13.2% Stake of Genesis Healthcare, Inc. (NYSE:GEN) Owned by Onex Corp

Onex Corp

recently stated that they own a 13.2% stake in Genesis Healthcare, Inc. (NYSE:GEN) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission on Thursday, July 27th. The investor owns 11,757,791 shares of the stock valued at about $17,401,531. The reporting parties listed on the disclosure included Onex Corporation, Onex Partners LP, Onex US Principals LP, Onex Real Estate Holdings III Inc and Gerald W Schwartz. The disclosure is available through the SEC website at this link.

Onex Corp

provided the following explanation of their ownership:

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Other hedge funds have also added to or reduced their stakes in the company. TIAA CREF Investment Management LLC raised its stake in Genesis Healthcare by 50.1% in the first quarter. TIAA CREF Investment Management LLC now owns 223,085 shares of the company’s stock worth $589,000 after buying an additional 74,502 shares during the last quarter. Alliancebernstein L.P. raised its stake in Genesis Healthcare by 2.6% in the first quarter. Alliancebernstein L.P. now owns 83,126 shares of the company’s stock worth $219,000 after buying an additional 2,100 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Genesis Healthcare by 500.3% in the first quarter. JPMorgan Chase & Co. now owns 1,026,169 shares of the company’s stock worth $2,709,000 after buying an additional 855,240 shares during the last quarter. Oxford Asset Management raised its stake in Genesis Healthcare by 298.0% in the first quarter. Oxford Asset Management now owns 159,106 shares of the company’s stock worth $420,000 after buying an additional 119,134 shares during the last quarter. Finally, TFS Capital LLC raised its stake in Genesis Healthcare by 477.5% in the first quarter. TFS Capital LLC now owns 156,019 shares of the company’s stock worth $412,000 after buying an additional 129,001 shares during the last quarter. Institutional investors own 14.40% of the company’s stock.

Genesis Healthcare, Inc. (NYSE GEN) traded down 2.03% during trading on Thursday, hitting $1.45. 174,723 shares of the stock were exchanged. The firm’s market capitalization is $134.46 million. Genesis Healthcare, Inc. has a 12-month low of $1.44 and a 12-month high of $4.75. The stock has a 50 day moving average price of $1.67 and a 200-day moving average price of $2.64.

Genesis Healthcare (NYSE:GEN) last announced its quarterly earnings results on Tuesday, May 9th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.25. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.40 billion. Genesis Healthcare had a negative return on equity of 0.81% and a negative net margin of 1.27%. During the same period in the prior year, the business earned ($0.48) earnings per share. On average, equities research analysts anticipate that Genesis Healthcare, Inc. will post ($1.27) earnings per share for the current fiscal year.

A number of analysts have recently issued reports on the company. Cantor Fitzgerald assumed coverage on Genesis Healthcare in a report on Wednesday, July 5th. They issued an “overweight” rating for the company. ValuEngine raised shares of Genesis Healthcare from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 8th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $2.65.

Genesis Healthcare Company Profile

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.