BlackRock Inc. Buys New Position in Sonida Senior Living, Inc. $SNDA

Key Points

• BlackRock initiated a significant position in Sonida Senior Living, purchasing 2.22 million shares valued at approximately $90.5 million, or 4.68% of the company. Institutional investors and hedge funds collectively own 87.55% of SNDA.
• Analysts maintain a generally positive outlook, with five Buy, two Hold and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $47.50.
• SNDA shares opened at $37.53 after a 3.8% decline, while the company reported a quarterly loss of $0.52 per share—well below the $0.09 consensus estimate. Company insiders also sold 151,355 shares worth approximately $6.1 million over the last quarter.

BlackRock Inc. bought a new stake in Sonida Senior Living, Inc. (NYSE:SNDA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,218,503 shares of the company's stock, valued at approximately $90,515,000. BlackRock Inc. owned approximately 4.68% of Sonida Senior Living as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Royal Bank of Canada lifted its position in Sonida Senior Living by 3,450.0% during the 1st quarter. Royal Bank of Canada now owns 27,051 shares of the company's stock worth $873,000 after buying an additional 26,289 shares in the last quarter. Irenic Capital Management LP raised its holdings in Sonida Senior Living by 1,049.3% during the first quarter. Irenic Capital Management LP now owns 1,219,747 shares of the company's stock worth $39,337,000 after acquiring an additional 1,113,622 shares in the last quarter. Rush Island Management LP bought a new stake in Sonida Senior Living during the first quarter worth about $7,036,000. Cetera Investment Advisers acquired a new position in Sonida Senior Living during the first quarter valued at approximately $1,090,000. Finally, Conversant Capital LLC boosted its position in Sonida Senior Living by 57.7% during the first quarter. Conversant Capital LLC now owns 14,605,874 shares of the company's stock valued at $471,039,000 after purchasing an additional 5,341,221 shares during the last quarter. Institutional investors and hedge funds own 87.55% of the company's stock.

Wall Street Analysts Forecast Growth

SNDA has been the topic of several recent analyst reports. Cantor Fitzgerald boosted their price target on Sonida Senior Living from $42.00 to $47.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Compass Point began coverage on Sonida Senior Living in a report on Tuesday, August 11th. They issued a "buy" rating and a $65.00 price objective for the company. Citigroup assumed coverage on shares of Sonida Senior Living in a research note on Monday, July 27th. They issued a "market outperform" rating for the company. Citizens Jmp began coverage on shares of Sonida Senior Living in a report on Monday, July 27th. They set an "outperform" rating and a $50.00 target price on the stock. Finally, Morgan Stanley upped their price target on shares of Sonida Senior Living from $31.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Friday, May 29th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Sonida Senior Living has an average rating of "Moderate Buy" and a consensus target price of $47.50.

Insider Activity at Sonida Senior Living

In related news, Director Benjamin P. Harris sold 6,269 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $39.79, for a total transaction of $249,443.51. Following the sale, the director owned 10,037 shares of the company's stock, valued at $399,372.23. This represents a 38.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael Simanovsky sold 15,000 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $39.00, for a total value of $585,000.00. Following the transaction, the director owned 224,361 shares in the company, valued at approximately $8,750,079. This trade represents a 6.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 151,355 shares of company stock valued at $6,133,714. 39.30% of the stock is currently owned by corporate insiders.

Sonida Senior Living Stock Down 3.8%

SNDA opened at $37.53 on Friday. Sonida Senior Living, Inc. has a 12-month low of $24.94 and a 12-month high of $44.38. The firm has a market capitalization of $1.80 billion, a PE ratio of -6.06 and a beta of 0.80. The company has a 50 day simple moving average of $40.08. 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 (NYSE:SNDA - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.43). The company had revenue of $207.65 million during the quarter. Sonida Senior Living had a negative net margin of 23.27% and a negative return on equity of 25.53%. During the same quarter in the previous year, the firm earned ($0.16) earnings per share. As a group, analysts expect that Sonida Senior Living, Inc. will post -1.72 earnings per share for the current year.

Sonida Senior Living Company Profile

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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