Regis Management CO LLC lessened its position in R1 RCM Inc (NASDAQ:RCM) by 8.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,511 shares of the financial services provider’s stock after selling 9,276 shares during the quarter. Regis Management CO LLC owned about 0.09% of R1 RCM worth $1,340,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Citadel Advisors LLC increased its holdings in shares of R1 RCM by 1,112.7% during the 2nd quarter. Citadel Advisors LLC now owns 724,997 shares of the financial services provider’s stock worth $9,120,000 after purchasing an additional 665,215 shares during the period. Cubist Systematic Strategies LLC increased its holdings in shares of R1 RCM by 259.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 107,813 shares of the financial services provider’s stock worth $1,356,000 after purchasing an additional 77,854 shares during the period. Marshall Wace LLP increased its holdings in shares of R1 RCM by 10,414.6% during the 2nd quarter. Marshall Wace LLP now owns 115,661 shares of the financial services provider’s stock worth $1,455,000 after purchasing an additional 114,561 shares during the period. Morgan Stanley increased its holdings in shares of R1 RCM by 4.9% during the 2nd quarter. Morgan Stanley now owns 686,152 shares of the financial services provider’s stock worth $8,632,000 after purchasing an additional 32,295 shares during the period. Finally, Alberta Investment Management Corp bought a new position in shares of R1 RCM during the 2nd quarter worth about $579,000. Hedge funds and other institutional investors own 70.75% of the company’s stock.
Shares of NASDAQ:RCM traded up $0.29 on Friday, hitting $10.71. 723,847 shares of the company were exchanged, compared to its average volume of 865,320. The company has a debt-to-equity ratio of 106.30, a quick ratio of 0.90 and a current ratio of 0.90. The company’s 50 day moving average price is $11.59 and its two-hundred day moving average price is $11.40. R1 RCM Inc has a one year low of $7.10 and a one year high of $13.19. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -33.47 and a beta of 0.15.
R1 RCM (NASDAQ:RCM) last issued its earnings results on Tuesday, August 6th. The financial services provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.08). R1 RCM had a negative net margin of 2.22% and a negative return on equity of 249.01%. The business had revenue of $295.00 million for the quarter, compared to analyst estimates of $294.11 million. During the same quarter last year, the firm posted ($0.07) earnings per share. R1 RCM’s revenue was up 41.9% on a year-over-year basis. Research analysts predict that R1 RCM Inc will post -0.01 earnings per share for the current year.
Several research analysts have recently issued reports on the stock. Robert W. Baird set a $14.00 price objective on shares of R1 RCM and gave the stock a “buy” rating in a report on Thursday, September 12th. BidaskClub downgraded shares of R1 RCM from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Zacks Investment Research downgraded shares of R1 RCM from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, ValuEngine downgraded shares of R1 RCM from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 17th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. R1 RCM has an average rating of “Buy” and a consensus price target of $14.20.
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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