Emmett Investment Management LP Purchases 23,990 Shares of Sonida Senior Living, Inc. $SNDA

Key Points

• Emmett Investment Management increased its Sonida Senior Living stake by 11.4%, purchasing 23,990 shares to own 234,824 shares valued at approximately $7.5 million. Institutional investors and hedge funds collectively own 87.55% of SNDA.
• Analyst sentiment is mixed but improving, with Citizens JMP and Citigroup initiating bullish coverage and the consensus price target rising to $43.00; the average rating remains “Hold.”
• Sonida reported a quarterly loss of $2.39 per share, missing the $1.67 consensus estimate, on revenue of $122.63 million. The company has negative net margins and return on equity, while its stock recently traded near its 52-week high at $42.95.

Emmett Investment Management LP increased its position in shares of Sonida Senior Living, Inc. (NYSE:SNDA - Free Report) by 11.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 234,824 shares of the company's stock after purchasing an additional 23,990 shares during the quarter. Sonida Senior Living makes up approximately 5.8% of Emmett Investment Management LP's investment portfolio, making the stock its 5th largest position. Emmett Investment Management LP owned about 0.50% of Sonida Senior Living worth $7,538,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Conversant Capital LLC boosted its stake in Sonida Senior Living by 57.7% during the 1st quarter. Conversant Capital LLC now owns 14,605,874 shares of the company's stock worth $471,039,000 after purchasing an additional 5,341,221 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Sonida Senior Living in the first quarter worth about $1,998,000. Cetera Investment Advisers purchased a new position in shares of Sonida Senior Living in the first quarter worth about $1,090,000. Kestra Advisory Services LLC purchased a new position in shares of Sonida Senior Living in the first quarter worth about $1,036,000. Finally, Eversept Partners LP acquired a new position in Sonida Senior Living during the first quarter worth about $917,000. 87.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SNDA has been the subject of several research reports. Robert W. Baird upped their price objective on shares of Sonida Senior Living from $35.00 to $37.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. Weiss Ratings lowered shares of Sonida Senior Living from a "sell (d)" rating to a "sell (d-)" rating in a research note on Tuesday, July 14th. Morgan Stanley boosted their target price on Sonida Senior Living from $31.00 to $38.00 and gave the stock an "equal weight" rating in a report on Friday, May 29th. Citizens Jmp started coverage on Sonida Senior Living in a research report on Monday. They issued an "outperform" rating and a $50.00 price target for the company. Finally, Citigroup initiated coverage on Sonida Senior Living in a report on Monday. They issued a "market outperform" rating for the company. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $43.00.

Sonida Senior Living Price Performance

NYSE:SNDA opened at $42.95 on Tuesday. The company has a 50-day moving average price of $37.92. Sonida Senior Living, Inc. has a 1-year low of $23.78 and a 1-year high of $44.39. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 1.58. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of -7.37 and a beta of 0.75.

Sonida Senior Living (NYSE:SNDA - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported ($2.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.67) by ($0.72). The firm had revenue of $122.63 million for the quarter. Sonida Senior Living had a negative return on equity of 36.98% and a negative net margin of 24.15%. As a group, equities analysts anticipate that Sonida Senior Living, Inc. will post -1.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Benjamin P. Harris sold 2,500 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $37.46, for a total value of $93,650.00. Following the completion of the transaction, the director directly owned 9,182 shares in the company, valued at approximately $343,957.72. This represents a 21.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 39.30% of the company's stock.

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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