Genesis Healthcare Inc (NYSE:GEN)’s share price dropped 21.3% during mid-day trading on Thursday . The stock traded as low as $1.13 and last traded at $1.26. Approximately 2,559,504 shares traded hands during trading, an increase of 251% from the average daily volume of 729,275 shares. The stock had previously closed at $1.60.
The company has a debt-to-equity ratio of -0.22, a quick ratio of 0.18 and a current ratio of 0.18. The stock has a market cap of $240.86, a P/E ratio of -0.25 and a beta of 1.58.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. First Washington CORP increased its stake in Genesis Healthcare by 85.3% during the third quarter. First Washington CORP now owns 3,030,047 shares of the company’s stock valued at $3,515,000 after acquiring an additional 1,394,400 shares during the period. Prescott Group Capital Management L.L.C. bought a new position in Genesis Healthcare during the fourth quarter valued at about $1,726,000. V3 Capital Management L.P. increased its stake in Genesis Healthcare by 2.0% during the fourth quarter. V3 Capital Management L.P. now owns 2,261,899 shares of the company’s stock valued at $1,726,000 after acquiring an additional 44,500 shares during the period. JPMorgan Chase & Co. increased its stake in Genesis Healthcare by 31.7% during the third quarter. JPMorgan Chase & Co. now owns 1,564,379 shares of the company’s stock valued at $1,800,000 after acquiring an additional 376,279 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Genesis Healthcare by 40.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,194,100 shares of the company’s stock valued at $911,000 after acquiring an additional 346,400 shares during the period. Hedge funds and other institutional investors own 19.18% of the company’s stock.
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About Genesis Healthcare
Genesis Healthcare, Inc is a holding company that provides post-acute care. The Company operates through three segments: inpatient services, which includes the operation of skilled nursing facilities and assisted or senior living facilities; rehabilitation therapy services, which includes its integrated and third-party rehabilitation and respiratory therapy services, and all other services.
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