Mutual of America Capital Management LLC Trims Stake in R1 RCM Inc. (NASDAQ:RCM)

Mutual of America Capital Management LLC cut its stake in R1 RCM Inc. (NASDAQ:RCM) by 25.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 84,409 shares of the healthcare provider’s stock after selling 28,951 shares during the quarter. Mutual of America Capital Management LLC’s holdings in R1 RCM were worth $1,196,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Advisors Asset Management Inc. bought a new position in shares of R1 RCM in the 1st quarter worth approximately $27,000. GAMMA Investing LLC grew its stake in R1 RCM by 41.3% in the third quarter. GAMMA Investing LLC now owns 2,597 shares of the healthcare provider’s stock worth $37,000 after purchasing an additional 759 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in R1 RCM by 589.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,122 shares of the healthcare provider’s stock worth $44,000 after purchasing an additional 2,669 shares in the last quarter. ANTIPODES PARTNERS Ltd purchased a new position in R1 RCM during the second quarter valued at $86,000. Finally, Values First Advisors Inc. purchased a new position in R1 RCM during the third quarter valued at $88,000. 61.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RCM. Cantor Fitzgerald reiterated a “neutral” rating and issued a $14.30 price target on shares of R1 RCM in a research note on Friday, October 4th. Jefferies Financial Group cut shares of R1 RCM from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Leerink Partners lowered shares of R1 RCM from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $17.00 to $14.30 in a report on Thursday, August 1st. Truist Financial cut their price target on R1 RCM from $16.00 to $14.30 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Finally, Stephens cut R1 RCM from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $15.41.

R1 RCM Price Performance

RCM stock opened at $14.31 on Tuesday. The stock has a market capitalization of $6.04 billion, a P/E ratio of -95.39 and a beta of 0.84. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.79 and a quick ratio of 1.79. R1 RCM Inc. has a 1-year low of $8.87 and a 1-year high of $15.12. The business has a fifty day moving average price of $14.23 and a 200-day moving average price of $13.48.

R1 RCM (NASDAQ:RCM) last issued its earnings results on Tuesday, November 5th. The healthcare provider reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The business had revenue of $656.80 million during the quarter, compared to analysts’ expectations of $640.93 million. R1 RCM had a negative return on equity of 2.18% and a negative net margin of 2.48%. R1 RCM’s revenue for the quarter was up 14.7% on a year-over-year basis. Equities analysts forecast that R1 RCM Inc. will post -0.18 earnings per share for the current fiscal year.

About R1 RCM

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.