Walleye Capital LLC bought a new stake in Ardent Health, Inc. (NYSE:ARDT – Free Report) during the second quarter, Holdings Channel.com reports. The firm bought 90,511 shares of the company’s stock, valued at approximately $891,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ARDT. Wedge Capital Management L L P NC lifted its stake in shares of Ardent Health by 212.3% in the 2nd quarter. Wedge Capital Management L L P NC now owns 327,242 shares of the company’s stock valued at $3,220,000 after acquiring an additional 222,447 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new stake in Ardent Health during the 4th quarter worth $1,077,000. LSV Asset Management bought a new stake in Ardent Health during the 4th quarter worth $963,000. First Trust Advisors LP grew its position in Ardent Health by 70.9% during the 1st quarter. First Trust Advisors LP now owns 478,795 shares of the company’s stock worth $4,098,000 after acquiring an additional 198,595 shares during the last quarter. Finally, Denali Advisors LLC increased its holdings in Ardent Health by 35.0% in the 4th quarter. Denali Advisors LLC now owns 249,450 shares of the company’s stock worth $2,203,000 after purchasing an additional 64,650 shares in the last quarter.
Ardent Health Stock Performance
Shares of Ardent Health stock opened at $10.93 on Friday. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 19.87, a P/E/G ratio of 3.16 and a beta of 0.70. Ardent Health, Inc. has a twelve month low of $7.71 and a twelve month high of $15.48. The company’s fifty day moving average is $10.21 and its 200 day moving average is $9.58. The company has a quick ratio of 2.00, a current ratio of 2.10 and a debt-to-equity ratio of 0.61.
Wall Street Analyst Weigh In
Several research firms have commented on ARDT. UBS Group increased their target price on Ardent Health from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings cut Ardent Health from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday. Royal Bank Of Canada upped their price objective on Ardent Health from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Monday. Zacks Research lowered shares of Ardent Health from a “hold” rating to a “strong sell” rating in a report on Thursday, August 6th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $13.00 target price on shares of Ardent Health in a research report on Thursday, August 6th. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.05.
Read Our Latest Stock Report on ARDT
Insider Activity at Ardent Health
In related news, CFO Alfred Lumsdaine purchased 10,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was bought at an average price of $8.81 per share, with a total value of $88,100.00. Following the completion of the purchase, the chief financial officer owned 329,183 shares in the company, valued at approximately $2,900,102.23. This represents a 3.13% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.90% of the company’s stock.
Ardent Health Company Profile
Ardent Health, listed on the New York Stock Exchange under the ticker ARDT, is a healthcare delivery company focused on acquiring, developing and managing acute care hospitals and complementary outpatient facilities across the United States. The company’s integrated platform encompasses both inpatient and outpatient services, designed to provide end-to-end care solutions and address the full continuum of patient needs.
Through its network, Ardent Health operates general hospitals, emergency departments, ambulatory surgery centers, urgent care clinics, rehabilitation and post-acute care facilities.
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