Amalgamated Bank Trims Stock Position in RadNet, Inc. (NASDAQ:RDNT)

Amalgamated Bank cut its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 5.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 19,181 shares of the medical research company’s stock after selling 1,087 shares during the period. Amalgamated Bank’s holdings in RadNet were worth $1,331,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in RadNet by 774.2% during the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock worth $50,000 after acquiring an additional 751 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of RadNet by 74.7% in the second quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock valued at $51,000 after buying an additional 370 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of RadNet in the third quarter valued at about $68,000. Highland Capital Management LLC acquired a new stake in shares of RadNet in the third quarter valued at about $215,000. Finally, Mount Yale Investment Advisors LLC acquired a new stake in shares of RadNet in the third quarter valued at about $235,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at RadNet

In related news, EVP Michael N. Murdock sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $62.78, for a total value of $941,700.00. Following the sale, the executive vice president now directly owns 48,144 shares in the company, valued at $3,022,480.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RDNT. Sidoti upgraded RadNet to a “strong-buy” rating in a research note on Friday, October 4th. Jefferies Financial Group increased their target price on RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Truist Financial raised their price target on RadNet from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Finally, Barclays raised RadNet from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $57.00 to $79.00 in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.75.

RadNet Stock Down 1.2 %

RDNT opened at $82.56 on Thursday. RadNet, Inc. has a 12 month low of $30.27 and a 12 month high of $93.65. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.16 and a quick ratio of 2.12. The stock has a market cap of $6.11 billion, a P/E ratio of -1,179.26 and a beta of 1.75. The stock’s 50 day moving average price is $68.58 and its 200 day moving average price is $62.65.

RadNet Company Profile

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. The company operates in two segments: Imaging Centers and Artificial Intelligence. Its services include magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures, as well as multi-modality imaging services.