Waterfront Capital Partners LLC Reduces Holdings in Brookdale Senior Living Inc. (NYSE:BKD)

Waterfront Capital Partners LLC trimmed its stake in Brookdale Senior Living Inc. (NYSE:BKD) by 27.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,269,583 shares of the company’s stock after selling 840,188 shares during the period. Brookdale Senior Living accounts for approximately 2.1% of Waterfront Capital Partners LLC’s portfolio, making the stock its 17th biggest position. Waterfront Capital Partners LLC’s holdings in Brookdale Senior Living were worth $15,410,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BKD. Assenagon Asset Management S.A. purchased a new position in shares of Brookdale Senior Living in the 2nd quarter valued at $9,603,000. Hennessy Advisors Inc. purchased a new stake in shares of Brookdale Senior Living in the second quarter valued at about $8,513,000. American Century Companies Inc. boosted its holdings in shares of Brookdale Senior Living by 63.6% in the second quarter. American Century Companies Inc. now owns 3,159,898 shares of the company’s stock valued at $21,582,000 after acquiring an additional 1,228,473 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Brookdale Senior Living in the second quarter valued at about $3,998,000. Finally, Marshall Wace LLP boosted its holdings in shares of Brookdale Senior Living by 35.4% in the second quarter. Marshall Wace LLP now owns 1,936,781 shares of the company’s stock valued at $13,228,000 after acquiring an additional 506,114 shares in the last quarter.

Brookdale Senior Living Stock Performance

Shares of BKD opened at $5.59 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 14.46. The stock has a market cap of $1.11 billion, a P/E ratio of -6.08 and a beta of 1.32. The company has a 50-day moving average of $6.07 and a two-hundred day moving average of $6.69. Brookdale Senior Living Inc. has a 12-month low of $5.08 and a 12-month high of $8.12.

Brookdale Senior Living (NYSE:BKD) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.06). Brookdale Senior Living had a negative net margin of 6.75% and a negative return on equity of 59.06%. The firm had revenue of $784.17 million during the quarter, compared to analyst estimates of $785.61 million. During the same period in the prior year, the firm earned ($0.22) EPS. As a group, research analysts predict that Brookdale Senior Living Inc. will post -0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Brookdale Senior Living in a report on Wednesday, October 16th. They issued a “buy” rating and a $8.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $9.00 price objective on shares of Brookdale Senior Living in a research note on Wednesday, October 9th. Bank of America cut shares of Brookdale Senior Living from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $7.75 to $6.00 in a research report on Monday, October 7th. Finally, Macquarie restated an “outperform” rating and set a $8.00 target price on shares of Brookdale Senior Living in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $7.75.

Brookdale Senior Living Profile

Brookdale Senior Living Inc owns, manages, and operates senior living communities in the United States. It operates in three segments: Independent Living, Assisted Living and Memory Care, and Continuing Care Retirement Communities (CCRCs). The Independent Living segment owns or leases communities comprising independent and assisted living units in a single community that are primarily designed for middle to upper income seniors.