Solas Capital Management LLC Invests $13.78 Million in Sonida Senior Living, Inc. $SNDA

Solas Capital Management LLC acquired a new position in shares of Sonida Senior Living, Inc. (NYSE:SNDA) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 337,679 shares of the company’s stock, valued at approximately $13,777,000. Sonida Senior Living makes up approximately 7.4% of Solas Capital Management LLC’s holdings, making the stock its 4th biggest position.

Several other institutional investors have also recently bought and sold shares of SNDA. Allworth Financial LP acquired a new position in Sonida Senior Living during the 2nd quarter worth approximately $43,000. Capital Advisors Ltd. LLC bought a new stake in shares of Sonida Senior Living in the first quarter worth $45,000. Main Street Group LTD acquired a new position in Sonida Senior Living during the first quarter worth $50,000. First Pacific Financial bought a new position in Sonida Senior Living in the first quarter valued at $56,000. Finally, Darwin Wealth Management LLC acquired a new stake in Sonida Senior Living in the 1st quarter valued at $63,000. Institutional investors own 87.55% of the company’s stock.

Insider Buying and Selling

In related news, Director Benjamin P. Harris sold 6,269 shares of Sonida Senior Living stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $39.79, for a total transaction of $249,443.51. Following the completion of the transaction, the director owned 10,037 shares in the company, valued at approximately $399,372.23. This trade represents a 38.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 39.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley increased their price objective on shares of Sonida Senior Living from $31.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. Wall Street Zen raised Sonida Senior Living from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Royal Bank Of Canada raised their price target on Sonida Senior Living from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. Compass Point assumed coverage on Sonida Senior Living in a research report on Tuesday, August 11th. They set a “buy” rating and a $65.00 price target on the stock. Finally, Citigroup initiated coverage on Sonida Senior Living in a research report on Monday, July 27th. They set a “market outperform” rating on the stock. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.50.

Sonida Senior Living Price Performance

Shares of SNDA stock opened at $39.37 on Tuesday. The company has a fifty day moving average price of $39.76. Sonida Senior Living, Inc. has a one year low of $24.94 and a one year high of $44.38. The firm has a market capitalization of $1.89 billion, a PE ratio of -6.36 and a beta of 0.80. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.80.

Sonida Senior Living (NYSE:SNDA) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.43). The firm had revenue of $207.65 million for the quarter. Sonida Senior Living had a negative return on equity of 25.53% and a negative net margin of 23.27%.During the same quarter in the previous year, the company earned ($0.16) EPS. As a group, equities research analysts anticipate that Sonida Senior Living, Inc. will post -1.72 EPS for the current fiscal year.

Sonida Senior Living Profile

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.