Brookdale Senior Living (NYSE:BKD) Stock Price Breaks Above 50 Day Moving Average - Here's What Happened

Key Points

• Brookdale shares rose 7.9% and crossed above their 50-day moving average of $10.99, reaching $11.21 before last trading at about $11.19.
• Analysts have a consensus Buy rating and a $17.40 price target; ratings include two Strong Buys, five Buys and one Sell.
• In its latest reported quarter, Brookdale posted EPS of $0.10, beating the $0.06-per-share loss analysts expected, while revenue of $718.6 million fell short of estimates.

Shares of Brookdale Senior Living Inc. (NYSE:BKD - Get Free Report) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $10.99 and traded as high as $11.21. Brookdale Senior Living shares last traded at $11.1880, with a volume of 5,735,732 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BKD shares. Barclays lowered their price objective on Brookdale Senior Living from $18.00 to $17.00 and set an "overweight" rating for the company in a research note on Tuesday, August 11th. Zacks Research raised Brookdale Senior Living from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 6th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Brookdale Senior Living in a report on Monday, August 24th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Brookdale Senior Living currently has a consensus rating of "Buy" and a consensus target price of $17.40.

Brookdale Senior Living Stock Up 7.9%

The stock's fifty day moving average price is $10.99 and its 200 day moving average price is $13.29. The stock has a market cap of $2.67 billion, a PE ratio of -19.29, a PEG ratio of 5.00 and a beta of 0.55.

Brookdale Senior Living (NYSE:BKD - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.16. Brookdale Senior Living had a negative net margin of 4.53% and a negative return on equity of 15,050.32%. The company had revenue of $718.58 million during the quarter, compared to the consensus estimate of $735.63 million. On average, equities research analysts expect that Brookdale Senior Living Inc. will post 0.06 earnings per share for the current fiscal year.

Institutional Trading of Brookdale Senior Living

A number of institutional investors and hedge funds have recently modified their holdings of BKD. WCM Investment Management LLC bought a new stake in shares of Brookdale Senior Living during the 1st quarter valued at about $171,681,000. Wellington Management Group LLP increased its position in shares of Brookdale Senior Living by 9.1% during the 2nd quarter. Wellington Management Group LLP now owns 9,633,343 shares of the company's stock valued at $155,000,000 after purchasing an additional 802,736 shares during the last quarter. Maple Rock Capital Partners Inc. increased its position in shares of Brookdale Senior Living by 9.0% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 8,888,148 shares of the company's stock valued at $143,010,000 after purchasing an additional 731,000 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Brookdale Senior Living by 20.4% in the 1st quarter. Renaissance Technologies LLC now owns 7,663,564 shares of the company's stock worth $104,838,000 after purchasing an additional 1,300,100 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Brookdale Senior Living by 3.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,194,941 shares of the company's stock worth $71,061,000 after purchasing an additional 173,454 shares during the period.

About Brookdale Senior Living

Brookdale Senior Living, Inc NYSE: BKD is a U.S.-based operator of senior living communities. The company provides housing, care and support services for older adults through a range of offerings, including independent living, assisted living, memory care and continuing care retirement communities.

Brookdale's services are designed to support residents with different levels of independence and care needs. Its communities generally provide accommodations, dining, wellness programs, social and recreational activities, transportation and assistance with daily living.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.