AAC Holdings Inc. (AAC) Sees Large Volume Increase
AAC Holdings Inc. (NYSE:AAC) shares saw an uptick in trading volume on Thursday . 170,520 shares traded hands during mid-day trading, an increase of 62% from the previous session’s volume of 105,012 shares.The stock last traded at $20.33 and had previously closed at $19.96.
Several research firms have issued reports on AAC. Avondale Partners restated a “market outperform” rating on shares of AAC Holdings in a research report on Monday, April 18th. Mizuho upgraded shares of AAC Holdings from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Wednesday, May 25th. Zacks Investment Research lowered shares of AAC Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 11th. Finally, TheStreet upgraded shares of AAC Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, May 5th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $26.00.
The firm has a market capitalization of $445.72 million and a P/E ratio of 46.05. The company has a 50-day moving average price of $21.68 and a 200-day moving average price of $20.24.
AAC Holdings (NYSE:AAC) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.05. The firm had revenue of $71.50 million for the quarter, compared to analyst estimates of $67.42 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The firm’s quarterly revenue was up 32.9% compared to the same quarter last year. On average, analysts anticipate that AAC Holdings Inc. will post $0.96 earnings per share for the current fiscal year.
In other AAC Holdings news, Chairman Michael T. Cartwright sold 24,576 shares of the company’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $23.26, for a total transaction of $571,637.76. Following the sale, the chairman now directly owns 3,080,490 shares of the company’s stock, valued at $71,652,197.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Jerrod N. Menz sold 1,897 shares of the company’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $23.05, for a total transaction of $43,725.85. Following the sale, the insider now directly owns 2,477,745 shares in the company, valued at $57,112,022.25. The disclosure for this sale can be found here.
An institutional investor recently raised its position in AAC Holdings stock. Russell Frank Co boosted its stake in AAC Holdings Inc. (NYSE:AAC) by 5.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,638 shares of the company’s stock after buying an additional 8,492 shares during the period. Russell Frank Co owned approximately 0.69% of AAC Holdings worth $2,850,000 at the end of the most recent reporting period.
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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