Alerts
Spinoff Report
ENSG: Blockbuster Performer Parent Returning for Another Spinoff
The Ensign Group, Inc. (ENSG) has outperformed the S&P SmallCap 600 Index since its 2014 Spinoff of CareTrust REIT, Inc. (CTRE) by +260%, and is now looking to perform another break-up by October 1, 2019. This time, it is separating its senior living and home health & hospice operations from its core skilled nursing and rehabilitative care segments. This Spinoff is structured similarly to the CTRE separation, and the Spinoff is listing on a market that offers significant margins for growth.

  • ENSG's +260% Performance Since 2014 Spinoff Outperforms S&P SmallCap 600 Index Return of +39%
  • PNTG's (Spinoff) Peers Have 17.5x EBITDA Margins / Significant FY20E Premium of 79.7%
  • Index Selling Pressure as Spin Exits the S&P SmallCap 600 Index on Listing / Parent has Minimal Leverage
  • Insider Buying Yields Director +175% Returns Since April 2017 / Distribution Ratio of 1:2
  • Spinoff Completes on September 30 / First Day of Trading October 1, 2019
To continue reading this article and to gain access to other
proprietary research please subscribe to :
Spinoff Report
Institutional Investors:
To subscribe please call us:    USA: +1 (973) 867 7760    UK: +44 (0) 845 459 7103
or click to subscribe to Edge research
Individual Investors:
Click to subscribe to Spinoff Report Lite
Need
Help?
To discuss any upcoming notes or for any urgent
assistance, please contact Jonathan Morgan
+44 (0) 845 459 7103 jm@edgecgroup.com