AAC Holdings, Inc. (AAC) Stake Boosted by Stephens Investment Management Group LLC
Stephens Investment Management Group LLC lifted its stake in AAC Holdings, Inc. (NYSE:AAC) by 0.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,146,927 shares of the company’s stock after acquiring an additional 1,610 shares during the quarter. Stephens Investment Management Group LLC owned 4.93% of AAC Holdings worth $7,948,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Alliancebernstein L.P. lifted its holdings in shares of AAC Holdings by 3.8% in the 2nd quarter. Alliancebernstein L.P. now owns 20,600 shares of the company’s stock worth $143,000 after acquiring an additional 760 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of AAC Holdings by 38.5% in the 2nd quarter. Rhumbline Advisers now owns 21,719 shares of the company’s stock worth $151,000 after acquiring an additional 6,040 shares during the last quarter. Nationwide Fund Advisors lifted its holdings in shares of AAC Holdings by 168.0% in the 1st quarter. Nationwide Fund Advisors now owns 15,903 shares of the company’s stock worth $136,000 after acquiring an additional 9,968 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of AAC Holdings in the 1st quarter worth approximately $145,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of AAC Holdings in the 1st quarter worth approximately $156,000. Hedge funds and other institutional investors own 64.31% of the company’s stock.
Shares of AAC Holdings, Inc. (NYSE AAC) opened at 11.65 on Thursday. AAC Holdings, Inc. has a 1-year low of $5.99 and a 1-year high of $19.98. The firm’s market cap is $280.30 million. The stock has a 50 day moving average of $8.63 and a 200 day moving average of $7.72.
AAC Holdings (NYSE:AAC) last released its earnings results on Wednesday, August 2nd. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.12. AAC Holdings had a negative net margin of 1.55% and a positive return on equity of 10.70%. The firm had revenue of $78.04 million during the quarter, compared to analyst estimates of $73.40 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities research analysts anticipate that AAC Holdings, Inc. will post $0.54 earnings per share for the current fiscal year.
Several equities analysts have recently commented on AAC shares. Mizuho decreased their price objective on shares of AAC Holdings from $9.00 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, May 30th. Zacks Investment Research lowered shares of AAC Holdings from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Finally, Cantor Fitzgerald started coverage on shares of AAC Holdings in a report on Wednesday, August 9th. They issued an “overweight” rating and a $11.00 price objective on the stock. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $10.00.
AAC Holdings Profile
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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