SBC Medical Group Holdings Incorporated (NASDAQ:SBC) Sees Significant Drop in Short Interest

Key Points

• Short interest plunged 24.8% in March to 231,149 shares (about 2.1% of shares short) with a short-interest ratio of 5.2 days based on average daily volume.
• CEO Yoshiyuki Aikawa sold 4,422,900 shares at an average $2.12 on March 6, reducing his position by 83.7%, while insiders still own roughly 89.47% of the company.
• Mixed financials and analyst sentiment: Q1 EPS beat by $0.01 but revenue missed forecasts, the stock trades around $4.38 with a PE of 8.9, and the consensus rating is "Hold" with an average price target of $8.50 (two Buys, one Sell).

SBC Medical Group Holdings Incorporated (NASDAQ:SBC - Get Free Report) was the target of a large drop in short interest in March. As of March 31st, there was short interest totaling 231,149 shares, a drop of 24.8% from the March 15th total of 307,327 shares. Based on an average daily trading volume, of 44,369 shares, the short-interest ratio is currently 5.2 days. Currently, 2.1% of the shares of the stock are short sold.

SBC Medical Group Trading Up 0.3%

Shares of SBC traded up $0.02 during midday trading on Wednesday, hitting $4.38. The stock had a trading volume of 34,169 shares, compared to its average volume of 33,578. SBC Medical Group has a 1 year low of $2.97 and a 1 year high of $5.75. The firm has a market cap of $448.79 million, a PE ratio of 8.93 and a beta of 0.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.78 and a quick ratio of 3.74. The stock's 50 day moving average is $4.11 and its 200 day moving average is $4.03.

SBC Medical Group (NASDAQ:SBC - Get Free Report) last released its quarterly earnings results on Friday, March 27th. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. SBC Medical Group had a net margin of 29.37% and a return on equity of 20.76%. The firm had revenue of $39.57 million during the quarter, compared to analysts' expectations of $45.19 million. As a group, analysts forecast that SBC Medical Group will post 5.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SBC. Weiss Ratings reissued a "sell (d+)" rating on shares of SBC Medical Group in a research note on Friday, March 27th. BTIG Research initiated coverage on SBC Medical Group in a report on Friday, March 6th. They issued a "buy" rating and a $8.00 target price for the company. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $8.50.

Insider Buying and Selling at SBC Medical Group

In other news, CEO Yoshiyuki Aikawa sold 4,422,900 shares of the company's stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $2.12, for a total transaction of $9,376,548.00. Following the sale, the chief executive officer directly owned 861,600 shares in the company, valued at approximately $1,826,592. This represents a 83.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 89.47% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. purchased a new stake in shares of SBC Medical Group in the fourth quarter worth approximately $49,000. Russell Investments Group Ltd. boosted its holdings in SBC Medical Group by 292.0% during the 4th quarter. Russell Investments Group Ltd. now owns 11,775 shares of the company's stock valued at $51,000 after acquiring an additional 8,771 shares during the period. Nuveen LLC bought a new position in SBC Medical Group in the 4th quarter valued at $53,000. Wells Fargo & Company MN grew its position in SBC Medical Group by 195.1% in the 4th quarter. Wells Fargo & Company MN now owns 12,626 shares of the company's stock valued at $54,000 after acquiring an additional 8,348 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in SBC Medical Group in the second quarter worth $64,000. Institutional investors own 60.82% of the company's stock.

SBC Medical Group Company Profile

SBC Medical Group, Inc is a publicly traded healthcare management services company listed on the Nasdaq under the ticker SBC. The company specializes in supporting in-office ancillary service providers by offering a suite of administrative and operational solutions designed to streamline practice management and enhance revenue performance. Its core mission is to help physician practices, imaging centers and other ancillary service providers focus on patient care while outsourcing complex back-office functions.

The company's primary offerings include revenue cycle management, medical billing and coding, compliance oversight and transcription services.

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