American Century Companies Inc. has enhanced its investment in Brookdale Senior Living Inc. (NYSE: BKD) by 2.3% during the third quarter of this year. According to the company’s latest Form 13F filing with the Securities and Exchange Commission (SEC), American Century now holds approximately 3,534,675 shares of Brookdale, having purchased an additional 79,962 shares during this period. This investment represents about 1.51% of Brookdale’s total shares, valued at approximately $29.94 million as of the end of the third quarter.
Several other institutional investors have also adjusted their positions in Brookdale Senior Living recently. For instance, Quantbot Technologies LP acquired a new stake worth $382,000, while Fox Run Management L.L.C. and Levin Capital Strategies L.P. invested $103,000 and $85,000, respectively. CenterBook Partners LP made a notable investment of $2.18 million, and GSA Capital Partners LLP added $725,000 to their holdings.
Analysts Offer Mixed Ratings on Brookdale Senior Living
Market analysts have shared varied perspectives on Brookdale’s performance. The Royal Bank of Canada reaffirmed an “outperform” rating in a report released on February 20, 2024. Zacks Research upgraded the company from a “hold” to a “strong-buy” rating on February 18, 2024. Conversely, Weiss Ratings maintained a “sell” rating, indicating a cautious outlook for the stock.
Overall, one analyst has assigned a Strong Buy rating, five analysts issued Buy ratings, and one analyst provided a Sell rating for the company. According to MarketBeat.com, Brookdale currently holds a consensus rating of “Moderate Buy” and an average price target of $14.00.
Stock Performance and Financial Overview
As of the latest trading session, shares of Brookdale Senior Living opened at $14.88. The stock has shown significant movement, with a fifty-day simple moving average of $13.75 and a two-hundred day simple moving average of $10.77. Over the past year, Brookdale has experienced a low of $4.97 and a high of $17.09.
Financially, Brookdale Senior Living reported a negative earnings per share of ($0.17) for the last quarter, which fell short of analysts’ expectations of ($0.16) by ($0.01). The company recorded revenues of $754.09 million, slightly above the consensus estimate of $753.60 million. Analysts anticipate that Brookdale Senior Living will report an earnings per share figure of ($0.56) for the current financial year.
Brookdale Senior Living Inc., one of the largest operators of senior living communities in the United States, provides a diverse range of living options, including independent living, assisted living, memory care, and skilled nursing services. With more than 700 communities across the United States and Puerto Rico, Brookdale focuses on enhancing the quality of life for older adults through various wellness programs and amenities.
As the company navigates the complexities of the senior living market, the recent uptick in institutional investments may signal growing confidence in its future prospects.
