Sonida Senior Living (NYSE:SNDA) Shares Gap Down Following Weak Earnings

Key Points

• Sonida Senior Living shares fell 2.3%, opening at $38.66 versus the prior close of $40.30, after the company reported quarterly EPS of $(0.52), missing the consensus estimate of $(0.09). Revenue totaled $207.65 million.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and an average price target of $43.00, although several firms recently raised their targets, including Citizens JMP’s $50.00 target.
• Director Benjamin P. Harris sold 2,500 shares, while institutional investors own a substantial 87.55% of outstanding shares; company insiders own 39.30%.

Sonida Senior Living, Inc. (NYSE:SNDA - Get Free Report)'s share price gapped down prior to trading on Monday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $40.30, but opened at $38.66. Sonida Senior Living shares last traded at $39.5580, with a volume of 48,105 shares changing hands.

The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.43). Sonida Senior Living had a negative return on equity of 36.98% and a negative net margin of 24.15%.The company had revenue of $207.65 million for the quarter. During the same period in the prior year, the company posted ($0.16) EPS.

Analyst Ratings Changes

SNDA has been the subject of a number of research reports. Morgan Stanley lifted their target price 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 upped their price target on shares of Sonida Senior Living from $36.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 13th. Weiss Ratings raised Sonida Senior Living from a "sell (d-)" rating to a "sell (d)" rating in a research report on Wednesday, July 29th. Citizens Jmp assumed coverage on Sonida Senior Living in a research note on Monday, July 27th. They set an "outperform" rating and a $50.00 price target for the company. Finally, Royal Bank Of Canada lifted their price target on Sonida Senior Living from $45.00 to $48.00 and gave the company an "outperform" rating in a report on Monday, June 29th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Sonida Senior Living has a consensus rating of "Hold" and an average price target of $43.00.

Insider Activity at Sonida Senior Living

In other news, Director Benjamin P. Harris sold 2,500 shares of the firm's stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $37.46, for a total transaction of $93,650.00. Following the transaction, the director owned 9,182 shares in the company, valued at approximately $343,957.72. This trade represents a 21.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 39.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sonida Senior Living

A number of large investors have recently bought and sold shares of SNDA. Brookstone Capital Management acquired a new position in Sonida Senior Living during the first quarter worth $258,000. Capital Advisors Ltd. LLC acquired a new stake in shares of Sonida Senior Living in the first quarter worth about $45,000. Ocean Park Asset Management LLC acquired a new stake in shares of Sonida Senior Living in the first quarter worth about $337,000. RFG Advisory LLC bought a new stake in shares of Sonida Senior Living during the 1st quarter worth about $279,000. Finally, Ritholtz Wealth Management bought a new stake in shares of Sonida Senior Living during the 1st quarter worth about $545,000. 87.55% of the stock is currently owned by institutional investors.

Sonida Senior Living Trading Down 2.3%

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 company has a market capitalization of $1.87 billion, a price-to-earnings ratio of -6.76 and a beta of 0.80. The company's fifty day moving average price is $38.58.

About Sonida Senior Living

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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