Dark Forest Capital Management LP Invests $384,000 in AdaptHealth Corp. (NASDAQ:AHCO)

Dark Forest Capital Management LP purchased a new position in shares of AdaptHealth Corp. (NASDAQ:AHCO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 38,370 shares of the company’s stock, valued at approximately $384,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Caxton Associates LP acquired a new stake in shares of AdaptHealth during the 2nd quarter worth approximately $383,000. Bank of Montreal Can raised its position in shares of AdaptHealth by 255.9% during the 2nd quarter. Bank of Montreal Can now owns 77,119 shares of the company’s stock worth $773,000 after purchasing an additional 55,448 shares during the period. Public Sector Pension Investment Board raised its position in shares of AdaptHealth by 1.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 171,877 shares of the company’s stock worth $1,719,000 after purchasing an additional 2,060 shares during the period. Sei Investments Co. raised its position in shares of AdaptHealth by 27.8% during the 2nd quarter. Sei Investments Co. now owns 262,475 shares of the company’s stock worth $2,625,000 after purchasing an additional 57,018 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of AdaptHealth during the 2nd quarter worth approximately $58,000. 82.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price objective on shares of AdaptHealth in a report on Monday, August 12th. One investment 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. According to MarketBeat.com, AdaptHealth presently has a consensus rating of “Hold” and an average target price of $10.70.

AdaptHealth Stock Performance

Shares of AHCO stock opened at $11.13 on Friday. AdaptHealth Corp. has a 12-month low of $6.37 and a 12-month high of $11.90. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -2.11, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. The business has a 50 day simple moving average of $10.73 and a 200 day simple moving average of $10.44. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.15 and a quick ratio of 0.94.

AdaptHealth (NASDAQ:AHCO) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The business had revenue of $805.98 million during the quarter, compared to the consensus estimate of $802.62 million. AdaptHealth had a positive return on equity of 9.58% and a negative net margin of 21.20%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company earned $0.16 earnings per share. On average, equities research analysts anticipate that AdaptHealth Corp. will post 0.87 EPS for the current year.

Insider Buying and Selling at AdaptHealth

In other AdaptHealth news, Director David Solomon Williams III sold 4,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $11.26, for a total transaction of $45,040.00. Following the completion of the transaction, the director now directly owns 36,899 shares of the company’s stock, valued at approximately $415,482.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other AdaptHealth news, Director David Solomon Williams III sold 4,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $11.26, for a total transaction of $45,040.00. Following the completion of the transaction, the director now directly owns 36,899 shares of the company’s stock, valued at approximately $415,482.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Shaw Rietkerk sold 25,000 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.24, for a total value of $281,000.00. Following the transaction, the chief operating officer now directly owns 212,611 shares of the company’s stock, valued at $2,389,747.64. The disclosure for this sale can be found here. 4.43% of the stock is currently owned by corporate insiders.

AdaptHealth Profile

AdaptHealth Corp., together with its subsidiaries, sells home medical equipment (HME), medical supplies, and home and related services in the United States. The company provides sleep therapy equipment, supplies, and related services, such as CPAP and bi-PAP services to individuals suffering from obstructive sleep apnea; medical devices and supplies, including continuous glucose monitors and insulin pumps for the treatment of diabetes; HME to patients discharged from acute care and other facilities; oxygen and related chronic therapy services in the home; and other HME devices and supplies on behalf of chronically ill patients with wound care, urological, incontinence, ostomy, and nutritional supply needs.