HGC Investment Management Inc. Purchases New Holdings in R1 RCM Inc. (NASDAQ:RCM)

HGC Investment Management Inc. acquired a new position in R1 RCM Inc. (NASDAQ:RCM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 30,494 shares of the healthcare provider’s stock, valued at approximately $432,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RCM. Glazer Capital LLC purchased a new stake in R1 RCM in the third quarter worth approximately $135,678,000. Empyrean Capital Partners LP purchased a new position in R1 RCM during the second quarter valued at $26,376,000. Alpine Associates Management Inc. acquired a new stake in R1 RCM during the third quarter worth about $25,680,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of R1 RCM in the 3rd quarter valued at approximately $11,986,000. Finally, Engine Capital Management LP raised its stake in shares of R1 RCM by 96.0% in the second quarter. Engine Capital Management LP now owns 1,348,664 shares of the healthcare provider’s stock valued at $16,939,000 after purchasing an additional 660,428 shares in the last quarter. 61.10% of the stock is owned by institutional investors.

R1 RCM Trading Up 0.1 %

Shares of NASDAQ:RCM opened at $14.31 on Tuesday. The company 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’s 50 day simple moving average is $14.25 and its 200 day simple moving average is $13.54.

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

Wall Street Analyst Weigh In

RCM has been the topic of a number of research analyst reports. Truist Financial lowered their price target on R1 RCM from $16.00 to $14.30 and set a “hold” rating on the stock in a report on Thursday, August 8th. Morgan Stanley downgraded R1 RCM from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 8th. TD Cowen reiterated a “hold” rating and issued a $14.30 target price (down from $20.00) on shares of R1 RCM in a research note on Monday, August 5th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $14.30 target price on shares of R1 RCM in a research note on Friday, October 4th. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $15.41.

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.