Manatuck Hill Partners LLC Invests $12.56 Million in National HealthCare Corporation $NHC

Key Points

• Manatuck Hill Partners acquired 59,428 shares of National HealthCare, valued at approximately $12.56 million. The investment represents 4.2% of the fund’s portfolio and about 0.38% of NHC’s outstanding shares.
• National HealthCare reported quarterly revenue of $408.03 million and earnings of $1.74 per share, with a 9.0% net margin. The company also declared a quarterly dividend of $0.67 per share, or $2.68 annually, yielding about 1.2%.
• NHC shares opened at $224.73, near their 52-week high of $239.29, while institutional investors owned 56.44% of the stock. Analysts’ consensus rating is “Buy,” with two Strong Buy and two Hold recommendations.

Manatuck Hill Partners LLC acquired a new stake in National HealthCare Corporation (NYSEAMERICAN:NHC - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 59,428 shares of the company's stock, valued at approximately $12,561,000. National HealthCare comprises 4.2% of Manatuck Hill Partners LLC's holdings, making the stock its 3rd largest position. Manatuck Hill Partners LLC owned about 0.38% of National HealthCare as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Royal Bank of Canada boosted its position in National HealthCare by 53.6% during the first quarter. Royal Bank of Canada now owns 2,724 shares of the company's stock worth $253,000 after acquiring an additional 950 shares during the last quarter. AQR Capital Management LLC raised its holdings in National HealthCare by 1.7% in the 1st quarter. AQR Capital Management LLC now owns 16,080 shares of the company's stock valued at $1,492,000 after acquiring an additional 262 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in National HealthCare by 3.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,247 shares of the company's stock valued at $858,000 after acquiring an additional 281 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of National HealthCare by 7.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 73,772 shares of the company's stock worth $6,846,000 after purchasing an additional 4,879 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of National HealthCare by 18.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,246 shares of the company's stock worth $2,807,000 after purchasing an additional 4,628 shares during the period. Hedge funds and other institutional investors own 56.44% of the company's stock.

National HealthCare Price Performance

NYSEAMERICAN NHC opened at $224.73 on Wednesday. The firm has a market capitalization of $3.52 billion, a P/E ratio of 25.28 and a beta of 0.61. National HealthCare Corporation has a 1-year low of $110.83 and a 1-year high of $239.29. The business's 50-day simple moving average is $217.84 and its 200-day simple moving average is $188.77.

National HealthCare (NYSEAMERICAN:NHC - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $1.74 earnings per share (EPS) for the quarter. National HealthCare had a net margin of 9.00% and a return on equity of 10.03%. The firm had revenue of $408.03 million during the quarter.

National HealthCare Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.68 annualized dividend and a dividend yield of 1.2%. National HealthCare's dividend payout ratio is presently 61.89%.

Insiders Place Their Bets

In other news, CEO Stephen Fowler Flatt sold 1,500 shares of the firm's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $237.08, for a total value of $355,620.00. Following the transaction, the chief executive officer owned 65,487 shares of the company's stock, valued at approximately $15,525,657.96. This trade represents a 2.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lisa Piercey bought 949 shares of National HealthCare stock in a transaction that occurred on Monday, June 1st. The shares were acquired at an average price of $184.26 per share, for a total transaction of $174,862.74. Following the acquisition, the director directly owned 949 shares in the company, valued at approximately $174,862.74. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 13.92% of the company's stock.

Analyst Upgrades and Downgrades

NHC has been the subject of a number of recent analyst reports. Royal Bank Of Canada raised National HealthCare to a "hold" rating in a research report on Monday, May 18th. BMO Capital Markets upgraded National HealthCare to a "hold" rating in a research note on Monday, May 18th. The Goldman Sachs Group upgraded National HealthCare to a "strong-buy" rating in a research report on Monday, May 18th. Finally, Robert W. Baird raised National HealthCare to a "strong-buy" rating in a research note on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy".

National HealthCare Company Profile

National HealthCare Corporation (NYSE American: NHC) is a healthcare services company specializing in long-term care and post-acute rehabilitation. The company operates skilled nursing facilities, assisted living communities and outpatient therapy clinics. Through its subsidiary, National HealthCare Partners, NHC provides contract rehabilitation services, pharmacy management and clinical consulting to a broad network of senior living and healthcare providers.

Headquartered in Murfreesboro, Tennessee, National HealthCare Corporation has built a regional footprint across the southeastern and south-central United States.

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