Acadian Asset Management LLC Raises Stake in Genesis Healthcare Inc (GEN)

Acadian Asset Management LLC grew its holdings in Genesis Healthcare Inc (NYSE:GEN) by 14.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,691,866 shares of the company’s stock after acquiring an additional 217,438 shares during the period. Acadian Asset Management LLC owned about 1.05% of Genesis Healthcare worth $1,996,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Renaissance Technologies LLC grew its holdings in Genesis Healthcare by 19.4% during the 3rd quarter. Renaissance Technologies LLC now owns 2,895,611 shares of the company’s stock valued at $3,909,000 after purchasing an additional 471,411 shares in the last quarter. BlackRock Inc. grew its holdings in Genesis Healthcare by 37.2% during the 2nd quarter. BlackRock Inc. now owns 3,158,317 shares of the company’s stock worth $7,233,000 after acquiring an additional 855,900 shares in the last quarter. Bridgeway Capital Management Inc. grew its holdings in Genesis Healthcare by 40.5% during the 3rd quarter. Bridgeway Capital Management Inc. now owns 1,054,400 shares of the company’s stock worth $1,423,000 after acquiring an additional 304,200 shares in the last quarter. First Washington CORP grew its holdings in Genesis Healthcare by 15.5% during the 3rd quarter. First Washington CORP now owns 3,402,937 shares of the company’s stock worth $4,594,000 after acquiring an additional 456,520 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Genesis Healthcare by 46.4% during the 2nd quarter. Northern Trust Corp now owns 658,211 shares of the company’s stock worth $1,508,000 after acquiring an additional 208,621 shares in the last quarter. 21.22% of the stock is currently owned by institutional investors and hedge funds.

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Several research analysts have weighed in on GEN shares. Cantor Fitzgerald reissued a “buy” rating and set a $7.00 price objective on shares of Genesis Healthcare in a report on Wednesday, November 7th. Stifel Nicolaus raised shares of Genesis Healthcare from a “hold” rating to a “buy” rating and raised their price objective for the stock from $2.00 to $2.50 in a report on Wednesday, November 28th. Finally, Credit Suisse Group reissued a “hold” rating on shares of Genesis Healthcare in a report on Monday, February 4th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $3.31.

Shares of GEN stock opened at $1.32 on Friday. The firm has a market cap of $216.65 million, a price-to-earnings ratio of -0.63 and a beta of 1.10. Genesis Healthcare Inc has a 1-year low of $1.10 and a 1-year high of $2.86.

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Genesis Healthcare Profile

Genesis Healthcare, Inc, together with its subsidiaries, owns and operates skilled nursing facilities and assisted/senior living facilities in the United States. The company operates through three segments: Inpatient Services, Rehabilitation Therapy Services, and All Other Services. It also provides a range of rehabilitation therapy services, including speech-language pathology, physical therapy, occupational therapy, and respiratory therapy.

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