Envestnet Asset Management Inc. Decreases Holdings in Acadia Healthcare Company, Inc. (NASDAQ:ACHC)

Envestnet Asset Management Inc. trimmed its holdings in shares of Acadia Healthcare Company, Inc. (NASDAQ:ACHC) by 81.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,680 shares of the company’s stock after selling 374,271 shares during the period. Envestnet Asset Management Inc. owned 0.10% of Acadia Healthcare worth $6,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of ACHC. Point72 Hong Kong Ltd purchased a new stake in Acadia Healthcare during the 1st quarter worth about $38,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Acadia Healthcare in the 2nd quarter valued at about $48,000. Belpointe Asset Management LLC lifted its holdings in shares of Acadia Healthcare by 75.7% in the 1st quarter. Belpointe Asset Management LLC now owns 982 shares of the company’s stock valued at $71,000 after purchasing an additional 423 shares during the last quarter. Bessemer Group Inc. purchased a new stake in shares of Acadia Healthcare in the 4th quarter valued at about $170,000. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Acadia Healthcare in the 4th quarter valued at about $206,000.

Wall Street Analyst Weigh In

ACHC has been the subject of several research reports. Cantor Fitzgerald boosted their target price on Acadia Healthcare from $83.00 to $85.00 and gave the company a “neutral” rating in a report on Thursday, September 14th. TheStreet downgraded Acadia Healthcare from a “b” rating to a “c” rating in a report on Friday, November 3rd. StockNews.com assumed coverage on Acadia Healthcare in a report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Royal Bank of Canada dropped their price target on Acadia Healthcare from $99.00 to $94.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $85.71.

Acadia Healthcare Stock Performance

Shares of ACHC stock opened at $72.71 on Friday. The stock has a market capitalization of $6.71 billion, a PE ratio of -346.24, a price-to-earnings-growth ratio of 1.97 and a beta of 1.44. Acadia Healthcare Company, Inc. has a 52-week low of $66.49 and a 52-week high of $89.85. The stock’s 50-day moving average price is $72.41 and its 200 day moving average price is $73.46. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.50.

Insiders Place Their Bets

In other Acadia Healthcare news, EVP John S. Hollinsworth sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $74.50, for a total transaction of $931,250.00. Following the transaction, the executive vice president now owns 197,130 shares in the company, valued at approximately $14,686,185. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Acadia Healthcare news, EVP John S. Hollinsworth sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $74.50, for a total transaction of $931,250.00. Following the transaction, the executive vice president now owns 197,130 shares in the company, valued at approximately $14,686,185. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Debra K. Osteen sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $74.21, for a total value of $1,113,150.00. Following the transaction, the director now owns 718,833 shares in the company, valued at approximately $53,344,596.93. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,000 shares of company stock worth $10,350,325. Company insiders own 2.80% of the company’s stock.

About Acadia Healthcare

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.