Acadia Healthcare Stock Down 60% as One Investor Slashes Stake to Less Than 1% of Assets
Key Points
Engine Capital sold 2,256,741 shares of Acadia Healthcare, with an estimated transaction value of $42.70 million based on quarterly average prices.
The quarter-end value of the ACHC stake decreased by $59.35 million, reflecting both trading and stock price movement.
The post-trade holding stood at 328,833 shares valued at $4.67 million.
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On February 17, 2026, Engine Capital Management reported selling 2,256,741 shares of Acadia Healthcare (NASDAQ:ACHC), an estimated $42.70 million trade based on quarterly average pricing.
What happened
According to a filing with the Securities and Exchange Commission dated February 17, 2026, Engine Capital Management reduced its position in Acadia Healthcare by 2,256,741 shares. The estimated transaction value was $42.70 million, calculated using the average closing price during the fourth quarter of 2025. The quarter-end value of the ACHC stake dropped by $59.35 million, a figure reflecting both trading activity and price changes.
What else to know
- The sell action leaves the ACHC stake at just 0.64% of 13F AUM.
- Top holdings after the filing:
- NYSE:AVTR: $136.69 million (21% of AUM)
- NYSE:NATL: $98.38 million (15% of AUM)
- NYSE: UNF: $88.71 million (12% of AUM)
- NASDAQ:OFIX: $64.47 million (10% of AUM)
- NASDAQ:NXST: $40.46 million (6% of AUM)
- As of February 17, 2026, ACHC shares were priced at $16.42, down 60.0% over the past year and badly trailing the S&P 500’s roughly 13% gain in the same period.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $3.27 billion |
| Net Income (TTM) | $107.36 million |
| Price (as of market close 2026-02-17) | $16.42 |
| One-Year Price Change | (60.04%) |
Company snapshot
- Acadia Healthcare provides behavioral healthcare services through inpatient psychiatric hospitals, specialty treatment facilities, residential treatment centers, and outpatient clinics.
- The firm serves individuals in need of behavioral health treatment in the United States and Puerto Rico, targeting both adults and adolescents.
Acadia Healthcare runs a broad network of behavioral health facilities, serving patients across the U.S. and Puerto Rico. It is a leading provider of behavioral healthcare services, operating a large network of facilities focused on mental health and addiction treatment. The company leverages its scale and specialized care delivery to address a broad spectrum of behavioral health needs across diverse patient populations.
What this transaction means for investors
Capital tends to flee when confidence erodes faster than fundamentals can stabilize. A 60% one-year drop will do that, especially in healthcare, where reimbursement risk and regulatory scrutiny never really go away.
Acadia is not a shrinking business on paper. Late last month, the company reaffirmed 2025 guidance calling for revenue between $3.28 billion and $3.30 billion, adjusted EBITDA of $601 million to $611 million, and adjusted EPS of $1.94 to $2.04. It operates 278 facilities with roughly 12,500 beds across 40 states and Puerto Rico—scale that matters in behavioral health, where demand remains structurally strong.
But leadership turnover adds another layer of uncertainty. Debbie Osteen has stepped back in as CEO as the board evaluates paths to enhance shareholder value. At the same time, Medicaid financing changes under the OBBBA and broader macro pressures hang over providers. Within the broader portfolio, the remaining 0.6% weight is small compared with larger allocations to diversified industrial and services names. That shift suggests capital is rotating toward steadier cash generators.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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