Private Management Group INC Has Cut Tenet Healthcare Corp (THC) Position as Stock Value Declined

September 30, 2018 - By Carolyn Hewitt

Tenet Healthcare Corporation (NYSE:THC) LogoInvestors sentiment increased to 1.17 in Q2 2018. Its up 0.30, from 0.87 in 2018Q1. It is positive, as 26 investors sold THC shares while 69 reduced holdings. 47 funds opened positions while 64 raised stakes. 103.39 million shares or 5.33% less from 109.21 million shares in 2018Q1 were reported. Acadian Asset Mngmt Ltd Liability Company accumulated 41,830 shares. Stevens Cap Mngmt Lp has 0.02% invested in Tenet Healthcare Corporation (NYSE:THC) for 18,105 shares. Ls Inv Advisors Limited Liability reported 2,213 shares stake. Northwestern Mutual Wealth holds 0% in Tenet Healthcare Corporation (NYSE:THC) or 1,226 shares. Oregon Public Employees Retirement Fund has invested 0.02% in Tenet Healthcare Corporation (NYSE:THC). Glenmede Trust Na, a Pennsylvania-based fund reported 1,240 shares. Ubs Asset Management Americas reported 168,309 shares. Stonehill invested in 112,533 shares or 1.48% of the stock. New Mexico Educational Retirement Board holds 0.03% of its portfolio in Tenet Healthcare Corporation (NYSE:THC) for 19,100 shares. 65,398 are owned by Citigroup. Orbimed Advsr Ltd reported 0.15% in Tenet Healthcare Corporation (NYSE:THC). Hood River Capital Mngmt Ltd Llc invested in 449,632 shares or 0.78% of the stock. State Street Corp reported 2.99M shares. Moreover, Jennison Associates has 0% invested in Tenet Healthcare Corporation (NYSE:THC) for 17,953 shares. Healthcor Mngmt LP has invested 0.17% of its portfolio in Tenet Healthcare Corporation (NYSE:THC).

Private Management Group Inc decreased its stake in Tenet Healthcare Corp (THC) by 16.8% based on its latest 2018Q2 regulatory filing with the SEC. Private Management Group Inc sold 129,500 shares as the company’s stock declined 22.32% while stock markets rallied. The institutional investor held 641,120 shares of the hospital and nursing management company at the end of 2018Q2, valued at $21.52 million, down from 770,620 at the end of the previous reported quarter. Private Management Group Inc who had been investing in Tenet Healthcare Corp for a number of months, seems to be less bullish one the $2.91B market cap company. The stock increased 0.32% or $0.09 during the last trading session, reaching $28.46. About 1.24M shares traded. Tenet Healthcare Corporation (NYSE:THC) has risen 67.46% since September 30, 2017 and is uptrending. It has outperformed by 51.84% the S&P500.

Private Management Group Inc, which manages about $2.22 billion and $2.03B US Long portfolio, upped its stake in Istar Inc (NYSE:STAR) by 310,476 shares to 1.80M shares, valued at $19.41 million in 2018Q2, according to the filing. It also increased its holding in Vornado Rlty Tr (NYSE:VNO) by 50,134 shares in the quarter, for a total of 202,603 shares, and has risen its stake in Owens Ill Inc (NYSE:OI).

Analysts await Tenet Healthcare Corporation (NYSE:THC) to report earnings on October, 26. They expect $0.10 earnings per share, up 158.82 % or $0.27 from last year’s $-0.17 per share. THC’s profit will be $10.24 million for 71.15 P/E if the $0.10 EPS becomes a reality. After $0.49 actual earnings per share reported by Tenet Healthcare Corporation for the previous quarter, Wall Street now forecasts -79.59 % negative EPS growth.

More news for Tenet Healthcare Corporation (NYSE:THC) were recently published by: Bizjournals.com, which released: “Tower Health forms joint venture to acquire, develop ambulatory care centers” on September 27, 2018. Seekingalpha.com‘s article titled: “Tracking Larry Robbins’ Glenview Capital Management Portfolio – Q2 2018 Update” and published on September 03, 2018 is yet another important article.

Tenet Healthcare Corporation (NYSE:THC) Ratings Coverage

Among 9 analysts covering Tenet Healthcare (NYSE:THC), 3 have Buy rating, 2 Sell and 4 Hold. Therefore 33% are positive. Tenet Healthcare had 10 analyst reports since April 17, 2018 according to SRatingsIntel. The rating was maintained by JP Morgan with “Underweight” on Friday, August 10. The rating was maintained by SunTrust with “Hold” on Tuesday, April 17. The company was maintained on Friday, May 4 by Credit Suisse. Jefferies downgraded Tenet Healthcare Corporation (NYSE:THC) on Friday, June 29 to “Hold” rating. The firm earned “Buy” rating on Monday, July 23 by Citigroup. Leerink Swann maintained the stock with “Buy” rating in Wednesday, May 2 report. Mizuho maintained the shares of THC in report on Wednesday, May 9 with “Buy” rating. The rating was maintained by Morgan Stanley on Wednesday, May 2 with “Underweight”. Citigroup maintained the stock with “Buy” rating in Tuesday, May 8 report.

Tenet Healthcare Corporation (NYSE:THC) Institutional Positions Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter: