In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Genesis Healthcare Inc. (NYSE:GEN) reported that Onex Corp has picked up 14,457,136 of common stock as of 2017-05-25.
The acquisition brings the aggregate amount owned by Onex Corp to a total of 14,457,136 representing less than 15.8% stake in the company.
For those not familiar with the company, Genesis Healthcare, Inc. is a holding company that provides post-acute care. The Company operates through three segments: inpatient services, which includes the operation of skilled nursing facilities and assisted or senior living facilities; rehabilitation therapy services, which includes its integrated and third-party rehabilitation and respiratory therapy services, and all other services. As of December 31, 2016, the Company offered inpatient services through its network of 499 skilled nursing and assisted/senior living facilities across 34 states, consisting of 473 skilled nursing facilities and 26 stand-alone assisted/senior living facilities. Its services focus primarily on the medical and physical issues facing elderly patients and are provided by its skilled nursing companies, assisted or senior living communities, integrated and third-party rehabilitation therapy business, and other ancillary services.
A glance at Genesis Healthcare Inc. (NYSE:GEN)’s key stats reveals a current market capitalization of 280.05 Million based on 76.84 Million shares outstanding and a price at last close of $1.92 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-11-19, Whitman picked up 43,200 at a purchase price of $4.54. This brings their total holding to 6,937,750 as of the date of the filing.
On the sell side, the most recent transaction saw Young unload 10,000 shares at a sale price of $2.38. This brings their total holding to 160,874.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Genesis Healthcare Inc. (NYSE:GEN) as things move forward to see if its progress aligns with these transactions.
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