Dark Forest Capital Management LP Makes New Investment in AdaptHealth Corp. (NASDAQ:AHCO)

Dark Forest Capital Management LP purchased a new position in AdaptHealth Corp. (NASDAQ:AHCO) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 38,370 shares of the company’s stock, valued at approximately $384,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in AdaptHealth by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock worth $115,304,000 after purchasing an additional 818,241 shares during the period. Reinhart Partners LLC. boosted its stake in AdaptHealth by 1.4% in the 2nd quarter. Reinhart Partners LLC. now owns 4,269,303 shares of the company’s stock worth $42,693,000 after purchasing an additional 59,092 shares during the period. Dimensional Fund Advisors LP boosted its stake in AdaptHealth by 43.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,327,738 shares of the company’s stock worth $23,277,000 after purchasing an additional 710,131 shares during the period. Divisadero Street Capital Management LP boosted its stake in AdaptHealth by 179.7% in the 2nd quarter. Divisadero Street Capital Management LP now owns 1,161,592 shares of the company’s stock worth $11,616,000 after purchasing an additional 746,340 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in AdaptHealth by 21.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,040,947 shares of the company’s stock worth $7,589,000 after purchasing an additional 183,135 shares during the period. 82.67% of the stock is currently owned by institutional investors.

Insider Transactions at AdaptHealth

In related news, Director David Solomon Williams III sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $11.26, for a total value of $45,040.00. Following the sale, the director now owns 36,899 shares in the company, valued at $415,482.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other AdaptHealth news, Director David Solomon Williams III sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $11.26, for a total value of $45,040.00. Following the completion of the transaction, the director now directly owns 36,899 shares of the company’s stock, valued at $415,482.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Shaw Rietkerk sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.24, for a total value of $281,000.00. Following the completion of the transaction, the chief operating officer now directly owns 212,611 shares of the company’s stock, valued at $2,389,747.64. The disclosure for this sale can be found here. Insiders own 4.43% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 target price on shares of AdaptHealth in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.70.

AdaptHealth Stock Performance

NASDAQ:AHCO opened at $11.13 on Friday. AdaptHealth Corp. has a fifty-two week low of $6.37 and a fifty-two week high of $11.90. The firm has a market capitalization of $1.48 billion, a PE ratio of -2.11, a PEG ratio of 1.73 and a beta of 1.10. The stock’s fifty day moving average is $10.73 and its 200 day moving average is $10.44. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.15.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). AdaptHealth had a negative net margin of 21.20% and a positive return on equity of 9.58%. The firm had revenue of $805.98 million during the quarter, compared to the consensus estimate of $802.62 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. On average, sell-side analysts anticipate that AdaptHealth Corp. will post 0.87 earnings per share for the current year.

AdaptHealth Company Profile

AdaptHealth Corp., together with its subsidiaries, sells home medical equipment (HME), medical supplies, and home and related services in the United States. The company provides sleep therapy equipment, supplies, and related services, such as CPAP and bi-PAP services to individuals suffering from obstructive sleep apnea; medical devices and supplies, including continuous glucose monitors and insulin pumps for the treatment of diabetes; HME to patients discharged from acute care and other facilities; oxygen and related chronic therapy services in the home; and other HME devices and supplies on behalf of chronically ill patients with wound care, urological, incontinence, ostomy, and nutritional supply needs.