SG Americas Securities LLC purchased a new position in R1 RCM Inc (NASDAQ:RCM) during the third quarter, Holdings Channel reports. The fund purchased 144,798 shares of the financial services provider’s stock, valued at approximately $1,471,000.
Other institutional investors also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. purchased a new position in shares of R1 RCM during the third quarter valued at approximately $126,000. WINTON GROUP Ltd purchased a new stake in R1 RCM in the third quarter worth $139,000. GSA Capital Partners LLP purchased a new stake in R1 RCM in the second quarter worth $122,000. Teacher Retirement System of Texas purchased a new stake in R1 RCM in the second quarter worth $147,000. Finally, Allianz Asset Management GmbH purchased a new stake in R1 RCM in the first quarter worth $148,000. 57.42% of the stock is currently owned by institutional investors and hedge funds.
R1 RCM stock opened at $8.92 on Thursday. The company has a debt-to-equity ratio of 37.41, a quick ratio of 1.06 and a current ratio of 1.06. R1 RCM Inc has a 12 month low of $3.90 and a 12 month high of $11.00. The firm has a market capitalization of $983.31 million, a price-to-earnings ratio of -20.27 and a beta of -0.31.
R1 RCM (NASDAQ:RCM) last released its earnings results on Wednesday, November 7th. The financial services provider reported ($0.17) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.12). The company had revenue of $250.40 million during the quarter, compared to the consensus estimate of $240.09 million. R1 RCM had a negative return on equity of 132.32% and a negative net margin of 10.70%. The company’s revenue was up 103.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.08) earnings per share. On average, research analysts predict that R1 RCM Inc will post -0.18 EPS for the current year.
Several brokerages recently weighed in on RCM. Zacks Investment Research cut R1 RCM from a “hold” rating to a “sell” rating in a research note on Friday, November 16th. BidaskClub cut R1 RCM from a “buy” rating to a “hold” rating in a research note on Saturday, October 13th. TheStreet raised R1 RCM from a “d+” rating to a “c” rating in a research note on Tuesday, September 4th. Chardan Capital began coverage on R1 RCM in a research note on Tuesday, September 4th. They issued a “buy” rating and a $17.00 price target on the stock. Finally, Cantor Fitzgerald upped their price target on R1 RCM from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, August 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. R1 RCM presently has a consensus rating of “Buy” and a consensus price target of $11.05.
In other R1 RCM news, Director Charles J. Ditkoff sold 20,635 shares of the stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $8.47, for a total value of $174,778.45. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 59.40% of the stock is currently owned by corporate insiders.
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R1 RCM Profile
R1 RCM Inc provides revenue cycle management (RCM) for healthcare providers in the United States. It offers end-to-end RCM services to manage their revenue cycle operations, which encompass patient registration, insurance and benefit verification, medical treatment documentation and coding, and bill preparation and collection from patients and payers.
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