Bank of America Corp DE raised its position in AAC Holdings, Inc. (NYSE:AAC) by 0.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 358,184 shares of the company’s stock after buying an additional 269 shares during the period. Bank of America Corp DE owned 1.49% of AAC Holdings worth $3,056,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Nationwide Fund Advisors raised its stake in shares of AAC Holdings by 168.0% in the first quarter. Nationwide Fund Advisors now owns 15,903 shares of the company’s stock worth $136,000 after buying an additional 9,968 shares during the period. Citadel Advisors LLC purchased a new stake in shares of AAC Holdings during the first quarter worth $145,000. Marshall Wace North America L.P. purchased a new stake in shares of AAC Holdings during the first quarter worth $156,000. MARSHALL WACE ASIA Ltd purchased a new stake in shares of AAC Holdings during the first quarter worth $156,000. Finally, Highbridge Capital Management LLC purchased a new stake in shares of AAC Holdings during the fourth quarter worth $180,000. 47.93% of the stock is owned by hedge funds and other institutional investors.
AAC Holdings, Inc. (NYSE:AAC) opened at 9.05 on Friday. The company’s 50-day moving average price is $7.24 and its 200 day moving average price is $7.52. AAC Holdings, Inc. has a 52 week low of $5.99 and a 52 week high of $20.33. The stock’s market capitalization is $217.74 million.
AAC Holdings (NYSE:AAC) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.12. The firm had revenue of $78.04 million for the quarter, compared to analyst estimates of $73.40 million. AAC Holdings had a negative net margin of 1.55% and a positive return on equity of 10.70%. AAC Holdings’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 earnings per share. Equities research analysts expect that AAC Holdings, Inc. will post $0.54 EPS for the current fiscal year.
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A number of research analysts have recently issued reports on AAC shares. Mizuho cut their price target on 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 upgraded AAC Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Finally, Cantor Fitzgerald started coverage on AAC Holdings in a report on Wednesday, August 9th. They issued an “overweight” rating and a $11.00 price target on the stock. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $8.50.
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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