ABS Direct Equity Fund LLC Buys New Stake in R1 RCM Inc. (NASDAQ:RCM)

ABS Direct Equity Fund LLC purchased a new position in shares of R1 RCM Inc. (NASDAQ:RCM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 400,000 shares of the healthcare provider’s stock, valued at approximately $4,228,000. R1 RCM makes up 4.0% of ABS Direct Equity Fund LLC’s holdings, making the stock its 6th largest holding. ABS Direct Equity Fund LLC owned 0.10% of R1 RCM at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in RCM. Victory Capital Management Inc. grew its holdings in shares of R1 RCM by 23.5% during the fourth quarter. Victory Capital Management Inc. now owns 38,617 shares of the healthcare provider’s stock worth $408,000 after buying an additional 7,342 shares in the last quarter. Van ECK Associates Corp raised its holdings in R1 RCM by 20.5% in the 4th quarter. Van ECK Associates Corp now owns 6,141 shares of the healthcare provider’s stock valued at $65,000 after acquiring an additional 1,044 shares during the last quarter. Intact Investment Management Inc. lifted its stake in shares of R1 RCM by 236.0% during the 4th quarter. Intact Investment Management Inc. now owns 45,700 shares of the healthcare provider’s stock worth $483,000 after purchasing an additional 32,100 shares during the period. State of New Jersey Common Pension Fund D boosted its holdings in shares of R1 RCM by 59.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 235,419 shares of the healthcare provider’s stock worth $2,488,000 after purchasing an additional 87,984 shares during the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new stake in shares of R1 RCM in the fourth quarter valued at $469,000. 61.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RCM has been the subject of several research analyst reports. SVB Leerink assumed coverage on shares of R1 RCM in a research report on Monday, February 26th. They set an “outperform” rating and a $14.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $19.00 target price on shares of R1 RCM in a research report on Thursday, March 7th. Morgan Stanley restated an “overweight” rating and set a $17.00 price target on shares of R1 RCM in a research note on Tuesday, March 26th. Truist Financial reaffirmed a “hold” rating and issued a $16.00 price objective on shares of R1 RCM in a research note on Monday, April 1st. Finally, KeyCorp reiterated a “sector weight” rating on shares of R1 RCM in a report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.87.

Insider Buying and Selling

In other news, President John M. Sparby sold 10,046 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $14.33, for a total transaction of $143,959.18. Following the completion of the transaction, the president now owns 265,986 shares of the company’s stock, valued at $3,811,579.38. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 36.80% of the company’s stock.

R1 RCM Stock Up 0.2 %

Shares of NASDAQ:RCM traded up $0.02 on Friday, reaching $12.47. 952,940 shares of the company’s stock were exchanged, compared to its average volume of 1,682,509. The business’s 50-day moving average is $12.98 and its two-hundred day moving average is $11.43. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.57. R1 RCM Inc. has a fifty-two week low of $8.87 and a fifty-two week high of $18.70.

R1 RCM Profile

R1 RCM Inc provides technology-driven solutions for the financial performance and patient experience of health systems, hospitals, and physician groups. It provides operating partnership/end-to-end solutions, which manages multiple aspects of the revenue cycle to realize financial leverage and revenue improvement for hospital and physician customers.