Surgery Partners, Inc. (NASDAQ:SGRY) is King Street Capital Management L.P.'s 3rd Largest Position

King Street Capital Management L.P. grew its position in Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) by 93.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,800,000 shares of the company's stock after buying an additional 1,350,000 shares during the period. Surgery Partners accounts for approximately 9.0% of King Street Capital Management L.P.'s investment portfolio, making the stock its 3rd largest holding. King Street Capital Management L.P. owned approximately 2.20% of Surgery Partners worth $59,276,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SGRY. Wells Fargo & Company MN lifted its holdings in Surgery Partners by 1.4% during the fourth quarter. Wells Fargo & Company MN now owns 56,931 shares of the company's stock worth $1,205,000 after acquiring an additional 783 shares in the last quarter. MeadowBrook Investment Advisors LLC lifted its holdings in shares of Surgery Partners by 16.6% in the fourth quarter. MeadowBrook Investment Advisors LLC now owns 10,280 shares of the company's stock valued at $218,000 after purchasing an additional 1,460 shares in the last quarter. KBC Group NV lifted its holdings in shares of Surgery Partners by 66.1% in the fourth quarter. KBC Group NV now owns 3,962 shares of the company's stock valued at $84,000 after purchasing an additional 1,577 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Surgery Partners by 1.3% in the fourth quarter. Rhumbline Advisers now owns 121,852 shares of the company's stock valued at $2,580,000 after purchasing an additional 1,588 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of Surgery Partners by 6.1% in the fourth quarter. MetLife Investment Management LLC now owns 47,027 shares of the company's stock valued at $996,000 after purchasing an additional 2,684 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Benchmark reaffirmed a "buy" rating and issued a $35.00 target price on shares of Surgery Partners in a research report on Monday, April 21st. Royal Bank of Canada reissued an "outperform" rating and set a $35.00 price target on shares of Surgery Partners in a research report on Tuesday, March 25th. Finally, Macquarie lowered their price target on Surgery Partners from $34.00 to $33.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $34.75.

Surgery Partners Stock Up 1.3%

NASDAQ SGRY traded up $0.30 during trading hours on Friday, hitting $23.94. The company's stock had a trading volume of 962,649 shares, compared to its average volume of 1,089,153. Surgery Partners, Inc. has a 52 week low of $19.50 and a 52 week high of $33.97. The company has a market capitalization of $3.07 billion, a PE ratio of -49.88, a price-to-earnings-growth ratio of 19.21 and a beta of 1.96. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99. The company's 50-day simple moving average is $22.55 and its two-hundred day simple moving average is $23.27.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.04). The firm had revenue of $776.00 million for the quarter, compared to the consensus estimate of $777.77 million. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. Surgery Partners's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 EPS. Research analysts anticipate that Surgery Partners, Inc. will post 0.67 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Marissa Brittenham sold 3,156 shares of Surgery Partners stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $24.09, for a total value of $76,028.04. Following the completion of the transaction, the insider now directly owns 63,408 shares in the company, valued at approximately $1,527,498.72. The trade was a 4.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David T. Doherty sold 6,733 shares of Surgery Partners stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $24.02, for a total transaction of $161,726.66. Following the completion of the transaction, the chief financial officer now owns 150,868 shares of the company's stock, valued at $3,623,849.36. This represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.

Surgery Partners Company Profile

Surgery Partners, Inc, together with its subsidiaries, owns and operates a network of surgical facilities and ancillary services in the United States. The company provides ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including orthopedics and pain management, ophthalmology, gastroenterology, and general surgery.