Sonida Senior Living, Inc. $SNDA Stake Lifted by Irenic Capital Management LP

Irenic Capital Management LP raised its position in shares of Sonida Senior Living, Inc. (NYSE:SNDA) by 56.1% in the second quarter, HoldingsChannel reports. The firm owned 1,903,621 shares of the company’s stock after acquiring an additional 683,874 shares during the period. Sonida Senior Living comprises about 3.7% of Irenic Capital Management LP’s investment portfolio, making the stock its 7th largest holding. Irenic Capital Management LP’s holdings in Sonida Senior Living were worth $77,668,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Compass Financial Management LLC bought a new position in shares of Sonida Senior Living during the 2nd quarter worth $27,000. Allworth Financial LP bought a new stake in shares of Sonida Senior Living in the second quarter valued at about $43,000. Capital Advisors Ltd. LLC purchased a new stake in Sonida Senior Living in the first quarter worth about $45,000. Main Street Group LTD purchased a new stake in Sonida Senior Living in the first quarter worth about $50,000. Finally, First Bancorp Inc ME bought a new position in Sonida Senior Living during the 2nd quarter worth about $50,000. 87.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Benjamin Harris sold 6,269 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $39.79, for a total transaction of $249,443.51. Following the completion of the transaction, the director owned 10,037 shares in the company, valued at $399,372.23. The trade was a 38.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael Simanovsky sold 115,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $40.71, for a total transaction of $4,681,650.00. Following the sale, the director directly owned 254,447 shares of the company’s stock, valued at $10,358,537.37. The trade was a 31.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 275,343 shares of company stock worth $10,895,485. Insiders own 39.30% of the company’s stock.

Sonida Senior Living Price Performance

SNDA opened at $37.72 on Friday. The company has a 50-day moving average of $40.05. Sonida Senior Living, Inc. has a 1 year low of $24.94 and a 1 year high of $44.38. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -6.09 and a beta of 0.74.

Sonida Senior Living (NYSE:SNDA) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.43). The firm had revenue of $207.65 million for the quarter. Sonida Senior Living had a negative net margin of 23.27% and a negative return on equity of 25.53%. During the same period last year, the firm posted ($0.16) earnings per share. As a group, sell-side analysts expect that Sonida Senior Living, Inc. will post -3.21 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on SNDA. Cantor Fitzgerald raised their target price on shares of Sonida Senior Living from $42.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Weiss Ratings raised shares of Sonida Senior Living from a “sell (d-)” rating to a “sell (d)” rating in a research report on Wednesday, July 29th. Wall Street Zen upgraded shares of Sonida Senior Living from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Morgan Stanley lifted their price objective on shares of Sonida Senior Living from $38.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Citigroup assumed coverage on shares of Sonida Senior Living in a research note on Monday, July 27th. They issued a “market outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.50.

About Sonida Senior Living

Sonida Senior Living (NYSE: SNDA) is a publicly traded company that owns and operates senior living communities in the United States. The company’s core business centers on providing housing and care services for older adults, with an emphasis on assisted living, memory care and related supportive services tailored to residents’ needs.

Sonida’s communities combine residential accommodations with on-site services such as personal care assistance, medication management, dining programs, social and recreational activities, and clinical oversight.