SBC Medical Group Holdings Incorporated (NASDAQ:SBC) Sees Significant Growth in Short Interest

SBC Medical Group Holdings Incorporated (NASDAQ:SBC) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 338,368 shares, a growth of 46.4% from the March 31st total of 231,149 shares. Based on an average daily volume of 46,371 shares, the short-interest ratio is currently 7.3 days. Approximately 3.1% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SBC shares. BTIG Research started coverage on SBC Medical Group in a research report on Friday, March 6th. They set a “buy” rating and a $8.00 target price on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of SBC Medical Group in a research note on Friday, March 27th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, SBC Medical Group presently has a consensus rating of “Hold” and an average price target of $8.50.

SBC Medical Group Price Performance

Shares of NASDAQ:SBC traded down $0.02 during trading on Thursday, hitting $3.28. 29,530 shares of the stock were exchanged, compared to its average volume of 59,355. The company has a fifty day moving average price of $3.91 and a two-hundred day moving average price of $3.99. The company has a market cap of $336.45 million, a PE ratio of 6.69 and a beta of 0.99. The company has a current ratio of 3.78, a quick ratio of 3.74 and a debt-to-equity ratio of 0.13. SBC Medical Group has a 12-month low of $2.97 and a 12-month high of $5.75.

SBC Medical Group (NASDAQ:SBC) last announced its quarterly earnings results on Friday, March 27th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. The business had revenue of $39.57 million for the quarter, compared to analyst estimates of $45.19 million. SBC Medical Group had a return on equity of 20.76% and a net margin of 29.37%. On average, analysts forecast that SBC Medical Group will post 0.47 EPS for the current year.

Insider Transactions at SBC Medical Group

In other SBC Medical Group news, CEO Yoshiyuki Aikawa sold 4,422,900 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $2.12, for a total transaction of $9,376,548.00. Following the transaction, the chief executive officer owned 861,600 shares in the company, valued at approximately $1,826,592. The trade was a 83.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 7,987,900 shares of company stock worth $20,142,848. Insiders own 89.47% of the company’s stock.

Institutional Investors Weigh In On SBC Medical Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. purchased a new stake in SBC Medical Group in the 4th quarter valued at approximately $49,000. Russell Investments Group Ltd. lifted its stake in SBC Medical Group by 292.0% in the 4th quarter. Russell Investments Group Ltd. now owns 11,775 shares of the company’s stock valued at $51,000 after buying an additional 8,771 shares in the last quarter. Nuveen LLC purchased a new stake in SBC Medical Group in the 4th quarter valued at approximately $53,000. Wells Fargo & Company MN lifted its stake in SBC Medical Group by 195.1% in the 4th quarter. Wells Fargo & Company MN now owns 12,626 shares of the company’s stock valued at $54,000 after buying an additional 8,348 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in SBC Medical Group in the 2nd quarter valued at approximately $64,000. Hedge funds and other institutional investors own 60.82% of the company’s stock.

SBC Medical Group Company Profile

SBC Medical Group, Inc is a publicly traded healthcare management services company listed on the Nasdaq under the ticker SBC. The company specializes in supporting in-office ancillary service providers by offering a suite of administrative and operational solutions designed to streamline practice management and enhance revenue performance. Its core mission is to help physician practices, imaging centers and other ancillary service providers focus on patient care while outsourcing complex back-office functions.

The company’s primary offerings include revenue cycle management, medical billing and coding, compliance oversight and transcription services.