Renaissance Technologies LLC Grows Position in Brookdale Senior Living Inc. $BKD

Key Points

• Renaissance Technologies increased its stake in Brookdale Senior Living by 20.4% in the first quarter, buying 1.3 million more shares and bringing its holding to 7.66 million shares worth about $104.8 million.
• Brookdale Senior Living stock was up 4.4% to $15.13, near its 52-week high of $17.09 and above both its 50-day and 200-day moving averages.
• The company reported a small quarterly earnings miss, posting EPS of -$0.03 versus the -$0.02 estimate, while analysts currently rate the stock a Moderate Buy with a consensus price target of $17.60.

Renaissance Technologies LLC lifted its position in Brookdale Senior Living Inc. (NYSE:BKD - Free Report) by 20.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,663,564 shares of the company's stock after purchasing an additional 1,300,100 shares during the period. Renaissance Technologies LLC owned about 3.21% of Brookdale Senior Living worth $104,838,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada boosted its position in Brookdale Senior Living by 3.4% during the 1st quarter. Royal Bank of Canada now owns 1,100,420 shares of the company's stock valued at $6,888,000 after buying an additional 36,604 shares during the period. AQR Capital Management LLC increased its position in shares of Brookdale Senior Living by 34.2% in the first quarter. AQR Capital Management LLC now owns 25,506 shares of the company's stock valued at $160,000 after acquiring an additional 6,507 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Brookdale Senior Living by 3.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 138,383 shares of the company's stock valued at $866,000 after acquiring an additional 4,323 shares during the period. Millennium Management LLC raised its stake in shares of Brookdale Senior Living by 67.7% during the first quarter. Millennium Management LLC now owns 2,171,161 shares of the company's stock valued at $13,591,000 after acquiring an additional 876,222 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Brookdale Senior Living during the first quarter valued at about $181,000.

Brookdale Senior Living Trading Up 4.4%

NYSE:BKD opened at $15.13 on Friday. The company has a 50-day moving average price of $14.04 and a 200-day moving average price of $13.97. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of -17.60 and a beta of 0.58. Brookdale Senior Living Inc. has a 12 month low of $6.99 and a 12 month high of $17.09.

Brookdale Senior Living (NYSE:BKD - Get Free Report) last announced its quarterly earnings results 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 net margin of 6.51% and a negative return on equity of 15,050.32%. The company had revenue of $764.86 million for the quarter, compared to analysts' expectations of $771.16 million. Equities analysts forecast that Brookdale Senior Living Inc. will post -0.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BKD shares. Zacks Research lowered shares of Brookdale Senior Living from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 21st. Weiss Ratings lowered Brookdale Senior Living from a "sell (d)" rating to a "sell (d-)" rating in a research report on Wednesday, May 27th. Stephens initiated coverage on Brookdale Senior Living in a research report on Thursday, April 9th. They set an "overweight" rating and a $18.00 price target for the company. Finally, Compass Point assumed coverage on Brookdale Senior Living in a research report on Monday, June 15th. They issued a "buy" rating and a $22.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $17.60.

Brookdale Senior Living Company Profile

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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