Shares of AAC Holdings Inc (NYSE:AAC) fell 7.6% on Thursday . The company traded as low as $0.50 and last traded at $0.62, 1,436,267 shares were traded during trading. An increase of 355% from the average session volume of 315,479 shares. The stock had previously closed at $0.67.
A number of research firms recently weighed in on AAC. ValuEngine lowered AAC from a “buy” rating to a “hold” rating in a report on Friday. Zacks Investment Research raised AAC from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 18th. Finally, Raymond James lowered AAC from an “outperform” rating to a “market perform” rating in a report on Tuesday.
The company has a debt-to-equity ratio of 3.37, a quick ratio of 0.17 and a current ratio of 0.17. The business has a fifty day simple moving average of $0.98 and a 200 day simple moving average of $1.65. The stock has a market capitalization of $20.66 million, a price-to-earnings ratio of -0.58 and a beta of 2.43.
In other news, Director Lucius E. Burch III acquired 51,003 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were purchased at an average cost of $0.81 per share, with a total value of $41,312.43. Following the acquisition, the director now directly owns 1,270,482 shares in the company, valued at approximately $1,029,090.42. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stephen Ebbett acquired 55,549 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was purchased at an average cost of $0.80 per share, for a total transaction of $44,439.20. Following the completion of the acquisition, the insider now owns 65,549 shares in the company, valued at $52,439.20. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 116,552 shares of company stock worth $99,252. Insiders own 31.22% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Two Sigma Investments LP acquired a new stake in shares of AAC during the 4th quarter worth $49,000. Paloma Partners Management Co acquired a new stake in shares of AAC during the 2nd quarter worth $51,000. Jane Street Group LLC acquired a new stake in shares of AAC during the 2nd quarter worth $55,000. Geode Capital Management LLC grew its holdings in shares of AAC by 4.6% during 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 in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of AAC by 47.0% during 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 in the last quarter. 40.64% of the stock is currently owned by hedge funds and other institutional investors.
AAC Company Profile (NYSE:AAC)
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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