AAC Holdings Inc (NYSE:AAC) Chairman Michael T. Cartwright sold 100,000 shares of AAC stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $11.78, for a total value of $1,178,000.00. Following the sale, the chairman now directly owns 2,719,099 shares in the company, valued at approximately $32,030,986.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
NYSE:AAC traded down $0.08 during midday trading on Thursday, hitting $11.59. 121,200 shares of the stock were exchanged, compared to its average volume of 148,622. AAC Holdings Inc has a one year low of $5.99 and a one year high of $13.06. The stock has a market cap of $287.63 million, a price-to-earnings ratio of 19.60 and a beta of 1.36. The company has a debt-to-equity ratio of 2.28, a current ratio of 2.57 and a quick ratio of 2.57.
AAC (NYSE:AAC) last announced its earnings results on Wednesday, May 2nd. The company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. AAC had a positive return on equity of 9.76% and a negative net margin of 6.25%. The firm had revenue of $78.50 million for the quarter, compared to analysts’ expectations of $75.92 million. During the same quarter in the previous year, the company earned $0.12 earnings per share. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. sell-side analysts expect that AAC Holdings Inc will post 0.79 EPS for the current year.
A number of large investors have recently made changes to their positions in the stock. Millennium Management LLC raised its holdings in AAC by 43.1% during the first quarter. Millennium Management LLC now owns 399,477 shares of the company’s stock worth $4,586,000 after purchasing an additional 120,373 shares in the last quarter. Hancock Holding Co. bought a new stake in AAC during the first quarter worth approximately $311,000. The Manufacturers Life Insurance Company raised its holdings in AAC by 234.9% during the first quarter. The Manufacturers Life Insurance Company now owns 10,724 shares of the company’s stock worth $123,000 after purchasing an additional 7,522 shares in the last quarter. Blair William & Co. IL raised its holdings in AAC by 16.6% during the first quarter. Blair William & Co. IL now owns 247,634 shares of the company’s stock worth $2,843,000 after purchasing an additional 35,190 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in AAC by 59.5% during the first quarter. Dimensional Fund Advisors LP now owns 51,884 shares of the company’s stock worth $596,000 after purchasing an additional 19,359 shares in the last quarter. 62.13% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on AAC. Cantor Fitzgerald reaffirmed a “buy” rating and set a $14.00 price target on shares of AAC in a report on Wednesday, May 2nd. Zacks Investment Research raised AAC from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Tuesday, March 13th. TheStreet cut AAC from a “c-” rating to a “d+” rating in a report on Thursday, February 22nd. Finally, ValuEngine raised AAC from a “hold” rating to a “buy” rating in a report on Friday, February 23rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $11.33.
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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