Brookdale Senior Living Inc. $BKD Stock Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Brookdale Senior Living stake by 1,268.9% in the third quarter, adding 1.22 million shares to own 1.32 million shares, or 0.55% of BKD.
• Analyst sentiment was generally positive: MarketBeat reported a consensus “Buy” rating and an average price target of $17.40, despite mixed views ranging from “strong buy” to “sell.”
• BKD opened at $9.86, down 2.3%, and remained below its 50-day and 200-day moving averages. The company beat quarterly EPS expectations at $0.10 but reported revenue of $718.58 million, below the $735.63 million consensus estimate.

Assenagon Asset Management S.A. grew its stake in Brookdale Senior Living Inc. (NYSE:BKD - Free Report) by 1,268.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,315,247 shares of the company's stock after acquiring an additional 1,219,166 shares during the quarter. Assenagon Asset Management S.A. owned 0.55% of Brookdale Senior Living worth $14,244,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in Brookdale Senior Living by 86.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,689 shares of the company's stock worth $43,000 after acquiring an additional 1,244 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Brookdale Senior Living by 1.3% during the first quarter. The Manufacturers Life Insurance Company now owns 109,632 shares of the company's stock worth $1,500,000 after purchasing an additional 1,436 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of Brookdale Senior Living by 4.5% during the 1st quarter. Quantinno Capital Management LP now owns 48,383 shares of the company's stock valued at $662,000 after purchasing an additional 2,095 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Brookdale Senior Living by 5.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 38,801 shares of the company's stock valued at $531,000 after purchasing an additional 2,160 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Brookdale Senior Living in the 2nd quarter valued at approximately $53,000.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BKD shares. Barclays lowered their target price on Brookdale Senior Living from $18.00 to $17.00 and set an "overweight" rating for the company in a research note on Tuesday, August 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Brookdale Senior Living in a research note on Monday, August 24th. Finally, Zacks Research upgraded shares of Brookdale Senior Living from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Brookdale Senior Living presently has a consensus rating of "Buy" and an average price target of $17.40.

Brookdale Senior Living Trading Down 2.3%

BKD opened at $9.86 on Tuesday. The business's 50-day simple moving average is $11.48 and its 200 day simple moving average is $13.10. Brookdale Senior Living Inc. has a 52-week low of $8.02 and a 52-week high of $17.09.

Brookdale Senior Living (NYSE:BKD - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.16. The company had revenue of $718.58 million for the quarter, compared to analysts' expectations of $735.63 million. Brookdale Senior Living had a negative return on equity of 15,050.32% and a negative net margin of 4.53%. As a group, research analysts predict that Brookdale Senior Living Inc. will post 0.06 earnings per share for the current year.

About Brookdale Senior Living

Brookdale Senior Living Inc NYSE: BKD is a U.S.-based senior living company that owns, manages and operates communities designed for older adults. Its offerings include independent living, assisted living, memory care and continuing care services, allowing residents to receive different levels of support as their needs change.

The company provides housing and daily living services alongside dining, wellness, social and recreational programs, transportation and care coordination. Through its ancillary services, Brookdale also offers certain home health, hospice and therapy services to residents and other older adults.

Brookdale serves communities across the United States.

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