HGC Investment Management Inc. Acquires Shares of 30,494 R1 RCM Inc. (NASDAQ:RCM)

HGC Investment Management Inc. bought a new stake in shares of R1 RCM Inc. (NASDAQ:RCM) in the third quarter, HoldingsChannel.com reports. The firm bought 30,494 shares of the healthcare provider’s stock, valued at approximately $432,000.

Other hedge funds also recently bought and sold shares of the company. ClearAlpha Technologies LP boosted its stake in R1 RCM by 41.6% in the third quarter. ClearAlpha Technologies LP now owns 105,381 shares of the healthcare provider’s stock valued at $1,493,000 after acquiring an additional 30,937 shares in the last quarter. Bardin Hill Management Partners LP lifted its stake in shares of R1 RCM by 2.0% in the third quarter. Bardin Hill Management Partners LP now owns 535,939 shares of the healthcare provider’s stock valued at $7,594,000 after purchasing an additional 10,728 shares during the period. Glazer Capital LLC purchased a new stake in R1 RCM in the third quarter valued at approximately $135,678,000. Westchester Capital Management LLC acquired a new stake in R1 RCM in the third quarter valued at $2,714,000. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of R1 RCM during the third quarter worth $213,000. Institutional investors own 61.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Morgan Stanley lowered shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 8th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $14.30 price target on shares of R1 RCM in a research report on Friday, October 4th. Truist Financial lowered their target price on R1 RCM from $16.00 to $14.30 and set a “hold” rating for the company in a research note on Thursday, August 8th. Finally, TD Cowen restated a “hold” rating and issued a $14.30 price target (down previously from $20.00) on shares of R1 RCM in a research note on Monday, August 5th. Thirteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $15.41.

R1 RCM Stock Performance

NASDAQ:RCM opened at $14.31 on Tuesday. The firm has a market capitalization of $6.04 billion, a P/E ratio of -95.39 and a beta of 0.84. R1 RCM Inc. has a twelve month low of $8.87 and a twelve month high of $15.12. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.76. The company has a fifty day moving average of $14.25 and a 200-day moving average of $13.54.

R1 RCM (NASDAQ:RCM) last released its earnings results on Tuesday, November 5th. The healthcare provider reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). R1 RCM had a negative return on equity of 2.18% and a negative net margin of 2.48%. The company had revenue of $656.80 million during the quarter, compared to analysts’ expectations of $640.93 million. R1 RCM’s quarterly revenue was up 14.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that R1 RCM Inc. will post -0.18 EPS for the current year.

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.