AAC Holdings, Inc. (AAC) Chairman Michael T. Cartwright Sells 250,000 Shares of Stock
AAC Holdings, Inc. (NYSE:AAC) Chairman Michael T. Cartwright sold 250,000 shares of AAC Holdings stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $9.63, for a total value of $2,407,500.00. Following the completion of the transaction, the chairman now owns 2,880,490 shares of the company’s stock, valued at approximately $27,739,118.70. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of AAC Holdings, Inc. (AAC) traded up $0.12 during trading on Friday, reaching $9.93. The company’s stock had a trading volume of 177,100 shares, compared to its average volume of 130,578. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 1.42. The company has a market cap of $235.66, a P/E ratio of 15.09 and a beta of 1.87. AAC Holdings, Inc. has a 52-week low of $5.99 and a 52-week high of $13.06.
AAC Holdings (NYSE:AAC) last announced its earnings results on Wednesday, November 1st. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.07. The firm had revenue of $80.42 million for the quarter, compared to the consensus estimate of $74.49 million. AAC Holdings had a positive return on equity of 9.64% and a negative net margin of 0.42%. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 EPS. equities research analysts predict that AAC Holdings, Inc. will post 0.54 earnings per share for the current year.
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Institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System raised its stake in AAC Holdings by 1.5% during the 2nd quarter. California State Teachers Retirement System now owns 20,291 shares of the company’s stock valued at $141,000 after acquiring an additional 300 shares in the last quarter. Alliancebernstein L.P. raised its stake in AAC Holdings by 3.8% during the 2nd quarter. Alliancebernstein L.P. now owns 20,600 shares of the company’s stock valued at $143,000 after acquiring an additional 760 shares in the last quarter. Rhumbline Advisers raised its stake in AAC Holdings by 38.5% during the 2nd quarter. Rhumbline Advisers now owns 21,719 shares of the company’s stock valued at $151,000 after acquiring an additional 6,040 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in AAC Holdings during the 1st quarter valued at $216,000. Finally, Nationwide Fund Advisors raised its stake in shares of AAC Holdings by 116.4% in the 2nd quarter. Nationwide Fund Advisors now owns 34,414 shares of the company’s stock worth $238,000 after buying an additional 18,511 shares in the last quarter. 63.65% of the stock is currently owned by hedge funds and other institutional investors.
AAC has been the subject of several research reports. Zacks Investment Research lowered AAC Holdings from a “hold” rating to a “sell” rating in a research report on Monday, October 9th. Raymond James Financial, Inc. raised AAC Holdings from a “mkt perform” rating to an “outperform” rating in a report on Friday, November 3rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 price target (up previously from $11.00) on shares of AAC Holdings in a report on Wednesday, September 13th. Finally, UBS AG raised AAC Holdings from a “market perform” rating to an “outperform” rating in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price 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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