AAC Holdings, Inc. (AAC) Shares Sold by Cortina Asset Management LLC
Cortina Asset Management LLC trimmed its holdings in shares of AAC Holdings, Inc. (NYSE:AAC) by 0.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,179,361 shares of the company’s stock after selling 5,246 shares during the period. Cortina Asset Management LLC owned approximately 4.91% of AAC Holdings worth $11,711,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. California State Teachers Retirement System boosted its stake in AAC Holdings by 1.5% during the second quarter. California State Teachers Retirement System now owns 20,291 shares of the company’s stock valued at $141,000 after buying an additional 300 shares in the last quarter. State Street Corp boosted its stake in AAC Holdings by 7.4% during the second quarter. State Street Corp now owns 164,658 shares of the company’s stock valued at $1,139,000 after buying an additional 11,338 shares in the last quarter. San Francisco Sentry Investment Group CA bought a new position in AAC Holdings during the second quarter valued at about $31,241,000. Woodmont Investment Counsel LLC boosted its stake in AAC Holdings by 10.0% during the second quarter. Woodmont Investment Counsel LLC now owns 45,226 shares of the company’s stock valued at $313,000 after buying an additional 4,130 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in AAC Holdings by 4.6% during the second quarter. Northern Trust Corp now owns 128,741 shares of the company’s stock valued at $893,000 after buying an additional 5,709 shares in the last quarter. 45.84% of the stock is owned by institutional investors and hedge funds.
AAC has been the subject of several research reports. Cantor Fitzgerald reaffirmed a “buy” rating and set a $14.00 target price on shares of AAC Holdings in a research note on Wednesday, November 1st. Zacks Investment Research raised AAC Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Raymond James Financial, Inc. raised AAC Holdings from a “mkt perform” rating to an “outperform” rating in a research note on Friday, November 3rd. Finally, UBS AG raised AAC Holdings from a “market perform” rating to an “outperform” rating in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. AAC Holdings currently has an average rating of “Hold” and a consensus target price of $10.00.
In related news, Director W Larry Cash purchased 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was acquired at an average price of $9.93 per share, for a total transaction of $119,160.00. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $148,950. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Jerrod N. Menz sold 700,000 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $10.22, for a total value of $7,154,000.00. The disclosure for this sale can be found here. Company insiders own 33.99% of the company’s stock.
AAC Holdings, Inc. (NYSE AAC) traded down $0.93 during trading hours on Tuesday, hitting $8.89. The company had a trading volume of 277,200 shares, compared to its average volume of 131,283. The company has a debt-to-equity ratio of 1.42, a current ratio of 3.28 and a quick ratio of 3.28. AAC Holdings, Inc. has a fifty-two week low of $5.99 and a fifty-two week high of $13.06. The firm has a market cap of $222.71, a price-to-earnings ratio of 15.11 and a beta of 1.87.
AAC Holdings (NYSE:AAC) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.07. AAC Holdings had a positive return on equity of 9.64% and a negative net margin of 0.42%. The business had revenue of $80.42 million during the quarter, compared to analyst estimates of $74.49 million. During the same quarter last year, the company posted $0.19 EPS. AAC Holdings’s revenue for the quarter was up 14.0% on a year-over-year basis. analysts anticipate that AAC Holdings, Inc. will post 0.54 EPS for the current year.
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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