Insider Selling: Acadia Healthcare Co major shareholder Unloads 30,000 Shares of Stock (ACHC)
Acadia Healthcare Co (NASDAQ:ACHC) major shareholder Norman King Carter III unloaded 30,000 shares of the stock on the open market in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $51.79, for a total value of $1,553,700.00. Following the transaction, the insider now directly owns 60,896 shares of the company’s stock, valued at approximately $3,153,804. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
ACHC has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Acadia Healthcare Co from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, January 8th. They now have a $51.50 price target on the stock. Separately, analysts at Citigroup Inc. downgraded shares of Acadia Healthcare Co from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, January 7th. They now have a $49.00 price target on the stock, up previously from $43.00. Finally, analysts at Susquehanna initiated coverage on shares of Acadia Healthcare Co in a research note to investors on Tuesday, December 17th. They set a “positive” rating on the stock. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $43.55.
Shares of Acadia Healthcare Co (NASDAQ:ACHC) traded down 0.87% during mid-day trading on Wednesday, hitting $50.99. The stock had a trading volume of 381,657 shares. Acadia Healthcare Co has a 1-year low of $24.93 and a 1-year high of $53.87. The stock’s 50-day moving average is $49. and its 200-day moving average is $42.14. The company has a market cap of $2.576 billion and a price-to-earnings ratio of 72.35.
Acadia Healthcare Company, Inc is a provider of inpatient behavioral healthcare services in the United States.
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