Short Interest in SBC Medical Group Holdings Incorporated (NASDAQ:SBC) Grows By 66.6%

SBC Medical Group Holdings Incorporated (NASDAQ:SBC) was the recipient of a significant increase in short interest in July. As of July 15th, there was short interest totaling 914,813 shares, an increase of 66.6% from the June 30th total of 549,171 shares. Approximately 4.9% of the company’s stock are sold short. Based on an average daily volume of 93,798 shares, the days-to-cover ratio is presently 9.8 days.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SBC. Wall Street Zen upgraded SBC Medical Group to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings downgraded shares of SBC Medical Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp bought a new stake in SBC Medical Group in the 1st quarter valued at $43,000. Goldman Sachs Group Inc. bought a new position in SBC Medical Group during the fourth quarter worth $49,000. Russell Investments Group Ltd. boosted its position in SBC Medical Group by 292.0% during the fourth quarter. Russell Investments Group Ltd. now owns 11,775 shares of the company’s stock worth $51,000 after purchasing an additional 8,771 shares during the period. Nuveen LLC acquired a new position in shares of SBC Medical Group in the fourth quarter valued at $53,000. Finally, Wells Fargo & Company MN increased its holdings in shares of SBC Medical Group by 195.1% in the fourth quarter. Wells Fargo & Company MN now owns 12,626 shares of the company’s stock valued at $54,000 after purchasing an additional 8,348 shares during the last quarter. 60.82% of the stock is currently owned by institutional investors.

SBC Medical Group Trading Up 0.7%

Shares of NASDAQ:SBC opened at $3.06 on Friday. SBC Medical Group has a 52-week low of $2.78 and a 52-week high of $5.07. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.78 and a current ratio of 3.82. The company has a market capitalization of $313.89 million, a P/E ratio of 7.85 and a beta of 0.60. The company has a 50-day simple moving average of $3.07 and a 200 day simple moving average of $3.65.

SBC Medical Group (NASDAQ:SBC) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $43.06 million for the quarter, compared to the consensus estimate of $41.66 million. SBC Medical Group had a return on equity of 15.90% and a net margin of 24.09%. Sell-side analysts forecast that SBC Medical Group will post 0.47 earnings per share for the current year.

About SBC Medical Group

SBC Medical Group, Inc is a publicly traded healthcare management services company listed on the Nasdaq under the ticker SBC. The company specializes in supporting in-office ancillary service providers by offering a suite of administrative and operational solutions designed to streamline practice management and enhance revenue performance. Its core mission is to help physician practices, imaging centers and other ancillary service providers focus on patient care while outsourcing complex back-office functions.

The company’s primary offerings include revenue cycle management, medical billing and coding, compliance oversight and transcription services.