Sonida Senior Living (NYSE:SNDA) Downgraded by Zacks Research to "Strong Sell"

Key Points

• Zacks Research downgraded Sonida Senior Living to “Strong Sell” from “Hold,” despite mixed analyst sentiment. The broader consensus remains “Hold,” with an average price target of $49.50.
• Sonida reported a significant quarterly earnings miss, posting an adjusted loss of $0.52 per share versus the expected $0.09 loss, while revenue totaled $207.65 million. Analysts expect a full-year loss of approximately $3.21 per share.
• Insiders sold substantial shares, including directors Michael Simanovsky and Benjamin Harris, while institutional ownership remains high at 87.55%; the stock opened at $36.02, below its 52-week high of $44.38.

Sonida Senior Living (NYSE:SNDA - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Monday, Zacks reports.

Other equities research analysts have also recently issued research reports about the stock. Compass Point started coverage on shares of Sonida Senior Living in a report on Tuesday, August 11th. They set a "buy" rating and a $65.00 target price on the stock. Royal Bank Of Canada upped their price target on Sonida Senior Living from $45.00 to $48.00 and gave the company an "outperform" rating in a research report on Monday, June 29th. Morgan Stanley boosted their price target on shares of Sonida Senior Living from $38.00 to $44.00 and gave the company an "equal weight" rating in a research report on Tuesday, September 1st. Weiss Ratings upgraded Sonida Senior Living from a "sell (d-)" rating to a "sell (d)" rating in a research report on Wednesday, July 29th. Finally, Citigroup initiated coverage on shares of Sonida Senior Living in a research report on Monday, July 27th. They set a "market outperform" rating for the company. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $49.50.

Sonida Senior Living Stock Performance

Shares of NYSE SNDA opened at $36.02 on Monday. The company has a market cap of $1.73 billion, a PE ratio of -5.82 and a beta of 0.74. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.88 and a current ratio of 0.88. Sonida Senior Living has a fifty-two week low of $24.94 and a fifty-two week high of $44.38. The company has a 50-day simple moving average of $38.52.

Sonida Senior Living (NYSE:SNDA - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.43). The company had revenue of $207.65 million for the quarter. Sonida Senior Living had a negative return on equity of 25.53% and a negative net margin of 23.27%. During the same period in the prior year, the business earned ($0.16) EPS. On average, sell-side analysts predict that Sonida Senior Living will post -3.21 EPS for the current year.

Insider Activity

In other Sonida Senior Living news, Director Michael Simanovsky sold 115,000 shares of the company's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $40.71, for a total transaction of $4,681,650.00. Following the transaction, the director owned 254,447 shares in the company, valued at approximately $10,358,537.37. This represents a 31.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Benjamin Harris sold 6,269 shares of the firm's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $39.79, for a total value of $249,443.51. Following the transaction, the director directly owned 10,037 shares of the company's stock, valued at $399,372.23. This represents a 38.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 275,343 shares of company stock worth $10,895,485 in the last quarter. 39.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sonida Senior Living

Several institutional investors have recently modified their holdings of SNDA. Conversant Capital LLC increased its stake in Sonida Senior Living by 57.7% in the 1st quarter. Conversant Capital LLC now owns 14,605,874 shares of the company's stock worth $471,039,000 after acquiring an additional 5,341,221 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Sonida Senior Living in the 2nd quarter worth approximately $90,515,000. Irenic Capital Management LP increased its position in shares of Sonida Senior Living by 56.1% during the 2nd quarter. Irenic Capital Management LP now owns 1,903,621 shares of the company's stock valued at $77,668,000 after purchasing an additional 683,874 shares during the last quarter. Adelante Capital Management LLC lifted its holdings in shares of Sonida Senior Living by 75.5% in the 2nd quarter. Adelante Capital Management LLC now owns 544,072 shares of the company's stock worth $15,637,000 after acquiring an additional 234,109 shares during the last quarter. Finally, J. Goldman & Co LP purchased a new position in shares of Sonida Senior Living during the 2nd quarter worth about $16,321,000. 87.55% of the stock is owned by hedge funds and other institutional investors.

Sonida Senior Living Company Profile

Sonida Senior Living NYSE: SNDA is a senior living company that owns, operates and manages communities serving older adults across the United States. Its communities provide residential care and support designed to promote independence, safety and quality of life for seniors.

The company offers a range of services, including independent living, assisted living and memory care. Services may include dining, housekeeping, transportation, wellness programs, social activities and assistance with daily living, with care tailored to residents' individual needs.

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