AAC Holdings Inc. (AAC) Shares Down 3.5%
Shares of AAC Holdings Inc. (NYSE:AAC) dropped 3.5% during trading on Tuesday . The company traded as low as $17.16 and last traded at $17.16, with a volume of 111,562 shares trading hands. The stock had previously closed at $17.78.
AAC has been the topic of a number of recent research reports. Raymond James Financial Inc. upgraded shares of AAC Holdings from an “outperform” rating to a “strong-buy” rating and set a $29.00 price target on the stock in a research note on Monday, August 15th. Citigroup Inc. upgraded shares of AAC Holdings from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $27.00 to $29.00 in a research note on Monday, August 15th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of AAC Holdings from a “hold” rating to a “strong-buy” rating and set a $26.00 price target on the stock in a research note on Wednesday, July 6th. Finally, Mizuho reiterated a “buy” rating and issued a $26.00 target price (up from $24.00) on shares of AAC Holdings in a research note on Monday, July 18th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. AAC Holdings presently has an average rating of “Buy” and a consensus price target of $27.50.
The stock has a market cap of $405.76 million, a price-to-earnings ratio of 94.07 and a beta of 2.68. The stock has a 50 day moving average of $18.60 and a 200-day moving average of $19.98.
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AAC Holdings (NYSE:AAC) last issued its earnings results on Thursday, August 4th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by $0.05. The firm earned $71.50 million during the quarter, compared to analysts’ expectations of $67.42 million. AAC Holdings had a return on equity of 12.40% and a net margin of 1.73%. The firm’s quarterly revenue was up 32.9% on a year-over-year basis. During the same period last year, the firm posted $0.26 earnings per share. On average, equities analysts anticipate that AAC Holdings Inc. will post $0.86 earnings per share for the current fiscal year.
In other news, Chairman Michael T. Cartwright sold 24,576 shares of AAC Holdings stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $23.26, for a total value of $571,637.76. Following the completion of the sale, the chairman now directly owns 3,080,490 shares in the company, valued at $71,652,197.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Darrell S. Freeman purchased 2,500 shares of AAC Holdings stock in a transaction dated Friday, August 12th. The stock was bought at an average price of $17.45 per share, with a total value of $43,625.00. Following the completion of the purchase, the director now directly owns 113,660 shares of the company’s stock, valued at $1,983,367. The disclosure for this purchase can be found here. 37.30% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC raised its stake in shares of AAC Holdings by 10.8% in the second quarter. Sterling Capital Management LLC now owns 90,073 shares of the company’s stock worth $2,055,000 after buying an additional 8,794 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of AAC Holdings by 1.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 22,314 shares of the company’s stock worth $510,000 after buying an additional 336 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of AAC Holdings by 18.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 8,298 shares of the company’s stock worth $189,000 after buying an additional 1,303 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of AAC Holdings by 87.7% in the second quarter. Point72 Asset Management L.P. now owns 67,000 shares of the company’s stock worth $1,529,000 after buying an additional 31,300 shares in the last quarter. Finally, EverPoint Asset Management LLC raised its stake in shares of AAC Holdings by 122.2% in the second quarter. EverPoint Asset Management LLC now owns 200,000 shares of the company’s stock worth $4,564,000 after buying an additional 110,000 shares in the last quarter. Hedge funds and other institutional investors own 51.39% of the company’s stock.
AAC Holdings Company Profile
AAC Holdings, Inc is a provider of inpatient substance abuse treatment services for individuals with drug and alcohol addiction. The Company operates through substance abuse/behavioral healthcare treatment services segment. The Company operates approximately nine residential substance abuse treatment facilities located throughout the United States, focused on delivering clinical care and treatment solutions across approximately 900 beds, which includes approximately 480 licensed detoxification beds.
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