Wolverine Asset Management LLC Invests $2.34 Million in R1 RCM Inc. (NASDAQ:RCM)

Wolverine Asset Management LLC purchased a new position in R1 RCM Inc. (NASDAQ:RCM - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 164,800 shares of the healthcare provider's stock, valued at approximately $2,335,000.

Several other institutional investors also recently bought and sold shares of RCM. Advisors Asset Management Inc. bought a new position in shares of R1 RCM during the 1st quarter worth approximately $27,000. GAMMA Investing LLC increased its holdings in shares of R1 RCM by 41.3% in the third quarter. GAMMA Investing LLC now owns 2,597 shares of the healthcare provider's stock worth $37,000 after buying an additional 759 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of R1 RCM by 589.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,122 shares of the healthcare provider's stock worth $44,000 after purchasing an additional 2,669 shares in the last quarter. ANTIPODES PARTNERS Ltd purchased a new stake in shares of R1 RCM in the 2nd quarter worth $86,000. Finally, Values First Advisors Inc. purchased a new stake in R1 RCM in the 3rd quarter worth about $88,000. 61.10% of the stock is owned by institutional investors and hedge funds.

R1 RCM Stock Performance

Shares of NASDAQ:RCM remained flat at $14.29 on Tuesday. 528,673 shares of the company's stock were exchanged, compared to its average volume of 3,441,078. R1 RCM Inc. has a 1-year low of $8.87 and a 1-year high of $15.12. The business has a 50-day moving average price of $14.19 and a 200-day moving average price of $13.35. The company has a market cap of $6.04 billion, a P/E ratio of -95.26 and a beta of 0.84. The company has a current ratio of 1.79, a quick ratio of 1.84 and a debt-to-equity ratio of 0.76.

R1 RCM (NASDAQ:RCM - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The healthcare provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The firm had revenue of $656.80 million during the quarter, compared to analyst estimates of $640.93 million. R1 RCM had a negative net margin of 2.48% and a negative return on equity of 2.18%. The firm's revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities research analysts forecast that R1 RCM Inc. will post -0.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RCM shares. Leerink Partners cut shares of R1 RCM from an "outperform" rating to a "market perform" rating and cut their price target for the company from $17.00 to $14.30 in a report on Thursday, August 1st. Leerink Partnrs downgraded R1 RCM from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 1st. Cantor Fitzgerald restated a "neutral" rating and issued a $14.30 price objective on shares of R1 RCM in a research report on Friday, October 4th. Canaccord Genuity Group reiterated a "buy" rating and set a $15.00 price objective on shares of R1 RCM in a research report on Monday, July 22nd. Finally, Jefferies Financial Group cut shares of R1 RCM from a "buy" rating to a "hold" rating in a research note on Thursday, August 1st. Thirteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $15.41.

R1 RCM Company Profile

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.