In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Genesis Healthcare Inc. (NYSE:GEN) reported that Welltower Inc. has picked up 6,564,576 of common stock as of 2017-03-24.
The acquisition brings the aggregate amount owned by Welltower Inc. to a total of 6,564,576 representing a 8.5% stake in the company.
For those not familiar with the company, Genesis Healthcare, Inc., formerly Skilled Healthcare Group, 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, including physician services and other healthcare related services. It offers inpatient services through its network of over 500 skilled nursing and assisted/senior living facilities in 34 states, consisting of over 475 skilled nursing facilities and over 35 stand-alone assisted/senior living facilities. Its skilled nursing and assisted/senior living facilities have over 61,000 licensed beds, with its states of operation in California, Maryland, Massachusetts, New Jersey, and Pennsylvania.
A glance at Genesis Healthcare Inc. (NYSE:GEN)’s key stats reveals a current market capitalization of 390.97 Million based on 75.19 Million shares outstanding and a price at last close of $2.53 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 13,540,305 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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