Why One Fund Just Bet $64 Million on a Healthcare Stock Down 63% This Past Year

On November 14, New York City-based Engine Capital Management disclosed a new position in Acadia Healthcare (NASDAQ:ACHC), acquiring 2.6 million shares valued at $64 million.According to a Securities and Exchange Commission (SEC) filing dated November 14, Engine Capital Management initiated a new position in Acadia Healthcare, acquiring nearly 2.6 million shares. The stake was valued at $64 million at the end of the third quarter. This transaction brought the fund’s total reported U.S. equity positions to 27.Engine Capital’s new position in ACHC represents 7.6% of its reportable assets under management as of September 30.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool