Professional
Added to YB: 2026-06-17
Pitch date: 2026-06-11
ENSG [bearish]
The Ensign Group, Inc.
-5.87%
current return
Author Info
Muddy Waters Research is a short seller that peels back the layers, often built up by seemingly respected but sycophantic law firms, auditors, and venal managements. Sign up for the newsletter.
Company Info
The Ensign Group, Inc. provides skilled nursing, senior living, and rehabilitative services. It operates through two segments: Skilled Services and Standard Bearer.
Market Cap
$8.7B
Pitch Price
$148.33
Price Target
N/A
Dividend
0.17%
EV/EBITDA
12.54
P/E
24.54
EV/Sales
1.97
Sector
Health Care Providers and Services
Category
special_situation
Muddy Waters is Short Ensign (NASDAQ: ENSG)
ENSG (short): Muddy Waters short. Alleges ~20% of SNFs rent Administrator licenses (~$2K/mo + $600/visit vs $120-140K real salaries) to fool regulators—potential FCA fraud of $1.7B-$7.1B. PI visits: 21% red flags. Understaffing drives ~210bps margin premium, 85% more severe-harm tags vs PACS. Compliance cuts 2027 EBIT ~35%; growth slows 11%→2%.
Read full article (34 min)