitions or investments, and the repayment of indebtedness outstanding under the Company’s amended and restated credit facility. There were no selling stockholders in the offering.

Jefferies LLC, RBC Capital Markets, LLC and Raymond James & Associates are acting as joint book-running managers for the offering. Robert W. Baird & Co. Incorporated, Oppenheimer & Co. Inc., Stephens Inc., William Blair & Company, L.L.C., BMO Capital Markets Corp., and Sidoti & Company, LLC are acting as co-managers. The offering is expected to close on or about September 9, 2019, subject to customary closing conditions.

 The Healthcare sector company, Addus HomeCare Corporation noticed change of -8.67% to $79.59 along volume of 319856 shares in recent session compared to an average volume of 106.68K.The stock observed return of -8.84% in 5 days trading activity. The stock was at 3.75% over one month performance. ADUS’s shares are at 9.60% for the quarter and driving a 22.63% return over the course of the past year and is now at 17.25% since this point in 2018. 

 The average volatility for the week at 2.83% and for month was at 3.70%. There are 13.21M shares outstanding and 12.99M shares are floated in market. Right now the stock beta is -0.12. 

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