ATI Physical Therapy (NYSE:ATIP) Shares Up 4.4%

ATI Physical Therapy, Inc. (NYSE:ATIP)’s share price shot up 4.4% during trading on Thursday . The company traded as high as $3.18 and last traded at $3.06. 17,303 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 1,051,929 shares. The stock had previously closed at $2.93.

A number of brokerages have commented on ATIP. CJS Securities cut ATI Physical Therapy to a “market perform” rating in a research note on Wednesday, October 20th. Jefferies Financial Group upgraded ATI Physical Therapy from a “hold” rating to a “buy” rating and raised their target price for the company from $3.50 to $5.00 in a report on Friday. Citigroup assumed coverage on ATI Physical Therapy in a report on Monday, January 10th. They issued a “neutral” rating and a $3.50 target price on the stock. Finally, Zacks Investment Research lowered ATI Physical Therapy from a “buy” rating to a “hold” rating in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.28.

The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.09. The business has a fifty day moving average price of $3.40 and a 200-day moving average price of $4.52.

ATI Physical Therapy (NYSE:ATIP) last released its earnings results on Wednesday, November 17th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.25). The firm had revenue of $159.01 million during the quarter, compared to the consensus estimate of $160.46 million. As a group, research analysts anticipate that ATI Physical Therapy, Inc. will post 0.74 earnings per share for the current fiscal year.

In related news, Chairman John L. Larsen purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 30th. The shares were bought at an average price of $3.63 per share, for a total transaction of $36,300.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Several institutional investors have recently bought and sold shares of ATIP. Advent International Corp MA purchased a new stake in shares of ATI Physical Therapy in the 2nd quarter worth approximately $1,105,025,000. Grosvenor Holdings L.L.C. purchased a new stake in ATI Physical Therapy during the 3rd quarter valued at $37,267,000. Lazard Asset Management LLC purchased a new stake in ATI Physical Therapy during the 2nd quarter valued at $40,156,000. Bernzott Capital Advisors purchased a new stake in ATI Physical Therapy during the 3rd quarter valued at $14,312,000. Finally, Monarch Alternative Capital LP purchased a new stake in ATI Physical Therapy during the 3rd quarter valued at $10,832,000. Institutional investors own 89.54% of the company’s stock.

About ATI Physical Therapy (NYSE:ATIP)

ATI Physical Therapy, Inc provides outpatient physical therapy services in the United States. It offers physical therapy, workers' comp rehab, sports medicine, hand therapy, women's health, specialty therapies, home health, complimentary injury screenings, and fitness centers through its 900 locations.

See Also: Environmental, Social, and Governance (ESG) Investing

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