Arrowstreet Capital Limited Partnership Grows Position in Brookdale Senior Living Inc. $BKD

Key Points

• Arrowstreet Capital increased its Brookdale Senior Living position by 608% in the first quarter, acquiring 1.52 million additional shares to hold 1.77 million shares, or 0.74% of BKD.
• Brookdale reported a quarterly loss of $0.03 per share, missing estimates by $0.01, while revenue of $764.86 million also fell short of expectations. Analysts project a full-year loss of $0.10 per share.
• BKD shares opened at $14.83, versus a consensus analyst price target of $17.60; overall analyst sentiment remains a “Moderate Buy,” though ratings range from Strong Buy to Sell.

Arrowstreet Capital Limited Partnership grew its position in Brookdale Senior Living Inc. (NYSE:BKD - Free Report) by 608.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,766,809 shares of the company's stock after acquiring an additional 1,517,260 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.74% of Brookdale Senior Living worth $24,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Osaic Holdings Inc. lifted its position in Brookdale Senior Living by 7.1% during the second quarter. Osaic Holdings Inc. now owns 20,177 shares of the company's stock valued at $140,000 after purchasing an additional 1,331 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Brookdale Senior Living by 5.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 38,801 shares of the company's stock worth $531,000 after buying an additional 2,160 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Brookdale Senior Living by 44,583.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,681 shares of the company's stock worth $29,000 after buying an additional 2,675 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Brookdale Senior Living by 4.6% during the 4th quarter. Mackenzie Financial Corp now owns 63,893 shares of the company's stock valued at $686,000 after buying an additional 2,811 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Brookdale Senior Living by 8.3% during the 4th quarter. ProShare Advisors LLC now owns 42,523 shares of the company's stock valued at $459,000 after buying an additional 3,264 shares in the last quarter.

Brookdale Senior Living Price Performance

Shares of NYSE:BKD opened at $14.83 on Thursday. The firm has a market capitalization of $3.54 billion, a PE ratio of -17.24 and a beta of 0.58. The business has a 50 day simple moving average of $14.16 and a two-hundred day simple moving average of $14.08. Brookdale Senior Living Inc. has a 1 year low of $6.99 and a 1 year high of $17.09.

Brookdale Senior Living (NYSE:BKD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). The business had revenue of $764.86 million for the quarter, compared to analysts' expectations of $771.16 million. Brookdale Senior Living had a negative net margin of 6.51% and a negative return on equity of 15,050.32%. Equities research analysts expect that Brookdale Senior Living Inc. will post -0.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BKD. Zacks Research downgraded shares of Brookdale Senior Living from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 21st. Weiss Ratings cut Brookdale Senior Living from a "sell (d)" rating to a "sell (d-)" rating in a research note on Wednesday, May 27th. Stephens started coverage on Brookdale Senior Living in a research report on Thursday, April 9th. They set an "overweight" rating and a $18.00 price objective on the stock. Finally, Compass Point initiated coverage on Brookdale Senior Living in a research note on Monday, June 15th. They issued a "buy" rating and a $22.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Brookdale Senior Living has a consensus rating of "Moderate Buy" and an average price target of $17.60.

About Brookdale Senior Living

Brookdale Senior Living Inc NYSE: BKD is one of the nation's largest operators of senior living communities, offering a full spectrum of living options that includes independent living, assisted living, memory care, continuing care retirement communities, respite care and skilled nursing services. The company emphasizes programs and amenities that support wellness, social engagement and overall quality of life for older adults.

Across the United States and Puerto Rico, Brookdale manages more than 700 communities serving tens of thousands of residents.

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