R1 RCM Inc (NASDAQ:RCM) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its holdings in R1 RCM Inc (NASDAQ:RCM) by 19.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,336 shares of the financial services provider’s stock after selling 2,191 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in R1 RCM were worth $117,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cadence Capital Management LLC increased its position in shares of R1 RCM by 18.0% during the 1st quarter. Cadence Capital Management LLC now owns 369,918 shares of the financial services provider’s stock valued at $3,577,000 after purchasing an additional 56,302 shares during the period. Aperio Group LLC acquired a new position in shares of R1 RCM during the 2nd quarter valued at $127,000. Insight Wealth Strategies LLC increased its position in shares of R1 RCM by 4.7% during the 2nd quarter. Insight Wealth Strategies LLC now owns 185,928 shares of the financial services provider’s stock valued at $2,339,000 after purchasing an additional 8,357 shares during the period. Russell Investments Group Ltd. increased its position in shares of R1 RCM by 52.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,034,881 shares of the financial services provider’s stock valued at $13,008,000 after purchasing an additional 357,535 shares during the period. Finally, Allianz Asset Management GmbH increased its position in shares of R1 RCM by 20.0% during the 2nd quarter. Allianz Asset Management GmbH now owns 1,972,155 shares of the financial services provider’s stock valued at $24,809,000 after purchasing an additional 328,784 shares during the period. Hedge funds and other institutional investors own 70.91% of the company’s stock.

Several equities analysts have recently issued reports on the company. ValuEngine upgraded R1 RCM from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 4th. Zacks Investment Research cut R1 RCM from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Finally, BidaskClub cut R1 RCM from a “buy” rating to a “hold” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. R1 RCM has an average rating of “Buy” and a consensus target price of $14.25.

Shares of RCM stock traded up $0.18 during mid-day trading on Friday, hitting $10.68. 1,450,670 shares of the stock traded hands, compared to its average volume of 754,091. R1 RCM Inc has a twelve month low of $7.10 and a twelve month high of $13.19. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -33.38 and a beta of 0.15. The company’s 50-day simple moving average is $11.91 and its 200-day simple moving average is $11.38. The company has a debt-to-equity ratio of 106.30, a quick ratio of 0.90 and a current ratio of 0.90.

R1 RCM (NASDAQ:RCM) last issued its quarterly earnings results on Tuesday, August 6th. The financial services provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.08). The firm had revenue of $295.00 million for the quarter, compared to analyst estimates of $294.11 million. R1 RCM had a negative net margin of 2.22% and a negative return on equity of 249.01%. The firm’s revenue for the quarter was up 41.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.07) earnings per share. Analysts forecast that R1 RCM Inc will post -0.01 earnings per share for the current year.

About R1 RCM

R1 RCM Inc provides revenue cycle management (RCM) for healthcare providers in the United States. It offers end-to-end RCM services to manage their revenue cycle operations, which encompass patient registration, insurance and benefit verification, medical treatment documentation and coding, and bill preparation and collection from patients and payers.

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Institutional Ownership by Quarter for R1 RCM (NASDAQ:RCM)

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