Rhumbline Advisers Acquires 6,040 Shares of AAC Holdings, Inc. (AAC)
Rhumbline Advisers grew its holdings in shares of AAC Holdings, Inc. (NYSE:AAC) by 38.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,719 shares of the company’s stock after acquiring an additional 6,040 shares during the period. Rhumbline Advisers owned about 0.09% of AAC Holdings worth $151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of the company. Mondrian Investment Partners LTD grew its position in shares of AAC Holdings by 21.3% during the 2nd quarter. Mondrian Investment Partners LTD now owns 482,965 shares of the company’s stock valued at $3,347,000 after acquiring an additional 84,905 shares during the period. Goldman Sachs Group Inc. bought a new stake in shares of AAC Holdings during the 1st quarter valued at $216,000. Citadel Advisors LLC bought a new stake in shares of AAC Holdings during the 1st quarter valued at $145,000. Marshall Wace North America L.P. bought a new stake in shares of AAC Holdings during the 1st quarter valued at $156,000. Finally, MARSHALL WACE ASIA Ltd bought a new stake in shares of AAC Holdings during the 1st quarter valued at $156,000. 64.03% of the stock is owned by hedge funds and other institutional investors.
AAC Holdings, Inc. (AAC) opened at 7.93 on Wednesday. AAC Holdings, Inc. has a one year low of $5.99 and a one year high of $19.98. The company’s market cap is $190.80 million. The company has a 50-day moving average of $9.89 and a 200 day moving average of $7.93.
AAC Holdings (NYSE:AAC) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.12. The company had revenue of $78.04 million for the quarter, compared to analyst estimates of $73.40 million. AAC Holdings had a negative net margin of 1.55% and a positive return on equity of 10.70%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the business earned $0.18 earnings per share. Analysts anticipate that AAC Holdings, Inc. will post $0.51 earnings per share for the current year.
A number of brokerages have recently issued reports on AAC. Zacks Investment Research downgraded shares of AAC Holdings from a “hold” rating to a “sell” rating in a research report on Monday, October 9th. Cantor Fitzgerald reissued a “buy” rating and set a $14.00 price objective on shares of AAC Holdings in a research report on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. AAC Holdings currently has an average rating of “Hold” and a consensus price target of $10.00.
About AAC Holdings
AAC Holdings, Inc is a provider of inpatient and outpatient substance abuse treatment services for individuals with drug and alcohol addiction. The Company performs drug testing and diagnostics laboratory services and provides physician services to its clients. As of June 30, 2016, the Company operated 12 residential substance abuse treatment facilities located throughout the United States, focused on delivering clinical care and treatment solutions across 1,139 beds, which includes 636 licensed detoxification beds, and 18 standalone outpatient centers.
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