Insider Selling: AAC Holdings, Inc. (AAC) Chairman Sells $2,407,500.00 in Stock
AAC Holdings, Inc. (NYSE:AAC) Chairman Michael T. Cartwright sold 250,000 shares of the company’s stock in a transaction 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 transaction, the chairman now owns 2,880,490 shares in the company, valued at $27,739,118.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of AAC Holdings, Inc. (NYSE AAC) opened at $9.82 on Friday. The stock has a market capitalization of $243.82, a price-to-earnings ratio of 15.63 and a beta of 1.87. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 1.42. 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 quarterly earnings data on Wednesday, November 1st. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.07. The business had revenue of $80.42 million for the quarter, compared to analysts’ expectations of $74.49 million. AAC Holdings had a positive return on equity of 9.64% and a negative net margin of 0.42%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period last year, the firm earned $0.19 earnings per share. analysts anticipate that AAC Holdings, Inc. will post 0.54 EPS for the current year.
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A number of research analysts have commented on AAC shares. Cantor Fitzgerald restated an “overweight” rating and set a $14.00 price target (up from $11.00) on shares of AAC Holdings in a research note on Wednesday, September 13th. Zacks Investment Research cut AAC Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. UBS AG upgraded AAC Holdings from a “market perform” rating to an “outperform” rating in a research note on Friday, November 3rd. Finally, Raymond James Financial, Inc. upgraded AAC Holdings from a “mkt perform” rating to an “outperform” rating in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $10.00.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC raised its stake in shares of AAC Holdings by 15.8% in the third quarter. Sterling Capital Management LLC now owns 120,869 shares of the company’s stock valued at $1,200,000 after acquiring an additional 16,484 shares in the last quarter. Woodmont Investment Counsel LLC raised its stake in shares of AAC Holdings by 17.5% in the third quarter. Woodmont Investment Counsel LLC now owns 53,144 shares of the company’s stock valued at $528,000 after acquiring an additional 7,918 shares in the last quarter. Schwab Charles Investment Management Inc. acquired a new stake in shares of AAC Holdings in the third quarter valued at $456,000. EAM Investors LLC acquired a new stake in shares of AAC Holdings in the third quarter valued at $1,977,000. Finally, California State Teachers Retirement System raised its stake in shares of AAC Holdings by 1.5% in the second 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. Institutional investors and hedge funds own 63.65% of the company’s stock.
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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