ABS Direct Equity Fund LLC Acquires Shares of 400,000 R1 RCM Inc. (NASDAQ:RCM)

ABS Direct Equity Fund LLC acquired a new position in shares of R1 RCM Inc. (NASDAQ:RCM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 400,000 shares of the healthcare provider’s stock, valued at approximately $4,228,000. R1 RCM accounts for about 4.0% of ABS Direct Equity Fund LLC’s investment portfolio, making the stock its 6th largest holding.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of R1 RCM by 5.6% during the third quarter. Vanguard Group Inc. now owns 17,940,792 shares of the healthcare provider’s stock worth $270,368,000 after purchasing an additional 947,310 shares in the last quarter. Voss Capital LLC grew its stake in R1 RCM by 553.9% in the fourth quarter. Voss Capital LLC now owns 7,125,000 shares of the healthcare provider’s stock valued at $75,311,000 after acquiring an additional 6,035,340 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of R1 RCM by 3.4% in the third quarter. Bank of New York Mellon Corp now owns 7,017,700 shares of the healthcare provider’s stock worth $105,757,000 after acquiring an additional 229,104 shares in the last quarter. Invesco Ltd. raised its position in shares of R1 RCM by 4.4% during the third quarter. Invesco Ltd. now owns 5,120,817 shares of the healthcare provider’s stock worth $77,171,000 after purchasing an additional 218,100 shares during the period. Finally, Polar Capital Holdings Plc lifted its holdings in shares of R1 RCM by 0.5% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,696,412 shares of the healthcare provider’s stock valued at $70,775,000 after purchasing an additional 22,550 shares in the last quarter. Institutional investors own 61.10% of the company’s stock.

Insider Buying and Selling at R1 RCM

In other R1 RCM news, President John M. Sparby sold 10,046 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $14.33, for a total transaction of $143,959.18. Following the completion of the sale, the president now owns 265,986 shares of the company’s stock, valued at approximately $3,811,579.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 36.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley reissued an “overweight” rating and set a $17.00 target price on shares of R1 RCM in a research note on Tuesday, March 26th. Barclays reaffirmed an “equal weight” rating and set a $14.00 price objective on shares of R1 RCM in a research report on Wednesday, February 28th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 price objective on shares of R1 RCM in a report on Wednesday, April 10th. KeyCorp restated a “sector weight” rating on shares of R1 RCM in a report on Wednesday, April 10th. Finally, Guggenheim lowered their price target on shares of R1 RCM from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, R1 RCM has an average rating of “Moderate Buy” and an average price target of $16.87.

R1 RCM Price Performance

NASDAQ:RCM traded up $0.02 during mid-day trading on Friday, hitting $12.47. The stock had a trading volume of 952,940 shares, compared to its average volume of 1,682,509. R1 RCM Inc. has a twelve month low of $8.87 and a twelve month high of $18.70. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.57. The company’s 50 day simple moving average is $12.98 and its 200 day simple moving average is $11.43.

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.