R1 RCM Inc. (NASDAQ:RCM) Shares Purchased by Rhumbline Advisers

Posted by on Sep 6th, 2023

Rhumbline Advisers raised its position in shares of R1 RCM Inc. (NASDAQ:RCM – Free Report) by 1.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 478,625 shares of the healthcare provider’s stock after purchasing an additional 6,501 shares during the period. Rhumbline Advisers owned 0.11% of R1 RCM worth $7,179,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RCM. Point72 Middle East FZE bought a new position in shares of R1 RCM in the fourth quarter valued at approximately $29,000. Captrust Financial Advisors boosted its holdings in shares of R1 RCM by 81.7% in the second quarter. Captrust Financial Advisors now owns 1,664 shares of the healthcare provider’s stock valued at $35,000 after acquiring an additional 748 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of R1 RCM by 67.2% in the first quarter. Parkside Financial Bank & Trust now owns 2,972 shares of the healthcare provider’s stock valued at $45,000 after acquiring an additional 1,195 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in shares of R1 RCM by 11.0% in the second quarter. Macquarie Group Ltd. now owns 4,159 shares of the healthcare provider’s stock valued at $88,000 after acquiring an additional 411 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of R1 RCM by 53.4% in the first quarter. Tower Research Capital LLC TRC now owns 7,120 shares of the healthcare provider’s stock valued at $107,000 after acquiring an additional 2,479 shares in the last quarter. 61.10% of the stock is owned by institutional investors and hedge funds.

R1 RCM Stock Down 2.2 %

RCM stock opened at $17.23 on Wednesday. R1 RCM Inc. has a 12-month low of $6.71 and a 12-month high of $22.74. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.62. The company has a market cap of $7.22 billion, a price-to-earnings ratio of -107.63 and a beta of 0.84. The company has a 50 day moving average of $17.28 and a two-hundred day moving average of $16.07.

Wall Street Analyst Weigh In

RCM has been the subject of a number of research reports. Jefferies Financial Group raised their target price on shares of R1 RCM from $20.00 to $22.00 in a report on Friday, June 16th. Barclays raised their target price on shares of R1 RCM from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, August 3rd. Cantor Fitzgerald initiated coverage on shares of R1 RCM in a report on Tuesday, August 15th. They set an “overweight” rating and a $20.00 target price for the company. Guggenheim restated a “buy” rating and set a $21.00 target price on shares of R1 RCM in a report on Friday, July 21st. Finally, Morgan Stanley raised their target price on shares of R1 RCM from $16.00 to $19.00 and gave the stock an “equal weight” rating in a report on Thursday, August 3rd. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, R1 RCM has a consensus rating of “Moderate Buy” and a consensus target price of $19.06.

View Our Latest Research Report on R1 RCM

Insiders Place Their Bets

In other news, Director John B. Henneman III sold 50,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $17.17, for a total transaction of $858,500.00. Following the transaction, the director now owns 72,114 shares in the company, valued at approximately $1,238,197.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Richard B. Jr. Evans sold 17,000 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $16.84, for a total value of $286,280.00. Following the transaction, the insider now directly owns 124,007 shares in the company, valued at approximately $2,088,277.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Henneman III sold 50,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $17.17, for a total transaction of $858,500.00. Following the completion of the transaction, the director now owns 72,114 shares in the company, valued at $1,238,197.38. The disclosure for this sale can be found here. Insiders sold a total of 79,000 shares of company stock worth $1,345,060 in the last quarter. 37.00% of the stock is currently owned by corporate insiders.

R1 RCM Profile

(Free Report)

R1 RCM Inc provides technology-driven solutions that transform the patient experience and financial performance of hospitals, health systems, and physician groups. It offers end-to-end revenue cycle management (RCM) services, which address the spectrum of revenue cycle challenges faced by healthcare providers.

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Institutional Ownership by Quarter for R1 RCM (NASDAQ:RCM)

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