Ritholtz Wealth Management Takes $460,000 Position in Select Medical Holdings Corporation (NYSE:SEM)

Ritholtz Wealth Management purchased a new stake in shares of Select Medical Holdings Corporation (NYSE:SEM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 27,552 shares of the health services provider's stock, valued at approximately $460,000.

A number of other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Select Medical by 172.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 16,579 shares of the health services provider's stock valued at $312,000 after acquiring an additional 10,491 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in Select Medical by 2.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 56,719 shares of the health services provider's stock valued at $1,069,000 after purchasing an additional 1,234 shares in the last quarter. Principal Financial Group Inc. lifted its position in Select Medical by 1.9% during the fourth quarter. Principal Financial Group Inc. now owns 2,403,508 shares of the health services provider's stock valued at $45,310,000 after purchasing an additional 45,685 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Select Medical by 122.8% in the 4th quarter. Sanctuary Advisors LLC now owns 52,175 shares of the health services provider's stock worth $1,035,000 after buying an additional 28,759 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Select Medical by 17.6% in the 4th quarter. New York State Common Retirement Fund now owns 47,244 shares of the health services provider's stock worth $891,000 after buying an additional 7,067 shares during the last quarter. Institutional investors own 89.48% of the company's stock.

Select Medical Trading Down 0.6%

Select Medical stock traded down $0.10 during midday trading on Friday, reaching $14.83. The stock had a trading volume of 1,972,688 shares, compared to its average volume of 972,158. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.87. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 0.79 and a beta of 1.34. Select Medical Holdings Corporation has a 52-week low of $14.03 and a 52-week high of $40.98. The company has a fifty day moving average of $15.56 and a 200 day moving average of $17.44.

Select Medical (NYSE:SEM - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The health services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). Select Medical had a return on equity of 11.04% and a net margin of 2.81%. The business had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. The company's quarterly revenue was down 24.4% compared to the same quarter last year. On average, analysts anticipate that Select Medical Holdings Corporation will post 1.17 earnings per share for the current fiscal year.

Select Medical announced that its board has authorized a share buyback program on Thursday, May 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the health services provider to repurchase up to 42.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Select Medical Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a dividend of $0.0625 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.25 annualized dividend and a dividend yield of 1.69%. Select Medical's dividend payout ratio (DPR) is 18.66%.

Insider Activity

In other news, Director Parvinderjit S. Khanuja bought 21,000 shares of the firm's stock in a transaction on Monday, May 5th. The stock was acquired at an average cost of $15.02 per share, with a total value of $315,420.00. Following the transaction, the director now directly owns 65,089 shares in the company, valued at approximately $977,636.78. This trade represents a 47.63% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David S. Chernow sold 225,000 shares of the 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 directly owns 714,516 shares in the company, valued at $12,861,288. The trade was a 23.95% decrease in their position. The disclosure for this sale can be found here. Insiders own 11.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Mizuho initiated coverage on shares of Select Medical in a report on Wednesday, April 16th. They issued an "outperform" rating and a $25.00 price target for the company. Royal Bank Of Canada lowered their price objective on Select Medical from $23.00 to $19.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Wall Street Zen raised Select Medical from a "hold" rating to a "buy" rating in a research report on Friday, February 21st. Finally, Benchmark upgraded Select Medical from a "hold" rating to a "buy" rating and set a $23.00 price target for the company in a research report on Monday, February 24th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Select Medical presently has an average rating of "Moderate Buy" and a consensus price target of $26.00.

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.