R1 RCM Inc. (NASDAQ:RCM) Position Reduced by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC cut its position in shares of R1 RCM Inc. (NASDAQ:RCM) by 88.9% during the 4th quarter, Holdings Channel reports. The firm owned 10,480 shares of the healthcare provider’s stock after selling 84,210 shares during the period. Pier 88 Investment Partners LLC’s holdings in R1 RCM were worth $111,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of RCM. Headlands Technologies LLC acquired a new stake in R1 RCM during the third quarter valued at approximately $36,000. Van ECK Associates Corp lifted its position in shares of R1 RCM by 28.5% during the 3rd quarter. Van ECK Associates Corp now owns 5,097 shares of the healthcare provider’s stock valued at $77,000 after acquiring an additional 1,130 shares during the last quarter. ANTIPODES PARTNERS Ltd lifted its position in shares of R1 RCM by 429.5% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 5,623 shares of the healthcare provider’s stock valued at $59,000 after acquiring an additional 4,561 shares during the last quarter. Salem Investment Counselors Inc. bought a new stake in shares of R1 RCM during the 4th quarter worth $61,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of R1 RCM in the 3rd quarter worth $189,000. Institutional investors own 61.10% of the company’s stock.

R1 RCM Stock Up 2.8 %

RCM traded up $0.35 during trading on Friday, reaching $12.48. 1,417,239 shares of the stock traded hands, compared to its average volume of 2,225,109. The stock’s 50-day simple moving average is $12.48 and its two-hundred day simple moving average is $11.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.79 and a quick ratio of 1.79. R1 RCM Inc. has a fifty-two week low of $8.87 and a fifty-two week high of $18.70. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of -156.00 and a beta of 0.78.

R1 RCM (NASDAQ:RCM) last posted its quarterly earnings results on Wednesday, May 8th. The healthcare provider reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). The firm had revenue of $603.90 million for the quarter, compared to analysts’ expectations of $612.88 million. R1 RCM had a negative return on equity of 1.16% and a negative net margin of 1.39%. The firm’s revenue was up 10.7% on a year-over-year basis. As a group, equities research analysts expect that R1 RCM Inc. will post -0.09 EPS for the current year.

Insider Buying and Selling at R1 RCM

In other news, President John M. Sparby sold 10,046 shares of the firm’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 transaction, the president now owns 265,986 shares in the company, valued at approximately $3,811,579.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 36.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RCM. Leerink Partnrs reiterated an “outperform” rating on shares of R1 RCM in a research report on Monday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 target price on shares of R1 RCM in a report on Wednesday, April 10th. Evercore ISI restated an “in-line” rating and set a $16.00 price target (up previously from $12.00) on shares of R1 RCM in a report on Wednesday, February 28th. KeyCorp restated a “sector weight” rating on shares of R1 RCM in a research report on Wednesday, April 10th. Finally, Citigroup upgraded shares of R1 RCM from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Wednesday, March 20th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, R1 RCM currently has an average rating of “Moderate Buy” and an average target price of $16.31.

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.