Royce & Associates LP increased its stake in AAC Holdings Inc (NYSE:AAC) by 20.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,862,185 shares of the company’s stock after acquiring an additional 320,019 shares during the period. Royce & Associates LP owned approximately 7.36% of AAC worth $3,426,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Two Sigma Investments LP acquired a new position in AAC in the 4th quarter worth approximately $49,000. Geode Capital Management LLC boosted its stake in AAC by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 110,394 shares of the company’s stock worth $154,000 after purchasing an additional 4,864 shares during the period. Assenagon Asset Management S.A. acquired a new position in AAC in the 4th quarter worth approximately $202,000. Bank of New York Mellon Corp boosted its stake in AAC by 47.0% in the 4th quarter. Bank of New York Mellon Corp now owns 175,579 shares of the company’s stock worth $246,000 after purchasing an additional 56,108 shares during the period. Finally, Bank of America Corp DE lifted its position in AAC by 1.3% in the 4th quarter. Bank of America Corp DE now owns 338,166 shares of the company’s stock worth $473,000 after buying an additional 4,345 shares in the last quarter. Institutional investors and hedge funds own 46.36% of the company’s stock.
In related news, insider Stephen Ebbett acquired 55,549 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were bought at an average cost of $0.80 per share, with a total value of $44,439.20. Following the completion of the transaction, the insider now directly owns 65,549 shares of the company’s stock, valued at $52,439.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 31.22% of the stock is owned by corporate insiders.
Shares of AAC stock opened at $0.79 on Wednesday. AAC Holdings Inc has a twelve month low of $0.78 and a twelve month high of $10.68. The stock has a market cap of $20.02 million, a PE ratio of -0.75 and a beta of 2.58. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 3.37.
AAC (NYSE:AAC) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.66). The firm had revenue of $55.37 million for the quarter, compared to analyst estimates of $75.16 million. AAC had a negative net margin of 26.42% and a negative return on equity of 39.45%. Research analysts forecast that AAC Holdings Inc will post -0.59 earnings per share for the current year.
AAC has been the subject of a number of research analyst reports. ValuEngine downgraded shares of AAC from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Zacks Investment Research downgraded shares of AAC from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 13th. Finally, Raymond James dropped their target price on shares of AAC from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th.
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AAC Company Profile
AAC Holdings, Inc provides inpatient and outpatient substance use treatment services for individuals with drug addiction, alcohol addiction, and co-occurring mental/behavioral health issues in the United States. Its therapy services include motivational interviewing, cognitive behavioral therapy, rational emotive behavior therapy, dialectical behavioral therapy, solution-focused therapy, eye movement desensitization and reprocessing, and systematic family intervention.
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