Fred Alger Management LLC Decreases Position in Acadia Healthcare Company, Inc. (NASDAQ:ACHC)

Fred Alger Management LLC cut its position in Acadia Healthcare Company, Inc. (NASDAQ:ACHC) by 97.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 24,116 shares of the company’s stock after selling 1,148,363 shares during the period. Fred Alger Management LLC’s holdings in Acadia Healthcare were worth $1,629,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Rhenman & Partners Asset Management AB purchased a new position in Acadia Healthcare in the fourth quarter worth about $1,448,000. Harbor Capital Advisors Inc. purchased a new position in shares of Acadia Healthcare during the second quarter valued at approximately $800,000. TCW Group Inc. raised its holdings in shares of Acadia Healthcare by 63.8% during the second quarter. TCW Group Inc. now owns 62,888 shares of the company’s stock valued at $4,247,000 after purchasing an additional 24,487 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Acadia Healthcare by 435.6% during the second quarter. SG Americas Securities LLC now owns 18,227 shares of the company’s stock valued at $1,231,000 after purchasing an additional 14,824 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Acadia Healthcare by 19.4% during the second quarter. Principal Financial Group Inc. now owns 643,521 shares of the company’s stock valued at $43,463,000 after purchasing an additional 104,359 shares during the last quarter.

Acadia Healthcare Stock Down 16.4 %

Shares of ACHC stock opened at $63.28 on Friday. Acadia Healthcare Company, Inc. has a 12 month low of $53.22 and a 12 month high of $87.77. The stock has a market cap of $5.87 billion, a P/E ratio of -452.00, a P/E/G ratio of 2.19 and a beta of 1.30. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.60. The company has a 50 day simple moving average of $74.23 and a two-hundred day simple moving average of $71.72.

Acadia Healthcare (NASDAQ:ACHC) last announced its earnings results on Wednesday, July 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $796.00 million during the quarter, compared to analysts’ expectations of $784.38 million. Acadia Healthcare had a negative net margin of 0.17% and a positive return on equity of 11.42%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.92 earnings per share. On average, research analysts expect that Acadia Healthcare Company, Inc. will post 3.51 earnings per share for the current year.

Analyst Ratings Changes

ACHC has been the subject of several research reports. Cantor Fitzgerald reissued a “neutral” rating and set a $90.00 price objective on shares of Acadia Healthcare in a report on Monday, August 19th. Barclays decreased their price objective on shares of Acadia Healthcare from $89.00 to $83.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and set a $94.00 price objective on shares of Acadia Healthcare in a report on Friday, September 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Acadia Healthcare from $70.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.44.

Acadia Healthcare Profile

Acadia Healthcare Company, Inc provides behavioral healthcare services in the United States and Puerto Rico. The company develops and operates acute inpatient psychiatric facilities, specialty treatment facilities comprising residential recovery facilities and eating disorder facilities, comprehensive treatment centers, and residential treatment centers, as well as facilities offering outpatient behavioral healthcare services for the behavioral healthcare and recovery needs of communities.