Fred Alger Management LLC Sells 367,179 Shares of Acadia Healthcare Company, Inc. (NASDAQ:ACHC)

Fred Alger Management LLC reduced its position in shares of Acadia Healthcare Company, Inc. (NASDAQ:ACHC) by 15.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,956,041 shares of the company’s stock after selling 367,179 shares during the period. Acadia Healthcare comprises about 0.8% of Fred Alger Management LLC’s investment portfolio, making the stock its 26th biggest position. Fred Alger Management LLC’s holdings in Acadia Healthcare were worth $141,324,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Verition Fund Management LLC lifted its holdings in Acadia Healthcare by 4.5% during the 4th quarter. Verition Fund Management LLC now owns 3,601 shares of the company’s stock valued at $296,000 after purchasing an additional 155 shares during the last quarter. Truist Financial Corp increased its position in Acadia Healthcare by 0.3% in the 4th quarter. Truist Financial Corp now owns 49,387 shares of the company’s stock valued at $4,066,000 after acquiring an additional 171 shares in the last quarter. Quadrant Capital Group LLC increased its position in Acadia Healthcare by 61.6% in the 4th quarter. Quadrant Capital Group LLC now owns 522 shares of the company’s stock valued at $43,000 after acquiring an additional 199 shares in the last quarter. Advisor Group Holdings Inc. increased its position in Acadia Healthcare by 1.5% in the 4th quarter. Advisor Group Holdings Inc. now owns 14,413 shares of the company’s stock valued at $1,186,000 after acquiring an additional 212 shares in the last quarter. Finally, Keybank National Association OH increased its position in Acadia Healthcare by 4.5% in the 1st quarter. Keybank National Association OH now owns 5,495 shares of the company’s stock valued at $397,000 after acquiring an additional 238 shares in the last quarter.

Acadia Healthcare Trading Down 0.9 %

Shares of NASDAQ:ACHC traded down $0.64 during trading on Tuesday, hitting $71.99. 61,683 shares of the company’s stock were exchanged, compared to its average volume of 584,475. The firm has a 50-day moving average price of $76.02 and a two-hundred day moving average price of $73.52. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.47. The firm has a market cap of $6.64 billion, a P/E ratio of 24.54, a PEG ratio of 1.88 and a beta of 1.32. Acadia Healthcare Company, Inc. has a 1-year low of $66.87 and a 1-year high of $89.85.

Acadia Healthcare (NASDAQ:ACHC) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09. Acadia Healthcare had a net margin of 9.74% and a return on equity of 10.27%. The firm had revenue of $731.34 million for the quarter, compared to the consensus estimate of $707.06 million. Equities analysts predict that Acadia Healthcare Company, Inc. will post 3.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

ACHC has been the subject of several research reports. Royal Bank of Canada raised their price objective on shares of Acadia Healthcare from $93.00 to $99.00 and gave the company an “outperform” rating in a research report on Monday, July 31st. StockNews.com began coverage on shares of Acadia Healthcare in a research report on Thursday, August 17th. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $87.38.

Acadia Healthcare Profile

Acadia Healthcare Company, Inc provides behavioral healthcare services in the United States and Puerto Rico. It offers behavioral healthcare services to its patients in various settings, including inpatient psychiatric facilities, specialty treatment facilities, residential treatment centers, eating disorder facilities, and outpatient clinics.