Virtu Financial LLC Makes New $780,000 Investment in Fonar Corporation $FONR

Virtu Financial LLC acquired a new stake in Fonar Corporation (NASDAQ:FONR) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 42,031 shares of the medical equipment provider’s stock, valued at approximately $780,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in FONR. Money Concepts Capital Corp lifted its stake in shares of Fonar by 5.6% during the fourth quarter. Money Concepts Capital Corp now owns 510,672 shares of the medical equipment provider’s stock valued at $9,478,000 after acquiring an additional 27,150 shares during the period. Dimensional Fund Advisors LP lifted its position in Fonar by 1.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 376,976 shares of the medical equipment provider’s stock valued at $5,677,000 after purchasing an additional 4,413 shares during the period. Renaissance Technologies LLC lifted its position in Fonar by 2.3% during the 4th quarter. Renaissance Technologies LLC now owns 315,716 shares of the medical equipment provider’s stock valued at $5,860,000 after purchasing an additional 7,100 shares during the period. Bridgeway Capital Management LLC boosted its stake in shares of Fonar by 2.3% in the 2nd quarter. Bridgeway Capital Management LLC now owns 83,382 shares of the medical equipment provider’s stock valued at $1,247,000 after purchasing an additional 1,843 shares during the last quarter. Finally, RBF Capital LLC boosted its stake in shares of Fonar by 3.3% in the 4th quarter. RBF Capital LLC now owns 75,447 shares of the medical equipment provider’s stock valued at $1,400,000 after purchasing an additional 2,389 shares during the last quarter. 50.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Hilary Shane bought 225,426 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was bought at an average cost of $19.05 per share, for a total transaction of $4,294,365.30. Following the transaction, the insider owned 324,118 shares of the company’s stock, valued at $6,174,447.90. This represents a 228.41% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders bought 554,089 shares of company stock worth $10,561,877. 7.93% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Fonar in a research note on Tuesday, April 7th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Fonar has a consensus rating of “Hold”.

Fonar Price Performance

NASDAQ:FONR opened at $19.09 on Tuesday. Fonar Corporation has a 12-month low of $13.62 and a 12-month high of $19.16. The firm has a market capitalization of $117.84 million, a P/E ratio of 19.09 and a beta of 0.95. The stock’s fifty day simple moving average is $18.94 and its 200-day simple moving average is $18.17.

Fonar (NASDAQ:FONR) last released its quarterly earnings data on Monday, May 11th. The medical equipment provider reported $0.24 EPS for the quarter. Fonar had a return on equity of 4.12% and a net margin of 6.35%.The business had revenue of $26.47 million during the quarter.

Fonar Profile

Fonar Corporation is a medical technology company primarily engaged in the design, manufacture and sale of magnetic resonance imaging (MRI) systems. The company’s flagship product, the UPRIGHT® Multi-Position™ MRI, enables patients to be scanned in standing, seated and traditional recumbent positions, offering enhanced diagnostic capabilities for musculoskeletal, neurological and vascular conditions. In addition to MRI equipment sales, Fonar provides equipment installation, training and maintenance services to hospitals, imaging centers and private practices.

Headquartered in Melville, New York, Fonar markets its MRI systems both domestically and internationally, supported by a network of service engineers and customer support personnel.