SBC Medical Group Holdings Incorporated (NASDAQ:SBC) Short Interest Update

Key Points

• Short interest jumped 46.4% in April to 338,368 shares (about 3.1% of shares outstanding) and the days-to-cover ratio is 7.3 based on average daily volume.
• CEO Yoshiyuki Aikawa sold 3.1M shares on April 21 at $3.02 for roughly $9.36M, trimming his position by 3.76 to 79,304,460 shares while insiders collectively own 89.47% of the stock.
• Analysts show a consensus Hold with an average target price of $8.50 (two Buys, one Sell); the company trades at a PE of 6.9 and has a market cap of about $347 million.

SBC Medical Group Holdings Incorporated (NASDAQ:SBC - Get Free Report) was the target of a large increase in short interest in April. As of April 15th, there was short interest totaling 338,368 shares, an increase of 46.4% from the March 31st total of 231,149 shares. Based on an average daily trading volume, of 46,371 shares, the days-to-cover ratio is currently 7.3 days. Currently, 3.1% of the shares of the stock are short sold.

Insider Transactions at SBC Medical Group

In other SBC Medical Group news, CEO Yoshiyuki Aikawa sold 3,100,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $3.02, for a total transaction of $9,362,000.00. Following the completion of the sale, the chief executive officer directly owned 79,304,460 shares of the company's stock, valued at $239,499,469.20. This trade represents a 3.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 89.47% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SBC. Geode Capital Management LLC purchased a new position in shares of SBC Medical Group in the second quarter valued at $455,000. Millennium Management LLC purchased a new position in shares of SBC Medical Group in the third quarter valued at $219,000. New York State Common Retirement Fund bought a new stake in SBC Medical Group in the second quarter worth $104,000. Williams & Novak LLC bought a new stake in SBC Medical Group in the fourth quarter worth $65,000. Finally, XTX Topco Ltd bought a new stake in SBC Medical Group in the second quarter worth $64,000. 60.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SBC. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of SBC Medical Group in a report on Friday, March 27th. BTIG Research began coverage on shares of SBC Medical Group in a report on Friday, March 6th. They set a "buy" rating and a $8.00 price objective for the company. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $8.50.

SBC Medical Group Trading Up 0.9%

SBC stock opened at $3.38 on Tuesday. The firm has a fifty day moving average price of $3.96 and a 200 day moving average price of $4.00. SBC Medical Group has a fifty-two week low of $2.97 and a fifty-two week high of $5.75. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.74 and a current ratio of 3.78. The firm has a market cap of $346.72 million, a PE ratio of 6.90 and a beta of 0.99.

SBC Medical Group (NASDAQ:SBC - Get Free Report) last posted its earnings results on Friday, March 27th. The company reported $0.14 earnings per share for the quarter, beating 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 analyst estimates of $45.19 million. Sell-side analysts anticipate that SBC Medical Group will post 0.47 earnings per share for the current fiscal year.

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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