Sonida Senior Living, Inc. $SNDA is Conversant Capital LLC's Largest Position

Key Points

• Conversant Capital LLC increased its Sonida Senior Living stake by 57.7% in the first quarter, making SNDA its largest holding at about 65% of its portfolio. The firm now owns 14.6 million shares, worth roughly $471 million.
• Sonida Senior Living reported a Q1 EPS loss of $2.39, wider than the analyst estimate of a $1.67 loss, on revenue of $122.63 million. The company also posted negative net margin and return on equity, and analysts expect a full-year EPS loss.
• Analyst sentiment is mixed but cautious: the stock currently carries a Hold consensus rating with an average price target of $41.25. One insider sale was also disclosed, as Director Benjamin P. Harris sold 2,500 shares in May.

Conversant Capital LLC grew its holdings in shares of Sonida Senior Living, Inc. (NYSE:SNDA - Free Report) by 57.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,605,874 shares of the company's stock after buying an additional 5,341,221 shares during the quarter. Sonida Senior Living accounts for approximately 65.0% of Conversant Capital LLC's holdings, making the stock its biggest holding. Conversant Capital LLC owned approximately 30.85% of Sonida Senior Living worth $471,039,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Capital Advisors Ltd. LLC bought a new stake in Sonida Senior Living during the first quarter worth approximately $45,000. Main Street Group LTD purchased a new stake in Sonida Senior Living during the first quarter valued at approximately $50,000. First Pacific Financial bought a new stake in shares of Sonida Senior Living in the 1st quarter valued at approximately $56,000. Darwin Wealth Management LLC bought a new stake in shares of Sonida Senior Living in the 1st quarter valued at approximately $63,000. Finally, NFSG Corp purchased a new position in shares of Sonida Senior Living in the 1st quarter worth approximately $68,000. Institutional investors own 87.55% of the company's stock.

Sonida Senior Living Price Performance

SNDA stock opened at $41.60 on Friday. The stock has a market cap of $1.97 billion, a P/E ratio of -7.14 and a beta of 0.75. Sonida Senior Living, Inc. has a 12 month low of $23.78 and a 12 month high of $42.79. The business has a 50-day moving average of $37.80. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 1.58.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SNDA shares. Wall Street Zen lowered Sonida Senior Living from a "hold" rating to a "sell" rating in a report on Sunday, April 26th. Cantor Fitzgerald lifted their price objective on shares of Sonida Senior Living from $36.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 13th. Morgan Stanley boosted their price objective on shares of Sonida Senior Living from $31.00 to $38.00 and gave the company an "equal weight" rating in a research report on Friday, May 29th. Weiss Ratings downgraded shares of Sonida Senior Living from a "sell (d)" rating to a "sell (d-)" rating in a research note on Tuesday, July 14th. Finally, Robert W. Baird increased their target price 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. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $41.25.

Insider Buying and Selling at Sonida Senior Living

In related news, Director Benjamin P. Harris sold 2,500 shares of the business's 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 sale, the director owned 9,182 shares in the company, valued at approximately $343,957.72. The trade was a 21.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 39.30% of the company's stock.

Sonida Senior Living 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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