Bridgeway Capital Management LLC Takes Position in Select Medical Holdings Co. (NYSE:SEM)

Bridgeway Capital Management LLC purchased a new stake in Select Medical Holdings Co. (NYSE:SEM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 746,623 shares of the health services provider's stock, valued at approximately $14,074,000. Bridgeway Capital Management LLC owned about 0.58% of Select Medical at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Brevan Howard Capital Management LP increased its stake in shares of Select Medical by 100.4% during the fourth quarter. Brevan Howard Capital Management LP now owns 33,986 shares of the health services provider's stock worth $641,000 after acquiring an additional 17,028 shares during the period. Baird Financial Group Inc. increased its holdings in Select Medical by 11.6% in the fourth quarter. Baird Financial Group Inc. now owns 300,643 shares of the health services provider's stock valued at $5,667,000 after buying an additional 31,207 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Select Medical by 46.7% during the 4th quarter. Bank of America Corp DE now owns 1,192,578 shares of the health services provider's stock worth $22,480,000 after acquiring an additional 379,598 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Select Medical by 1,965.5% in the 4th quarter. BNP Paribas Financial Markets now owns 551,912 shares of the health services provider's stock valued at $10,404,000 after purchasing an additional 525,192 shares in the last quarter. Finally, AXA S.A. purchased a new stake in Select Medical during the fourth quarter worth $559,000. Institutional investors and hedge funds own 89.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Mizuho initiated coverage on Select Medical in a report on Wednesday, April 16th. They set an "outperform" rating and a $25.00 target price on the stock. Benchmark raised shares of Select Medical from a "hold" rating to a "buy" rating and set a $23.00 price objective for the company in a research note on Monday, February 24th. Royal Bank of Canada reduced their price target on shares of Select Medical from $23.00 to $19.00 and set an "outperform" rating on the stock in a research report on Wednesday. Finally, StockNews.com upgraded shares of Select Medical from a "hold" rating to a "buy" rating in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $26.00.

Select Medical Stock Performance

NYSE SEM traded up $0.22 during trading hours on Friday, hitting $14.91. The company had a trading volume of 1,816,907 shares, compared to its average volume of 881,757. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.37. Select Medical Holdings Co. has a fifty-two week low of $14.03 and a fifty-two week high of $40.98. The business has a fifty day simple moving average of $16.57 and a 200-day simple moving average of $21.09. The firm has a market cap of $1.92 billion, a P/E ratio of 9.04, a price-to-earnings-growth ratio of 0.64 and a beta of 1.40.

Select Medical (NYSE:SEM - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The health services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). Select Medical had a return on equity of 14.04% and a net margin of 3.23%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the firm posted $0.75 earnings per share. The business's quarterly revenue was down 24.4% on a year-over-year basis. Equities analysts predict that Select Medical Holdings Co. will post 1.17 EPS for the current year.

Select Medical Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Thursday, May 15th. Select Medical's dividend payout ratio is currently 18.66%.

Select Medical announced that its board has initiated a share buyback plan on Thursday, May 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the health services provider to buy up to 42.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Insider Activity at Select Medical

In other Select Medical news, CEO David S. Chernow sold 225,000 shares of the company's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $18.00, for a total value of $4,050,000.00. Following the transaction, the chief executive officer now owns 714,516 shares of the company's stock, valued at approximately $12,861,288. This represents a 23.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Parvinderjit S. Khanuja bought 21,000 shares of Select Medical stock in a transaction dated Monday, May 5th. The shares were bought at an average cost of $15.02 per share, with a total value of $315,420.00. Following the completion of the acquisition, the director now owns 65,089 shares of the company's stock, valued at $977,636.78. The trade was a 47.63 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 11.60% of the company's stock.

Select Medical Profile

Select Medical Holdings Corporation, through its subsidiaries, operates critical illness recovery hospitals, rehabilitation hospitals, outpatient rehabilitation clinics, and occupational health centers in the United States. It operates in four segments: Critical Illness Recovery Hospital, Rehabilitation Hospital, Outpatient Rehabilitation, and Concentra.