Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of LHC Group
So what: Coliseum Capital Management recently disclosed that it bought 22,000 shares, something it must do as an owner of at least 10% of the company. The fund has been adding shares in recent months, and with shares trading near a 52-week low it saw a buying opportunity.
Now what: I'm not reading too much into this move, but this is the kind of move that day traders love to hear. And since LHC has a small market cap, the stock can be very volatile on days like today when the company gets more attention. I would leave this move alone and allow shares to settle lower if you're looking to get into the stock.
Interested in more info on LHC Group? Add it to your watchlist by clicking here.
