ClearAlpha Technologies LP Buys 30,937 Shares of R1 RCM Inc. (NASDAQ:RCM)

ClearAlpha Technologies LP grew its stake in shares of R1 RCM Inc. (NASDAQ:RCM) by 41.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 105,381 shares of the healthcare provider’s stock after purchasing an additional 30,937 shares during the quarter. ClearAlpha Technologies LP’s holdings in R1 RCM were worth $1,493,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Glazer Capital LLC purchased a new stake in R1 RCM in the third quarter worth $135,678,000. Empyrean Capital Partners LP bought a new stake in shares of R1 RCM during the 2nd quarter valued at about $26,376,000. Alpine Associates Management Inc. purchased a new position in shares of R1 RCM during the third quarter valued at about $25,680,000. Tokio Marine Asset Management Co. Ltd. bought a new position in R1 RCM in the third quarter worth about $11,986,000. Finally, Engine Capital Management LP lifted its holdings in 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 worth $16,939,000 after buying an additional 660,428 shares during the period. Institutional investors own 61.10% of the company’s stock.

R1 RCM Price Performance

Shares of NASDAQ RCM opened at $14.31 on Monday. The firm has a market cap of $6.04 billion, a P/E ratio of -95.39 and a beta of 0.84. R1 RCM Inc. has a twelve month low of $8.87 and a twelve month high of $15.12. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.76. The company has a 50 day moving average of $14.25 and a 200 day moving average of $13.54.

R1 RCM (NASDAQ:RCM) last posted its quarterly earnings results on Tuesday, November 5th. The healthcare provider reported ($0.05) earnings per share 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 business had revenue of $656.80 million during the quarter, compared to analysts’ expectations of $640.93 million. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. As a group, research analysts expect that R1 RCM Inc. will post -0.18 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.