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Acadia Healthcare Company, Inc. (NASDAQ:ACHC) Sees Large Growth in Short Interest

Defense World · Sep 19, 2022 03:41

Acadia Healthcare Company, Inc. (NASDAQ:ACHC – Get Rating) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 4,110,000 shares, an increase of 12.6% from the August 15th total of 3,650,000 shares. Based on an average daily volume of 576,900 shares, the days-to-cover ratio is presently 7.1 days. Currently, 4.6% of the company's shares are sold short.

Insider Activity

In other news, Director William M. Petrie sold 6,000 shares of the business's stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $83.42, for a total transaction of $500,520.00. Following the transaction, the director now owns 31,769 shares of the company's stock, valued at approximately $2,650,169.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director William Grieco sold 5,000 shares of the business's stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $82.54, for a total transaction of $412,700.00. Following the completion of the transaction, the director now owns 73,811 shares in the company, valued at approximately $6,092,359.94. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William M. Petrie sold 6,000 shares of the business's stock in a transaction on Friday, July 29th. The shares were sold at an average price of $83.42, for a total value of $500,520.00. Following the transaction, the director now owns 31,769 shares of the company's stock, valued at approximately $2,650,169.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,094 shares of company stock valued at $2,788,568. 1.90% of the stock is currently owned by insiders.

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Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Synovus Financial Corp boosted its stake in shares of Acadia Healthcare by 3.4% in the second quarter. Synovus Financial Corp now owns 4,486 shares of the company's stock worth $299,000 after buying an additional 148 shares during the last quarter. AE Wealth Management LLC boosted its position in Acadia Healthcare by 1.9% during the second quarter. AE Wealth Management LLC now owns 9,177 shares of the company's stock worth $621,000 after purchasing an additional 169 shares in the last quarter. Securian Asset Management Inc. boosted its position in Acadia Healthcare by 2.4% during the second quarter. Securian Asset Management Inc. now owns 8,253 shares of the company's stock worth $558,000 after purchasing an additional 194 shares in the last quarter. State of Michigan Retirement System boosted its position in Acadia Healthcare by 0.9% during the second quarter. State of Michigan Retirement System now owns 23,030 shares of the company's stock worth $1,558,000 after purchasing an additional 200 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC boosted its position in Acadia Healthcare by 1.4% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 15,152 shares of the company's stock worth $1,025,000 after purchasing an additional 215 shares in the last quarter. 99.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ACHC has been the subject of several research reports. Loop Capital initiated coverage on Acadia Healthcare in a report on Thursday, June 16th. They issued a "hold" rating and a $72.00 target price for the company. SVB Leerink upped their target price on Acadia Healthcare from $95.00 to $103.00 and gave the stock an "outperform" rating in a report on Friday, August 26th. UBS Group upped their target price on Acadia Healthcare from $82.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, July 28th. Jefferies Financial Group upped their target price on Acadia Healthcare from $85.00 to $95.00 in a report on Thursday, July 28th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Acadia Healthcare from $70.00 to $82.00 in a report on Monday, August 1st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $83.88.

Acadia Healthcare Trading Up 0.4 %

Shares of NASDAQ:ACHC opened at $84.17 on Monday. The business's 50-day moving average is $80.73 and its 200 day moving average is $73.04. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market capitalization of $7.65 billion, a P/E ratio of 27.60, a P/E/G ratio of 2.02 and a beta of 1.28. Acadia Healthcare has a 1 year low of $50.07 and a 1 year high of $86.75.

Acadia Healthcare (NASDAQ:ACHC – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.07. The business had revenue of $651.72 million for the quarter, compared to analyst estimates of $650.80 million. Acadia Healthcare had a return on equity of 10.34% and a net margin of 11.32%. The company's revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.71 earnings per share. On average, research analysts predict that Acadia Healthcare will post 3.08 earnings per share for the current fiscal year.

About Acadia Healthcare

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Acadia Healthcare Company, Inc provides behavioral healthcare services in the United States and Puerto Rico. The company offers behavioral healthcare services to its patients in various settings, including inpatient psychiatric hospitals, specialty treatment facilities, residential treatment centers, and outpatient clinics.