Formidable Asset Management Lowers stake in AdCare Health Systems (ADK)

AdCare Health Systems (ADK) : Formidable Asset Management reduced its stake in AdCare Health Systems by 0.45% during the most recent quarter end. The investment management company now holds a total of 1,359,799 shares of AdCare Health Systems which is valued at $3,108,501 after selling 6,157 shares in AdCare Health Systems , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.AdCare Health Systems makes up approximately 1.71% of Formidable Asset Management’s portfolio.

Other Hedge Funds, Including , Citadel Advisors added ADK to its portfolio by purchasing 15,966 company shares during the most recent quarter which is valued at $36,498.Gabelli Funds boosted its stake in ADK in the latest quarter, The investment management firm added 98,573 additional shares and now holds a total of 768,643 shares of AdCare Health Systems which is valued at $1,798,625. AdCare Health Systems makes up approx 0.01% of Gabelli Funds’s portfolio. Simplex Trading sold out all of its stake in ADK during the most recent quarter. The investment firm sold 5,690 shares of ADK which is valued $11,721.

AdCare Health Systems opened for trading at $2.22 and hit $2.33 on the upside on Monday, eventually ending the session at $2.23, with a gain of 1.83% or 0.04 points. The heightened volatility saw the trading volume jump to 11,954 shares. Company has a market cap of $44 M.

AdCare Health Systems Inc. owns operates and manages skilled nursing facilities and assisted living facilities. The Company’s facilities provide a range of health care services to patients and residents including skilled nursing and assisted living services social services various therapy services and other rehabilitative and healthcare services for both long-term residents and short-stay patients. It owns and operates around 22 facilities leases and operates around six facilities and manages approximately four facilities for third-parties. It manages around 32 facilities consisting of 29 skilled nursing facilities two assisted living facilities and one independent living/senior housing facility totaling approximately 3600 beds. It also leases around three owned and subleased five leased skilled nursing and rehabilitation facilities to local third-party operators in the states of Alabama and Georgia with the operational capacity of approximately 820 operational beds.

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