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North Tide Capital Cuts Exposure to This Home Healthcare Company

Published on July 28, 2016 at 10:55 am by Insider Monkey Staff in Hedge Funds, News
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Conan Laughlin‘s fund, North Tide Capital, has recently taken steps to reduce its position in Almost Family Inc (NASDAQ:AFAM). Whereas the fund held 1.25 million shares at the end of the first quarter, the positions has been reduced to 1.03 million shares, which account for 9.9% of the company’s common stock, according to a recent filing with the Securities and Exchange Commission.

A provider of home health services, Almost Family Inc (NASDAQ:AFAM) has a market cap of $416 million and its shares are currently trading at a trailing Price to Earnings (P/E) ratio of 21, lower than most of its peers. So far this year, the stock has not been in a clear trend, although it is still ahead by 6% for the year.

For the current quarter, analysts expect Almost Family to report revenues of $155 million and earnings of $0.64 per share. The consensus among analysts is a ‘Hold’ rating and an average price target of $48.67 per share, which implies an upside potential of approximately 21%.

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Almost Family Inc (NASDAQ:AFAM) is not a very popular stock among the hedge funds followed by Insider Monkey, with only 14 of them having reported a long position at the end of March, up from 13 registered three months earlier. Together the funds held roughly 18% of the company’s common stock. North Tide Capital’s stake was by far the largest at the end of the quarter, with Jim Simons‘ Renaissance Technologies having reported ownership of just 93,500 shares, while Israel Englander‘s Millennium Management held 83,263 shares, down by 33% over the quarter.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
North Tide Capital Master 0 920,250 0 920,250 920,250 8.9%
North Tide Capital 0 1,029,300 0 1,029,300 1,029,300 9.9%
Conan Laughlin 0 1,029,300 0 1,029,300 1,029,300 9.9%

Page 1 of 6 – SEC Filing

SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
ALMOST FAMILY, INC.
(Name of Issuer)
Common Stock, $0.10 par value
(Title of Class of Securities)
020409108
(CUSIP Number)
July 12, 2016
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[ ]            Rule 13d-1(b)
[x]            Rule 13d-1(c)
[ ]            Rule 13d-1(d)
*            The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.  Beneficial ownership information contained herein is given as of the date listed above.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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