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Macquarie Group Ltd. acquired a new interest in R1 RCM Inc. (NASDAQ: RCM) in the second quarter, according to its latest filing 13F with the Securities and Exchange Commission (SEC). The fund acquired 79,800 shares in the financial services provider, valued at approximately $ 693,000. Macquarie Group Ltd. owned approximately 0.07% of the R1 RCM since it was last filed with the SEC.
Several other institutional investors have also changed their positions in the company. BlackRock Inc. increased its position in R1 RCM shares by 24.2% in the second quarter. BlackRock Inc. now holds 6,857,083 shares in the financial services provider valued at $ 59,520,000 after purchasing 1,336,515 additional shares during the last quarter. Renaissance Technologies LLC strengthened its position in R1 RCM shares by 194.4% in the second quarter. Renaissance Technologies LLC now holds 1,904,500 shares in the financial services provider valued at $ 16,531,000 after purchasing 1,257,600 additional shares in the last quarter. Penn Capital Management Co. Inc. acquired a new equity interest in R1 RCM in the second quarter for approximately $ 10,367,000. Wetherby Asset Management Inc. acquired a new equity interest in R1 RCM shares in the second quarter valued at approximately $ 5,642,000. Finally, 22NW LP increased its position in R1 RCM shares by 290.6% in the first quarter. 22NW LP now holds 600,155 shares valued at $ 4,285,000 in the financial services provider after purchasing an additional 446,503 shares in the last quarter. Institutional investors and hedge funds own 49.75% of the company's shares.
A number of equity research badysts have published reports on the actions of the MRC. In a research report released Tuesday, July 3, the BidaskClub downgraded the RCM R1 from a "buy" rating to a "pending" rating. Zacks Investment Research improved the rating of the RCM R1, which went from "strong sale" to "held" in a research report published Wednesday, July 18. In a research report, Cantor Fitzgerald rephrased the "buy" note and set a target price of $ 10.00 for MRC R1 stock in a research report on Friday, July 27. Chardan Capital began coverage of the MRC R1 in a research report on Tuesday, September 4th. They set a "buy" rating and a $ 17.00 price target on the stock. Finally, TheStreet has upgraded the R1 RCM rating from "d +" to "c" in a research report released on Tuesday, September 4th. Three badysts rated the stock a conservation rating, three rated the purchase and one rated it high. The stock currently has an average rating of "Buy" and an average price target of $ 11.05.
Albert Rene Zimmerli, director of the R1, bought 10,000 shares of the company during a transaction dated Thursday, September 6. The shares were purchased at an average price of $ 9.73 per share, for a total value of $ 97,300.00. Upon completion of the purchase, the director now owns 10,000 shares of the Company, valued at approximately $ 97,300. The purchase was disclosed in a document filed with the SEC, accessible via this hyperlink. Insiders hold 59.40% of the shares of the company.
The MRC shares fell by $ 0.03 during trading from noon to Friday, reaching $ 8.67. 1,038,707 shares of the company were traded, compared with an average volume of 600,351. The company has a market capitalization of $ 956.85 million, a PE ratio of -19.70 and a beta of -0.76. R1 RCM Inc. has a minimum of 52 weeks of $ 3.56 and $ 11.00 of 52 weeks. The company has a debt ratio of 15.78, a current ratio of 1.08 and a fast ratio of 1.08.
R1 RCM (NASDAQ: RCM) released its financial results on Thursday, August 9th. The financial services provider posted EPS of ($ 0.07) for the quarter, but estimates of badyst consensus were not estimated at $ 0.05 per $ 0.02. The company had sales of $ 207.90 million for the quarter, compared to a consensus estimate of $ 200.59 million. R1 RCM had a negative net margin of 11.31% and a negative return on equity of 52.71%. The company's sales for the quarter increased by 109.2% compared to the same quarter of the previous year. Equity research badysts predict that R1 RCM Inc. will post a EPS of -0.17 for the current year.
Profile of the RCM R1
R1 RCM Inc. provides Revenue Cycle Management (RCM) to healthcare providers in the United States. It offers comprehensive remote management services for the management of their revenue cycle operations, which include patient registration, insurance and benefits verification, documentation and coding of medical treatment, as well as preparation and collection of bills from patients and payers.
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