Should You Hold Acadia Healthcare Company (ACHC)?
Aristotle Capital Boston, LLC, an investment advisor, released its “Small Cap Equity Strategy” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund delivered a return of 0.97% net of fees (1.10% gross of fees), trailing the Russell 2000 Index’s 2.74% total return. Security selection drove the fund to underperform in the quarter, while allocation effects positively contributed. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Aristotle Small Cap Equity Strategy highlighted stocks like Acadia Healthcare Company, Inc. (NASDAQ:ACHC) in the first quarter 2023 investor letter. Headquartered in Franklin, Tennessee, Acadia Healthcare Company, Inc. (NASDAQ:ACHC) is a behavioral healthcare services provider. On June 20, 2023, Acadia Healthcare Company, Inc. (NASDAQ:ACHC) stock closed at $72.92 per share. One-month return of Acadia Healthcare Company, Inc. (NASDAQ:ACHC) was 3.73%, and its shares gained 7.81% of their value over the last 52 weeks. Acadia Healthcare Company, Inc. (NASDAQ:ACHC) has a market capitalization of $6.711 billion.
Aristotle Small Cap Equity Strategy made the following comment about Acadia Healthcare Company, Inc. (NASDAQ:ACHC) in its first quarter 2023 investor letter:
"Acadia Healthcare Company, Inc. (NASDAQ:ACHC), a provider of behavioral health and addiction services to patients in a variety of inpatient and outpatient settings, declined following the company’s quarterly earnings results released during the period. While the company’s fundamentals continue to advance, it appears the share price overreaction following the release of company’s earnings can be attributed to some near-term labor cost headwinds that came in higher than expected during the period. Nevertheless, we maintain a position as we believe the company remains well positioned to capitalize on the favorable supply/demand outlook for behavioral health, positive reimbursement trends and continued execution of its growth strategy."
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Acadia Healthcare Company, Inc. (NASDAQ:ACHC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held Acadia Healthcare Company, Inc. (NASDAQ:ACHC) at the end of first quarter 2023 which was 32 in the previous quarter.
We discussed Acadia Healthcare Company, Inc. (NASDAQ:ACHC) in another article and shared Alger Spectra Fund's views on the company. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
