AAC Holdings Inc (NYSE:AAC) Sees Significant Increase in Short Interest

AAC Holdings Inc (NYSE:AAC) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 4,915,900 shares, a growth of 25.7% from the April 30th total of 3,911,000 shares. Based on an average daily trading volume, of 299,600 shares, the days-to-cover ratio is presently 16.4 days. Currently, 34.9% of the shares of the stock are short sold.

In related news, insider Stephen Ebbett bought 55,549 shares of the stock in a transaction on Tuesday, June 11th. The shares were bought at an average cost of $0.80 per share, for a total transaction of $44,439.20. Following the completion of the transaction, the insider now owns 65,549 shares of the company’s stock, valued at approximately $52,439.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lucius E. Burch III purchased 51,003 shares of AAC stock in a transaction on Monday, June 10th. The stock was acquired at an average cost of $0.81 per share, for a total transaction of $41,312.43. Following the acquisition, the director now directly owns 1,270,482 shares of the company’s stock, valued at $1,029,090.42. The disclosure for this purchase can be found here. Insiders have acquired 116,552 shares of company stock worth $99,252 over the last 90 days. 31.22% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of AAC. Royce & Associates LP increased its position in shares of AAC by 20.8% in the first quarter. Royce & Associates LP now owns 1,862,185 shares of the company’s stock worth $3,426,000 after acquiring an additional 320,019 shares in the last quarter. Bank of America Corp DE grew its holdings in AAC by 1.3% during the 4th quarter. Bank of America Corp DE now owns 338,166 shares of the company’s stock valued at $473,000 after purchasing an additional 4,345 shares in the last quarter. Two Sigma Investments LP acquired a new stake in AAC during the 4th quarter valued at $49,000. Geode Capital Management LLC grew its holdings in AAC by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 110,394 shares of the company’s stock valued at $154,000 after purchasing an additional 4,864 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in AAC by 47.0% during the 4th quarter. Bank of New York Mellon Corp now owns 175,579 shares of the company’s stock valued at $246,000 after purchasing an additional 56,108 shares in the last quarter. 46.36% of the stock is currently owned by institutional investors.

Several analysts have issued reports on AAC shares. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Raymond James reissued an “average” rating and set a $10.50 price objective on shares of Hudbay Minerals in a research note on Thursday, April 18th. Finally, Zacks Investment Research raised shares of HAYS PLC/ADR from a “sell” rating to a “hold” rating in a research note on Tuesday, June 18th.

Shares of AAC traded up $0.03 on Thursday, hitting $1.27. 142,827 shares of the stock traded hands, compared to its average volume of 339,941. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 3.37. The stock has a market cap of $31.37 million, a price-to-earnings ratio of -1.20 and a beta of 2.42. The firm has a 50 day moving average price of $0.92. AAC has a 1 year low of $0.62 and a 1 year high of $10.68.

AAC (NYSE:AAC) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.79) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.66). The company had revenue of $55.37 million for the quarter, compared to analysts’ expectations of $75.16 million. AAC had a negative return on equity of 39.45% and a negative net margin of 26.42%. On average, sell-side analysts expect that AAC will post -0.59 earnings per share for the current fiscal year.

AAC Company Profile

AAC Holdings, Inc provides inpatient and outpatient substance use treatment services for individuals with drug addiction, alcohol addiction, and co-occurring mental/behavioral health issues in the United States. Its therapy services include motivational interviewing, cognitive behavioral therapy, rational emotive behavior therapy, dialectical behavioral therapy, solution-focused therapy, eye movement desensitization and reprocessing, and systematic family intervention.

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