Sonida Senior Living, Inc. $SNDA Shares Purchased by Irenic Capital Management LP

Key Points

• Irenic Capital Management increased its Sonida Senior Living stake by 1,049.3% in the first quarter, holding 1.22 million shares worth about $39.3 million. Institutional investors and hedge funds now own 87.55% of SNDA.
• Sonida reported a quarterly loss of $2.39 per share, missing estimates by $0.72, on revenue of $122.63 million. Analysts expect a full-year loss of $1.72 per share.
• Analyst sentiment remains mixed, with ratings ranging from sell to outperform and a consensus “Hold” rating; the average price target is $43, near the stock’s reported $43.19 price.

Irenic Capital Management LP boosted its stake in Sonida Senior Living, Inc. (NYSE:SNDA - Free Report) by 1,049.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,219,747 shares of the company's stock after buying an additional 1,113,622 shares during the quarter. Sonida Senior Living makes up approximately 2.6% of Irenic Capital Management LP's portfolio, making the stock its 10th largest holding. Irenic Capital Management LP owned approximately 2.58% of Sonida Senior Living worth $39,337,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SNDA. Conversant Capital LLC raised its holdings in shares of Sonida Senior Living by 57.7% during the first quarter. Conversant Capital LLC now owns 14,605,874 shares of the company's stock valued at $471,039,000 after acquiring an additional 5,341,221 shares during the last quarter. Rush Island Management LP acquired a new stake in shares of Sonida Senior Living in the first quarter worth approximately $7,036,000. Dimensional Fund Advisors LP acquired a new stake in shares of Sonida Senior Living in the first quarter worth approximately $1,998,000. Cetera Investment Advisers purchased a new stake in shares of Sonida Senior Living during the first quarter worth approximately $1,090,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Sonida Senior Living during the first quarter worth approximately $1,036,000. 87.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Sonida Senior Living

In other news, Director Benjamin P. Harris sold 2,500 shares of the business's stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $37.46, for a total value of $93,650.00. Following the sale, the director directly owned 9,182 shares of the company's stock, valued at approximately $343,957.72. The trade was a 21.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 39.30% of the stock is currently owned by corporate insiders.

Sonida Senior Living Trading Up 0.9%

NYSE SNDA opened at $43.19 on Wednesday. The business's fifty day simple moving average is $38.06. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 1.58. The stock has a market cap of $2.05 billion, a PE ratio of -7.41 and a beta of 0.75. Sonida Senior Living, Inc. has a twelve month low of $23.78 and a twelve month high of $44.38.

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

Analysts Set New Price Targets

Several research analysts recently commented on the company. Citizens Jmp started coverage on Sonida Senior Living in a research note on Monday. They issued an "outperform" rating and a $50.00 price objective for the company. Morgan Stanley upped 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 note on Friday, May 29th. Cantor Fitzgerald raised their target price on Sonida Senior Living from $36.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 13th. Wall Street Zen cut shares of Sonida Senior Living from a "hold" rating to a "sell" rating in a research report on Sunday, April 26th. Finally, Robert W. Baird increased their price target 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. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $43.00.

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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