Mutual of America Capital Management LLC Sells 28,951 Shares of R1 RCM Inc. (NASDAQ:RCM)

Mutual of America Capital Management LLC lessened its holdings in shares of R1 RCM Inc. (NASDAQ:RCM) by 25.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,409 shares of the healthcare provider’s stock after selling 28,951 shares during the quarter. Mutual of America Capital Management LLC’s holdings in R1 RCM were worth $1,196,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in R1 RCM by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,154,888 shares of the healthcare provider’s stock valued at $39,624,000 after purchasing an additional 136,808 shares in the last quarter. Boston Partners raised its position in shares of R1 RCM by 4,976.6% during the 1st quarter. Boston Partners now owns 2,570,371 shares of the healthcare provider’s stock valued at $32,784,000 after buying an additional 2,519,739 shares in the last quarter. Sea Cliff Partners Management LP lifted its holdings in shares of R1 RCM by 14.3% during the 2nd quarter. Sea Cliff Partners Management LP now owns 2,437,450 shares of the healthcare provider’s stock worth $30,614,000 after acquiring an additional 305,672 shares during the last quarter. Empyrean Capital Partners LP purchased a new position in R1 RCM in the second quarter worth $26,376,000. Finally, Engine Capital Management LP increased its stake 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 valued at $16,939,000 after acquiring an additional 660,428 shares during the last quarter. Hedge funds and other institutional investors own 61.10% of the company’s stock.

R1 RCM Price Performance

NASDAQ RCM opened at $14.31 on Tuesday. R1 RCM Inc. has a 1 year low of $8.87 and a 1 year high of $15.12. The stock has a market capitalization of $6.04 billion, a PE ratio of -95.39 and a beta of 0.84. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.79 and a quick ratio of 1.79. The business’s 50-day moving average is $14.23 and its 200 day moving average is $13.48.

R1 RCM (NASDAQ:RCM) last issued its quarterly earnings data on Tuesday, November 5th. The healthcare provider reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $640.93 million. The company’s quarterly revenue was up 14.7% on a year-over-year basis. Sell-side analysts forecast that R1 RCM Inc. will post -0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. TD Cowen reaffirmed a “hold” rating and set a $14.30 price target (down previously from $20.00) on shares of R1 RCM in a research note on Monday, August 5th. Leerink Partnrs cut shares of R1 RCM from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Jefferies Financial Group lowered shares of R1 RCM from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Truist Financial cut their price objective on shares of R1 RCM from $16.00 to $14.30 and set a “hold” rating for the company in a research note on Thursday, August 8th. Finally, Leerink Partners cut shares of R1 RCM from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $17.00 to $14.30 in a research report on Thursday, August 1st. Thirteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, R1 RCM currently has an average rating of “Hold” and a consensus 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.