Mackenzie Financial Corp Has $1.25 Million Stock Position in Select Medical Holdings Co. (NYSE:SEM)

Mackenzie Financial Corp increased its holdings in shares of Select Medical Holdings Co. (NYSE:SEM - Free Report) by 726.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 66,497 shares of the health services provider's stock after purchasing an additional 58,449 shares during the period. Mackenzie Financial Corp owned 0.05% of Select Medical worth $1,253,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Neo Ivy Capital Management lifted its holdings in shares of Select Medical by 342,890.0% in the fourth quarter. Neo Ivy Capital Management now owns 34,299 shares of the health services provider's stock worth $646,000 after acquiring an additional 34,289 shares during the last quarter. PharVision Advisers LLC purchased a new position in shares of Select Medical during the fourth quarter valued at approximately $685,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Select Medical by 18.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 313,639 shares of the health services provider's stock valued at $5,912,000 after acquiring an additional 49,281 shares in the last quarter. Squarepoint Ops LLC increased its stake in shares of Select Medical by 460.3% during the 4th quarter. Squarepoint Ops LLC now owns 242,756 shares of the health services provider's stock worth $4,576,000 after purchasing an additional 199,429 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Select Medical by 44.5% during the fourth quarter. ProShare Advisors LLC now owns 32,551 shares of the health services provider's stock valued at $614,000 after buying an additional 10,024 shares during the period. Institutional investors and hedge funds own 89.48% of the company's stock.

Insider Activity

In related news, CEO David S. Chernow sold 225,000 shares of the company's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $18.00, for a total value of $4,050,000.00. Following the completion of the sale, the chief executive officer now owns 714,516 shares of the company's stock, valued at $12,861,288. This represents a 23.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Parvinderjit S. Khanuja bought 21,000 shares of Select Medical stock in a transaction that occurred on Monday, May 5th. The shares were acquired at an average price of $15.02 per share, with a total value of $315,420.00. Following the completion of the acquisition, the director now directly owns 65,089 shares of the company's stock, valued at $977,636.78. This represents a 47.63% increase in their position. The disclosure for this purchase can be found here. Company insiders own 11.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SEM shares. Mizuho started coverage on shares of Select Medical in a research note on Wednesday, April 16th. They issued an "outperform" rating and a $25.00 price objective for the company. Royal Bank of Canada decreased their price objective on Select Medical from $23.00 to $19.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Benchmark upgraded Select Medical from a "hold" rating to a "buy" rating and set a $23.00 price objective for the company in a research note on Monday, February 24th. Finally, Wall Street Zen upgraded shares of Select Medical from a "hold" rating to a "buy" rating in a report on Friday, February 21st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $26.00.

Select Medical Price Performance

Shares of NYSE:SEM traded down $0.05 during trading on Wednesday, reaching $15.26. The stock had a trading volume of 900,791 shares, compared to its average volume of 934,012. The stock has a market cap of $1.96 billion, a PE ratio of 9.25, a PEG ratio of 0.64 and a beta of 1.40. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.13 and a current ratio of 1.13. Select Medical Holdings Co. has a 1-year low of $14.03 and a 1-year high of $40.98. The business has a fifty day moving average price of $15.84 and a 200-day moving average price of $18.61.

Select Medical (NYSE:SEM - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The health services provider reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.01). The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.40 billion. Select Medical had a net margin of 3.23% and a return on equity of 14.04%. The company's revenue was down 24.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 earnings per share. On average, equities analysts forecast that Select Medical Holdings Co. will post 1.17 earnings per share for the current fiscal year.

Select Medical declared that its Board of Directors has approved a share buyback plan on Thursday, May 1st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the health services provider to buy up to 42.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

Select Medical Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Thursday, May 15th. Select Medical's dividend payout ratio is presently 18.66%.

Select Medical Company Profile

Select Medical Holdings Corporation, through its subsidiaries, operates critical illness recovery hospitals, rehabilitation hospitals, outpatient rehabilitation clinics, and occupational health centers in the United States. It operates in four segments: Critical Illness Recovery Hospital, Rehabilitation Hospital, Outpatient Rehabilitation, and Concentra.