Brookwood Investment Group LLC Invests $1.38 Million in RadNet, Inc. (NASDAQ:RDNT)

Brookwood Investment Group LLC acquired a new position in RadNet, Inc. (NASDAQ:RDNT) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 27,701 shares of the medical research company’s stock, valued at approximately $1,377,000.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its position in RadNet by 22.3% during the first quarter. GAMMA Investing LLC now owns 1,644 shares of the medical research company’s stock worth $82,000 after acquiring an additional 300 shares in the last quarter. Tower Research Capital LLC TRC raised its position in RadNet by 42.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,422 shares of the medical research company’s stock worth $99,000 after acquiring an additional 422 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in RadNet during the fourth quarter worth $105,000. Aquatic Capital Management LLC bought a new position in shares of RadNet in the fourth quarter valued at about $187,000. Finally, Highland Capital Management LLC raised its position in shares of RadNet by 24.8% in the first quarter. Highland Capital Management LLC now owns 4,128 shares of the medical research company’s stock valued at $205,000 after purchasing an additional 821 shares during the period. Institutional investors own 77.90% of the company’s stock.

Wall Street Analyst Weigh In

RDNT has been the topic of several research analyst reports. Wall Street Zen lowered shares of RadNet from a “hold” rating to a “sell” rating in a research report on Sunday, June 29th. Truist Financial set a $74.00 price objective on shares of RadNet in a research report on Thursday, July 10th. Finally, B. Riley started coverage on shares of RadNet in a research note on Friday, June 13th. They issued a “buy” rating and a $69.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $69.60.

Insider Transactions at RadNet

In other news, EVP Alma Gregory Sorensen sold 55,000 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $56.48, for a total value of $3,106,400.00. Following the completion of the transaction, the executive vice president owned 1,160,509 shares of the company’s stock, valued at approximately $65,545,548.32. This represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Norman R. Hames sold 5,536 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $60.00, for a total transaction of $332,160.00. Following the completion of the transaction, the chief operating officer directly owned 249,183 shares of the company’s stock, valued at $14,950,980. This trade represents a 2.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,447 shares of company stock valued at $3,613,220 in the last three months. Company insiders own 5.60% of the company’s stock.

RadNet Price Performance

RadNet stock traded down $1.35 during trading hours on Thursday, reaching $57.19. 77,257 shares of the stock were exchanged, compared to its average volume of 797,653. The company has a market cap of $4.29 billion, a P/E ratio of -133.54 and a beta of 1.41. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.87. RadNet, Inc. has a twelve month low of $45.00 and a twelve month high of $93.65. The stock has a 50 day moving average of $57.20 and a two-hundred day moving average of $56.79.

RadNet Profile

RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. The company operates in two segments: Imaging Centers and Artificial Intelligence. Its services include magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures, as well as multi-modality imaging services.