RadNet, Inc. (NASDAQ:RDNT) Shares Sold by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP lessened its stake in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 22.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,642 shares of the medical research company's stock after selling 13,004 shares during the quarter. Advantage Alpha Capital Partners LP owned approximately 0.06% of RadNet worth $3,098,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of RadNet by 8.1% in the first quarter. Vanguard Group Inc. now owns 4,600,539 shares of the medical research company's stock valued at $223,862,000 after buying an additional 345,822 shares during the last quarter. Principal Financial Group Inc. raised its holdings in RadNet by 8.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,506,545 shares of the medical research company's stock valued at $104,539,000 after acquiring an additional 118,501 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in RadNet by 11.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,131,849 shares of the medical research company's stock valued at $78,539,000 after acquiring an additional 119,875 shares during the last quarter. Hood River Capital Management LLC lifted its stake in shares of RadNet by 5.1% during the 2nd quarter. Hood River Capital Management LLC now owns 1,125,712 shares of the medical research company's stock worth $66,327,000 after purchasing an additional 54,583 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in RadNet by 33.9% in the 2nd quarter. Clearbridge Investments LLC now owns 732,527 shares of the medical research company's stock worth $43,160,000 after buying an additional 185,523 shares during the last quarter. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

RadNet Stock Down 0.0 %

Shares of RDNT stock traded down $0.02 during trading hours on Tuesday, reaching $81.45. The company had a trading volume of 363,750 shares, compared to its average volume of 552,343. The company has a market capitalization of $6.03 billion, a P/E ratio of -1,163.86 and a beta of 1.75. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.16 and a current ratio of 2.16. RadNet, Inc. has a twelve month low of $32.01 and a twelve month high of $93.65. The stock's fifty day simple moving average is $71.32 and its 200 day simple moving average is $64.41.

Insiders Place Their Bets

In other news, insider Ranjan Jayanathan sold 38,557 shares of the firm's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total transaction of $3,084,560.00. Following the completion of the sale, the insider now directly owns 192,724 shares in the company, valued at $15,417,920. This trade represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.12% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RDNT shares. Jefferies Financial Group lifted their price target on shares of RadNet from $75.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, September 19th. Sidoti upgraded RadNet to a "strong-buy" rating in a report on Friday, October 4th. Truist Financial boosted their target price on RadNet from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. Finally, Barclays raised shares of RadNet from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $57.00 to $79.00 in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $74.75.

RadNet Company 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.