Castleark Management LLC Makes New Investment in Brookdale Senior Living Inc. $BKD

Key Points

• Castleark Management LLC acquired 598,454 Brookdale Senior Living shares worth approximately $8.2 million, representing about 0.25% of the company.
• Several other institutional investors increased their BKD positions substantially, including Arrowstreet Capital, Luxor Capital Group and Healthcare of Ontario Pension Plan Trust Fund.
• Brookdale missed quarterly expectations, reporting a loss of $0.03 per share versus an expected loss of $0.02 and revenue of $764.86 million versus estimates of $771.16 million. Analysts nevertheless maintain a “Moderate Buy” consensus with a $17.60 target price.

Castleark Management LLC purchased a new stake in shares of Brookdale Senior Living Inc. (NYSE:BKD - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 598,454 shares of the company's stock, valued at approximately $8,187,000. Castleark Management LLC owned approximately 0.25% of Brookdale Senior Living as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of BKD. Sculptor Capital LP lifted its holdings in shares of Brookdale Senior Living by 48.3% in the first quarter. Sculptor Capital LP now owns 1,780,000 shares of the company's stock valued at $24,350,000 after buying an additional 580,000 shares during the period. Luxor Capital Group LP grew its holdings in Brookdale Senior Living by 154.7% during the first quarter. Luxor Capital Group LP now owns 2,929,492 shares of the company's stock worth $40,075,000 after acquiring an additional 1,779,492 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in Brookdale Senior Living by 183.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,104,052 shares of the company's stock worth $15,103,000 after acquiring an additional 714,452 shares in the last quarter. Renaissance Technologies LLC raised its position in Brookdale Senior Living by 20.4% in the first quarter. Renaissance Technologies LLC now owns 7,663,564 shares of the company's stock worth $104,838,000 after acquiring an additional 1,300,100 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Brookdale Senior Living by 608.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,766,809 shares of the company's stock valued at $24,170,000 after acquiring an additional 1,517,260 shares during the last quarter.

Brookdale Senior Living Stock Down 0.1%

NYSE:BKD opened at $15.13 on Monday. Brookdale Senior Living Inc. has a 1-year low of $6.99 and a 1-year high of $17.09. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of -17.60 and a beta of 0.58. The stock has a fifty day simple moving average of $14.04 and a 200 day simple moving average of $13.99.

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 the consensus estimate of ($0.02) by ($0.01). Brookdale Senior Living had a negative return on equity of 15,050.32% and a negative net margin of 6.51%.The company had revenue of $764.86 million for the quarter, compared to analyst estimates of $771.16 million. Equities analysts predict that Brookdale Senior Living Inc. will post -0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

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