NINE MASTS CAPITAL Ltd Buys 115,513 Shares of R1 RCM Inc. (NASDAQ:RCM)

NINE MASTS CAPITAL Ltd raised its stake in R1 RCM Inc. (NASDAQ:RCM) by 755.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 130,813 shares of the healthcare provider’s stock after buying an additional 115,513 shares during the period. NINE MASTS CAPITAL Ltd’s holdings in R1 RCM were worth $1,643,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Advisors Asset Management Inc. purchased a new position in shares of R1 RCM during the 1st quarter valued at about $27,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of R1 RCM during the second quarter worth approximately $86,000. QRG Capital Management Inc. purchased a new position in shares of R1 RCM during the first quarter worth approximately $132,000. Caas Capital Management LP bought a new stake in shares of R1 RCM in the 4th quarter worth approximately $148,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of R1 RCM in the 2nd quarter valued at $149,000. Institutional investors own 61.10% of the company’s stock.

R1 RCM Price Performance

Shares of NASDAQ RCM opened at $14.12 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.84 and a quick ratio of 1.84. R1 RCM Inc. has a 1 year low of $8.87 and a 1 year high of $17.17. The company’s 50-day moving average is $13.52 and its 200 day moving average is $13.00. The stock has a market capitalization of $5.95 billion, a P/E ratio of -176.50 and a beta of 0.84.

R1 RCM (NASDAQ:RCM) last posted its earnings results on Wednesday, August 7th. The healthcare provider reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $627.90 million for the quarter, compared to the consensus estimate of $633.10 million. R1 RCM had a negative return on equity of 1.44% and a negative net margin of 1.68%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, sell-side analysts expect that R1 RCM Inc. will post -0.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RCM. Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 target price on shares of R1 RCM in a research report on Monday, July 22nd. Truist Financial lowered their target price on R1 RCM from $16.00 to $14.30 and set a “hold” rating for the company in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft increased their target price on R1 RCM from $14.00 to $16.00 and gave the company a “hold” rating in a report on Tuesday, July 9th. Leerink Partners cut R1 RCM from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $17.00 to $14.30 in a research note on Thursday, August 1st. Finally, Stephens downgraded R1 RCM from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. Thirteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.41.

R1 RCM Company 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.