Bank of America Corp DE Boosts Stake in AAC Holdings Inc (AAC)

Bank of America Corp DE raised its stake in shares of AAC Holdings Inc (NYSE:AAC) by 1.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 338,166 shares of the company’s stock after purchasing an additional 4,345 shares during the quarter. Bank of America Corp DE owned 1.37% of AAC worth $473,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of AAC. Two Sigma Investments LP bought a new stake in AAC in the fourth quarter valued at about $49,000. Geode Capital Management LLC boosted its position in AAC by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 110,394 shares of the company’s stock valued at $154,000 after buying an additional 4,864 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in AAC in the fourth quarter valued at about $202,000. Bank of New York Mellon Corp boosted its position in AAC by 47.0% in the fourth quarter. Bank of New York Mellon Corp now owns 175,579 shares of the company’s stock valued at $246,000 after buying an additional 56,108 shares in the last quarter. Finally, Empirical Capital Management LLC acquired a new position in AAC in the fourth quarter valued at about $402,000. Institutional investors own 46.97% of the company’s stock.

A number of equities analysts have commented on AAC shares. ValuEngine lowered shares of AAC from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 22nd. Zacks Investment Research lowered shares of AAC from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 13th. Finally, Raymond James reduced their price target on shares of AAC from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Thursday, April 18th.

NYSE:AAC opened at $1.28 on Wednesday. The stock has a market capitalization of $36.69 million, a price-to-earnings ratio of -1.21 and a beta of 2.30. AAC Holdings Inc has a 12 month low of $1.28 and a 12 month high of $12.32. The company has a current ratio of 0.17, a quick ratio of 0.18 and a debt-to-equity ratio of 3.37.

AAC (NYSE:AAC) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.79) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.66). The firm had revenue of $55.37 million during the quarter, compared to analyst estimates of $75.16 million. AAC had a negative net margin of 26.42% and a negative return on equity of 49.55%. Research analysts predict that AAC Holdings Inc will post -0.59 earnings per share for the current fiscal year.

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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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Institutional Ownership by Quarter for AAC (NYSE:AAC)

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