337,679 Shares in Sonida Senior Living, Inc. $SNDA Bought by Solas Capital Management LLC

Key Points

• Solas Capital Management acquired 337,679 Sonida Senior Living shares worth approximately $13.8 million, representing about 0.70% of the company and 7.4% of Solas’ portfolio. Institutional investors collectively own 87.55% of SNDA.
• Analyst sentiment is broadly positive: five analysts rate SNDA a Buy, two a Hold, and one a Sell, producing a “Moderate Buy” consensus and an average price target of $47.50.
• Sonida reported a quarterly loss of $0.52 per share, substantially missing the $0.09 consensus estimate, while revenue reached $207.65 million. Director Benjamin P. Harris also sold 6,269 shares at an average price of $39.79.

Solas Capital Management LLC acquired a new stake in Sonida Senior Living, Inc. (NYSE:SNDA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 337,679 shares of the company's stock, valued at approximately $13,777,000. Sonida Senior Living comprises approximately 7.4% of Solas Capital Management LLC's investment portfolio, making the stock its 4th biggest position. Solas Capital Management LLC owned about 0.70% of Sonida Senior Living as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SNDA. Family Wealth Partners LLC boosted its holdings in Sonida Senior Living by 7.6% during the second quarter. Family Wealth Partners LLC now owns 11,247 shares of the company's stock worth $459,000 after buying an additional 793 shares during the last quarter. FNY Investment Advisers LLC grew its position in shares of Sonida Senior Living by 28.6% during the 2nd quarter. FNY Investment Advisers LLC now owns 4,500 shares of the company's stock worth $183,000 after buying an additional 1,000 shares during the period. Allworth Financial LP bought a new stake in shares of Sonida Senior Living in the 2nd quarter valued at about $43,000. Capital Advisors Ltd. LLC bought a new stake in shares of Sonida Senior Living in the 1st quarter valued at about $45,000. Finally, Main Street Group LTD acquired a new stake in shares of Sonida Senior Living in the 1st quarter valued at approximately $50,000. Institutional investors own 87.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wall Street Zen raised shares of Sonida Senior Living from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Cantor Fitzgerald upped their target price on shares of Sonida Senior Living from $42.00 to $47.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. Citizens Jmp assumed coverage on shares of Sonida Senior Living in a report on Monday, July 27th. They issued an "outperform" rating and a $50.00 target price on the stock. Compass Point initiated coverage on shares of Sonida Senior Living in a research report on Tuesday, August 11th. They set a "buy" rating and a $65.00 price target on the stock. Finally, Citigroup initiated coverage on shares of Sonida Senior Living in a report on Monday, July 27th. They issued a "market outperform" rating for the company. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Sonida Senior Living has an average rating of "Moderate Buy" and an average price target of $47.50.

Insiders Place Their Bets

In other news, Director Benjamin P. Harris sold 6,269 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director owned 10,037 shares in the company, valued at $399,372.23. This represents a 38.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 39.30% of the company's stock.

Sonida Senior Living Price Performance

NYSE:SNDA opened at $39.37 on Tuesday. Sonida Senior Living, Inc. has a fifty-two week low of $24.94 and a fifty-two week high of $44.38. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $1.89 billion, a PE ratio of -6.36 and a beta of 0.80. The company's 50-day simple moving average is $39.76.

Sonida Senior Living (NYSE:SNDA - Get Free Report) last issued its quarterly earnings data 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). Sonida Senior Living had a negative net margin of 23.27% and a negative return on equity of 25.53%. The business had revenue of $207.65 million during the quarter. During the same period in the previous year, the company earned ($0.16) EPS. On average, research analysts expect that Sonida Senior Living, Inc. will post -1.72 earnings per share for the current year.

About Sonida Senior Living

Sonida Senior Living NYSE: SNDA is a publicly traded company that owns and operates senior living communities in the United States. The company’s core business centers on providing housing and care services for older adults, with an emphasis on assisted living, memory care and related supportive services tailored to residents’ needs.

Sonida’s communities combine residential accommodations with on-site services such as personal care assistance, medication management, dining programs, social and recreational activities, and clinical oversight.

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