Wasatch Advisors Cuts Ensign Group Stake to 8.0%
Ticker: ENSG · Form: SC 13G/A · Filed: Feb 9, 2024 · CIK: 1125376
Complexity: simple
Sentiment: bearish
Topics: institutional-ownership, stake-reduction, amendment, healthcare-services
TL;DR
**Wasatch Advisors just trimmed its Ensign Group stake to 8.0%.**
AI Summary
Wasatch Advisors LP, an investment adviser, filed an amended Schedule 13G/A on February 9, 2024, disclosing a decrease in its ownership of The Ensign Group, Inc. common stock. Wasatch now beneficially owns 4,531,698 shares, representing 8.0% of the company's common stock, down from a previously reported higher percentage. This matters to investors because a significant institutional investor has reduced its stake, which could signal a change in their outlook on the company's future performance or valuation.
Why It Matters
A major institutional investor, Wasatch Advisors LP, has reduced its ownership in The Ensign Group, Inc., which could be interpreted by the market as a less bullish stance on the company's prospects.
Risk Assessment
Risk Level: medium — A reduction in ownership by a large institutional investor like Wasatch Advisors could indicate a perceived increase in risk or a less favorable outlook for The Ensign Group, Inc.
Analyst Insight
A smart investor would investigate the reasons behind Wasatch Advisors LP's reduction in stake, potentially looking for any new negative developments or changes in the company's fundamentals that might have prompted this move, before making any investment decisions regarding The Ensign Group, Inc.
Key Numbers
- 4,531,698 — Shares Owned (The total number of Ensign Group, Inc. common shares Wasatch Advisors LP now beneficially owns.)
- 8.0% — Percent of Class Owned (The percentage of Ensign Group, Inc. common stock Wasatch Advisors LP now owns, indicating a decrease from previous filings.)
Key Players & Entities
- Wasatch Advisors LP (company) — the investment adviser filing the SC 13G/A
- The Ensign Group, Inc. (company) — the issuer of the common stock
- 4,531,698 (dollar_amount) — number of shares of common stock beneficially owned by Wasatch Advisors LP
- 8.0% (dollar_amount) — percentage of The Ensign Group, Inc. common stock owned by Wasatch Advisors LP
Forward-Looking Statements
- Other institutional investors might review their positions in The Ensign Group, Inc. following Wasatch Advisors LP's reduction. (The Ensign Group, Inc.) — medium confidence, target: Within the next 3-6 months
FAQ
What is the primary purpose of this SC 13G/A filing by Wasatch Advisors LP?
The primary purpose of this SC 13G/A filing is to amend a previous Schedule 13G filing, indicating a change in Wasatch Advisors LP's beneficial ownership of The Ensign Group, Inc. common stock, specifically a reduction to 8.0% of the class.
How many shares of The Ensign Group, Inc. common stock does Wasatch Advisors LP now beneficially own?
Wasatch Advisors LP now beneficially owns 4,531,698 shares of The Ensign Group, Inc. common stock, as stated in Item 9 and Item 4(a) of the filing.
What percentage of The Ensign Group, Inc.'s common stock does Wasatch Advisors LP own after this amendment?
After this amendment, Wasatch Advisors LP owns 8.0% of The Ensign Group, Inc.'s common stock, as detailed in Item 11 and Item 4(b) of the filing.
Does Wasatch Advisors LP have sole or shared voting and dispositive power over these shares?
Wasatch Advisors LP has sole voting power over 4,531,698 shares and sole dispositive power over 4,531,698 shares, with zero shared voting or dispositive power, according to Items 5-8 and Item 4(c) of the filing.
What is the CUSIP number for The Ensign Group, Inc. common stock mentioned in the filing?
The CUSIP number for The Ensign Group, Inc. common stock is 29358P101, as specified in Item 1 and Item 2(e) of the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 9, 2024 regarding ENSIGN GROUP, INC (ENSG).