Acadia Healthcare Co. (ACHC) Position Cut by Emerald Mutual Fund Advisers Trust
Emerald Mutual Fund Advisers Trust reduced its position in shares of Acadia Healthcare Co. (NASDAQ:ACHC) by 15.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 291,607 shares of the company’s stock after selling 51,662 shares during the period. Emerald Mutual Fund Advisers Trust owned about 0.33% of Acadia Healthcare worth $16,155,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in Acadia Healthcare by 97.2% in the first quarter. Wellington Management Group LLP now owns 6,983,799 shares of the company’s stock valued at $384,877,000 after buying an additional 3,441,579 shares during the period. Pennant Capital Management LLC purchased a new stake in Acadia Healthcare during the first quarter valued at $83,685,000. American Century Companies Inc. purchased a new stake in Acadia Healthcare during the second quarter valued at $56,657,000. JPMorgan Chase & Co. boosted its stake in Acadia Healthcare by 17.7% in the first quarter. JPMorgan Chase & Co. now owns 4,748,547 shares of the company’s stock valued at $261,693,000 after buying an additional 715,472 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Acadia Healthcare by 23.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,657,465 shares of the company’s stock valued at $91,343,000 after buying an additional 317,107 shares during the period.
Shares of Acadia Healthcare Co. (NASDAQ:ACHC) traded up 1.23% during trading on Tuesday, hitting $49.49. The stock had a trading volume of 597,344 shares. The firm has a 50 day moving average price of $50.84 and a 200-day moving average price of $55.15. Acadia Healthcare Co. has a 52 week low of $46.99 and a 52 week high of $74.77. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 26.44 and a beta of 0.86.
Acadia Healthcare (NASDAQ:ACHC) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.73 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.73. The company had revenue of $756.50 million for the quarter, compared to analysts’ expectations of $752.57 million. Acadia Healthcare had a return on equity of 9.35% and a net margin of 6.44%. Acadia Healthcare’s revenue for the quarter was up 66.8% compared to the same quarter last year. During the same period last year, the firm posted $0.57 EPS. On average, equities research analysts forecast that Acadia Healthcare Co. will post $2.63 EPS for the current fiscal year.
ACHC has been the topic of several research reports. Leerink Swann restated a “buy” rating and set a $80.00 price target on shares of Acadia Healthcare in a report on Sunday, August 28th. Robert W. Baird reduced their price target on Acadia Healthcare from $67.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, September 15th. JPMorgan Chase & Co. restated a “hold” rating and set a $61.00 price target on shares of Acadia Healthcare in a report on Tuesday, September 27th. Zacks Investment Research cut Acadia Healthcare from a “hold” rating to a “sell” rating in a report on Monday, July 11th. Finally, Royal Bank Of Canada reduced their price target on Acadia Healthcare from $86.00 to $78.00 and set an “outperform” rating on the stock in a report on Monday, August 1st. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $77.21.
In related news, CFO David M. Duckworth sold 16,670 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $54.33, for a total transaction of $905,681.10. Following the transaction, the chief financial officer now directly owns 11,688 shares of the company’s stock, valued at approximately $635,009.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Reeve B. Waud sold 1,360,977 shares of the firm’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $48.52, for a total value of $66,034,604.04. Following the transaction, the director now directly owns 55,673 shares in the company, valued at $2,701,253.96. The disclosure for this sale can be found here. Corporate insiders own 17.20% of the company’s stock.
About Acadia Healthcare
Acadia Healthcare Company, Inc is a provider of behavioral healthcare services. The Company operates in two segments: U.S. Facilities and U.K. Facilities. The Company develops and operates inpatient psychiatric facilities, residential treatment centers, group homes, substance abuse facilities and facilities providing outpatient behavioral healthcare services to serve the behavioral health and recovery needs of communities throughout the United States, the United Kingdom and Puerto Rico.
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