AAC Holdings, Inc. (NYSE:AAC) shot up NaN during trading on Thursday following a better than expected earnings announcement. The company traded as high as $10.97 and last traded at $0.00. 567,281 shares changed hands during trading, an increase of Infinity from the average session volume of 0 shares. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. The company had revenue of $80.42 million for the quarter, compared to analyst estimates of $74.49 million. AAC Holdings had a positive return on equity of 10.70% and a negative net margin of 1.55%. AAC Holdings’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 earnings per share.
A number of equities research analysts recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 price target (up from $11.00) on shares of AAC Holdings in a research report on Wednesday, September 13th. Zacks Investment Research lowered AAC Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $10.00.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. San Francisco Sentry Investment Group CA purchased a new stake in AAC Holdings in the 2nd quarter valued at $31,241,000. Mondrian Investment Partners LTD raised its position in AAC Holdings by 21.3% in the 2nd quarter. Mondrian Investment Partners LTD now owns 482,965 shares of the company’s stock valued at $3,347,000 after buying an additional 84,905 shares during the last quarter. State Street Corp raised its position in AAC Holdings by 7.4% in the 2nd quarter. State Street Corp now owns 164,658 shares of the company’s stock valued at $1,139,000 after buying an additional 11,338 shares during the last quarter. Northern Trust Corp raised its position in AAC Holdings by 4.6% in the 2nd quarter. Northern Trust Corp now owns 128,741 shares of the company’s stock valued at $893,000 after buying an additional 5,709 shares during the last quarter. Finally, Woodmont Investment Counsel LLC raised its position in AAC Holdings by 10.0% in the 2nd quarter. Woodmont Investment Counsel LLC now owns 45,226 shares of the company’s stock valued at $313,000 after buying an additional 4,130 shares during the last quarter. 63.96% of the stock is owned by institutional investors and hedge funds.
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AAC Holdings Company Profile
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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