Graham Capital Management L.P. Purchases Shares of 59,699 Select Medical Holdings Co. (NYSE:SEM)

Graham Capital Management L.P. purchased a new position in Select Medical Holdings Co. (NYSE:SEM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 59,699 shares of the health services provider's stock, valued at approximately $1,125,000.

A number of other large investors have also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Select Medical during the 4th quarter worth $29,556,000. The Manufacturers Life Insurance Company lifted its stake in shares of Select Medical by 2,552.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,596,414 shares of the health services provider's stock worth $30,092,000 after purchasing an additional 1,536,234 shares during the period. Hood River Capital Management LLC lifted its stake in shares of Select Medical by 404.8% during the 4th quarter. Hood River Capital Management LLC now owns 1,755,733 shares of the health services provider's stock worth $33,096,000 after purchasing an additional 1,407,902 shares during the period. Invesco Ltd. lifted its stake in shares of Select Medical by 48.6% during the 4th quarter. Invesco Ltd. now owns 2,643,943 shares of the health services provider's stock worth $49,838,000 after purchasing an additional 864,852 shares during the period. Finally, Bridgeway Capital Management LLC purchased a new position in shares of Select Medical during the 4th quarter worth $14,074,000. Institutional investors and hedge funds own 89.48% of the company's stock.

Insider Activity at Select Medical

In other Select Medical news, CEO David S. Chernow sold 225,000 shares of Select Medical stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 714,516 shares in the company, valued at approximately $12,861,288. The trade was a 23.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Parvinderjit S. Khanuja purchased 21,000 shares of the firm's stock in a transaction on Monday, May 5th. The stock was acquired at an average price of $15.02 per share, for a total transaction of $315,420.00. Following the transaction, the director now owns 65,089 shares of the company's stock, valued at $977,636.78. The trade was 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.

Select Medical Stock Performance

NYSE SEM traded up $0.13 during trading hours on Friday, reaching $15.36. The company's stock had a trading volume of 861,466 shares, compared to its average volume of 890,284. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.37. The business has a 50-day simple moving average of $16.32 and a 200 day simple moving average of $20.49. Select Medical Holdings Co. has a 52 week low of $14.03 and a 52 week high of $40.98. The stock has a market cap of $1.97 billion, a PE ratio of 9.31, a PEG ratio of 0.64 and a beta of 1.40.

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

Select Medical declared that its board has authorized a stock repurchase program on Thursday, May 1st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the health services provider to repurchase up to 42.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Select Medical Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.63%. Select Medical's dividend payout ratio is presently 18.66%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SEM shares. Benchmark upgraded Select Medical from a "hold" rating to a "buy" rating and set a $23.00 price target for the company in a report on Monday, February 24th. StockNews.com upgraded Select Medical from a "hold" rating to a "buy" rating in a report on Friday, February 21st. Mizuho started coverage on Select Medical in a report on Wednesday, April 16th. They issued an "outperform" rating and a $25.00 price target for the company. Finally, Royal Bank of Canada lowered their price target on Select Medical from $23.00 to $19.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $26.00.

About Select Medical

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.