AAC Holdings, Inc. (NYSE:AAC) Stake Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in AAC Holdings, Inc. (NYSE:AAC) by 8.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 184,941 shares of the company’s stock after selling 17,248 shares during the period. Bank of New York Mellon Corp owned 0.78% of AAC Holdings worth $1,577,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Nationwide Fund Advisors increased its stake in shares of AAC Holdings by 168.0% in the first quarter. Nationwide Fund Advisors now owns 15,903 shares of the company’s stock worth $136,000 after buying an additional 9,968 shares during the last quarter. Tudor Investment Corp Et Al acquired a new stake in shares of AAC Holdings during the fourth quarter worth $160,000. Finally, Highbridge Capital Management LLC acquired a new stake in shares of AAC Holdings during the fourth quarter worth $180,000. Hedge funds and other institutional investors own 48.04% of the company’s stock.

Shares of AAC Holdings, Inc. (NYSE AAC) opened at 6.75 on Monday. The firm’s market capitalization is $162.48 million. The firm’s 50-day moving average price is $6.66 and its 200-day moving average price is $7.56. AAC Holdings, Inc. has a one year low of $5.99 and a one year high of $24.38.

AAC Holdings (NYSE:AAC) last issued its quarterly earnings data on Thursday, May 4th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.05 by $0.07. The firm had revenue of $73.04 million during the quarter, compared to the consensus estimate of $71.06 million. AAC Holdings had a negative net margin of 0.62% and a positive return on equity of 9.40%. On average, equities analysts forecast that AAC Holdings, Inc. will post $0.54 earnings per share for the current year.

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A number of analysts have weighed in on the company. Zacks Investment Research downgraded AAC Holdings from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Mizuho decreased their price target on AAC Holdings from $9.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the stock. AAC Holdings has an average rating of “Hold” and an average price target of $21.33.

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.