Acuitas Investments LLC Acquires New Holdings in FONAR Co. (NASDAQ:FONR)

Acuitas Investments LLC acquired a new stake in FONAR Co. (NASDAQ:FONR) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 218,646 shares of the medical equipment provider’s stock, valued at approximately $4,277,000. FONAR comprises 2.1% of Acuitas Investments LLC’s holdings, making the stock its 8th biggest position. Acuitas Investments LLC owned approximately 3.39% of FONAR at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Carmel Capital Partners LLC increased its position in FONAR by 725.1% during the 4th quarter. Carmel Capital Partners LLC now owns 12,088 shares of the medical equipment provider’s stock valued at $236,000 after purchasing an additional 10,623 shares during the period. Brandywine Global Investment Management LLC increased its position in FONAR by 1.9% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 87,606 shares of the medical equipment provider’s stock valued at $1,349,000 after purchasing an additional 1,600 shares during the period. Finally, Money Concepts Capital Corp increased its position in FONAR by 1.3% during the 3rd quarter. Money Concepts Capital Corp now owns 311,822 shares of the medical equipment provider’s stock valued at $4,802,000 after purchasing an additional 3,870 shares during the period. Institutional investors and hedge funds own 50.64% of the company’s stock.

FONAR Trading Up 1.1 %

NASDAQ:FONR traded up $0.18 on Wednesday, reaching $16.19. 17,005 shares of the stock traded hands, compared to its average volume of 18,899. The firm has a market capitalization of $102.48 million, a price-to-earnings ratio of 8.80 and a beta of 1.12. The company’s 50 day moving average is $20.81 and its 200-day moving average is $18.90. FONAR Co. has a 1-year low of $12.13 and a 1-year high of $24.05.

FONAR (NASDAQ:FONR) last released its quarterly earnings data on Wednesday, February 14th. The medical equipment provider reported $0.54 earnings per share for the quarter. The company had revenue of $25.39 million during the quarter. FONAR had a net margin of 12.63% and a return on equity of 8.47%.

FONAR Profile

FONAR Corporation, together with its subsidiaries, engages in the research, development, production, and marketing of magnetic resonance imaging (MRI) scanners for the detection and diagnosis of human diseases in the United States. The company operates in two segments, Medical Equipment, and Physician Management and Diagnostic Services.