Rhumbline Advisers cut its stake in shares of R1 RCM Inc (NASDAQ:RCM) by 15.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 89,744 shares of the financial services provider’s stock after selling 17,008 shares during the period. Rhumbline Advisers’ holdings in R1 RCM were worth $396,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Balter Liquid Alternatives LLC lifted its position in R1 RCM by 57.3% during the 4th quarter. Balter Liquid Alternatives LLC now owns 563,047 shares of the financial services provider’s stock worth $2,483,000 after acquiring an additional 205,134 shares in the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new position in R1 RCM during the 4th quarter worth approximately $1,692,000. Schwab Charles Investment Management Inc. lifted its position in R1 RCM by 12.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 374,058 shares of the financial services provider’s stock worth $1,650,000 after acquiring an additional 39,950 shares in the last quarter. Bank of New York Mellon Corp lifted its position in R1 RCM by 13.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 317,302 shares of the financial services provider’s stock worth $1,178,000 after acquiring an additional 36,847 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of R1 RCM by 1,692.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 312,286 shares of the financial services provider’s stock valued at $1,159,000 after purchasing an additional 294,860 shares in the last quarter. 49.27% of the stock is currently owned by hedge funds and other institutional investors.
Shares of RCM opened at $7.10 on Friday. R1 RCM Inc has a 52-week low of $3.05 and a 52-week high of $7.99. The company has a market capitalization of $746.16, a price-to-earnings ratio of -16.14 and a beta of -0.75.
R1 RCM (NASDAQ:RCM) last announced its earnings results on Friday, March 9th. The financial services provider reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.07). R1 RCM had a negative net margin of 13.07% and a negative return on equity of 31.68%. The business had revenue of $140.30 million during the quarter, compared to analyst estimates of $131.20 million. equities research analysts anticipate that R1 RCM Inc will post -0.15 earnings per share for the current year.
RCM has been the topic of a number of recent analyst reports. BidaskClub lowered R1 RCM from a “buy” rating to a “hold” rating in a research report on Friday, January 19th. Zacks Investment Research raised R1 RCM from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. Robert W. Baird reaffirmed a “hold” rating and issued a $7.00 target price on shares of R1 RCM in a research report on Monday, February 26th. ValuEngine raised R1 RCM from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Cantor Fitzgerald initiated coverage on R1 RCM in a research report on Tuesday, March 13th. They issued an “overweight” rating and a $9.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. R1 RCM has an average rating of “Buy” and an average price target of $7.50.
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R1 RCM Profile
R1 RCM Inc is a provider of revenue cycle management (RCM) and physician advisory services (PAS) to healthcare providers. The Company is engaged in providing management services of revenue cycle operations for the United States-based hospitals and other medical services providers. Its primary service offering consists of end-to-end RCM, which the Company deploys through a co-managed relationship or an operating partner relationship.
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