News Summary
NegativeAcadia Healthcare beat Q2 2026 earnings and revenue expectations but suffered a sharp 10.5% stock decline as investors focused on slower top-line growth, reserve costs, and expansion headwinds. Guidance was slightly raised, but analyst sentiment remains mixed (consensus Hold) with Raymond James downgrading to Outperform in September, reflecting ongoing concerns about Medicaid pressures and facility profitability.
Red flags
- •Sharp 10.5% stock decline post-earnings despite beating consensus estimates, signaling investor skepticism about underlying business momentum
- •Slower top-line growth cited as primary concern despite revenue beat
- •Medicaid headwinds, startup losses, and underperforming locations pressuring margins
- •Mixed analyst sentiment with consensus Hold rating; Raymond James downgrade from Strong Buy to Outperform
- •Net income declined to $10.93M in Q2 2026 despite revenue beat, suggesting profitability pressure
- •Major $105M employment lawsuit verdict and June 2026 data breach pose ongoing legal/regulatory risks
- •Execution risk on newly opened facilities and bed additions to offset structural headwinds
Funds Reducing / Exiting (3)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| Maverick Capital | Lee Ainslie | 0 | −1.3M | — | 0.4% | -100% | EXITED |
| Soros Fund Management | Soros Family Office | 0 | −23K | — | <0.1% | -100% | EXITED |
| Point72 | Steve Cohen | 0 | −537K | — | <0.1% | -100% | EXITED |
Shares Held reflects quarter-end positions for partial reductions. Funds that fully exited show 0 shares held. ∆ Shares is the change from the prior quarter. % of Fund is the prior-quarter position size — how much of the book was sold down.
Signal History
| Quarter | Direction | Funds | Score | vs SPY |
|---|---|---|---|---|
| Q2 2026 | SHORT | 3 | 1.63 | -6.3% |
| Q1 2026 | LONG | 4 | 3.63 | +12.1% |
Same issuer appearing in consecutive quarters — persistent institutional conviction. Returns are frozen at each archived quarter's last refresh.
Beneficial Ownership (13D/13G)
| Filer | Form | Shares | % of Class | Filed | Src |
|---|---|---|---|---|---|
| Khrom Investments Fund, LP | SC 13G/A | 647K | 0.7% | 2026-08-14 | ↗ |
| Wellington Management Group LLP | SC 13G/A | 5.7M | 6.2% | 2026-08-13 | ↗ |
| FMR LLC | SC 13G/A | 5.0M | 5.5% | 2026-08-06 | ↗ |
| BlackRock, Inc. | SC 13G/A | 13.8M | 15.0% | 2026-07-27 | ↗ |
| Khrom Investments Fund, LP | SC 13G/A | 5.2M | 5.7% | 2026-05-15 | ↗ |
| Wellington Management Group LLP | SC 13G/A | 9.1M | 9.9% | 2026-05-15 | ↗ |
| THE GOLDMAN SACHS GROUP, INC. | SC 13G/A | 1.5M | 1.6% | 2026-05-11 | ↗ |
| Vanguard Capital Management | SC 13G | 4.8M | 5.3% | 2026-04-29 | ↗ |
| Vanguard Portfolio Management | SC 13G | 5.1M | 5.5% | 2026-04-28 | ↗ |
SC 13D = active intent to influence control (10-day filing deadline after crossing 5%). SC 13G = passive accumulation, no intent to influence control.