R1 RCM Inc. (NASDAQ:RCM) Stake Raised by Sea Cliff Partners Management LP

Sea Cliff Partners Management LP raised its position in R1 RCM Inc. (NASDAQ:RCM - Free Report) by 14.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,437,450 shares of the healthcare provider's stock after purchasing an additional 305,672 shares during the quarter. R1 RCM comprises 10.5% of Sea Cliff Partners Management LP's investment portfolio, making the stock its 4th biggest position. Sea Cliff Partners Management LP owned 0.58% of R1 RCM worth $30,614,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in RCM. Millennium Management LLC increased its position in shares of R1 RCM by 8.1% during the 2nd quarter. Millennium Management LLC now owns 457,907 shares of the healthcare provider's stock worth $5,751,000 after purchasing an additional 34,475 shares during the last quarter. Dark Forest Capital Management LP increased its holdings in R1 RCM by 67.5% in the 2nd quarter. Dark Forest Capital Management LP now owns 57,749 shares of the healthcare provider's stock valued at $725,000 after purchasing an additional 23,270 shares during the last quarter. Empyrean Capital Partners LP purchased a new stake in R1 RCM in the second quarter valued at approximately $26,376,000. Troluce Capital Advisors LLC lifted its stake in R1 RCM by 373.7% during the second quarter. Troluce Capital Advisors LLC now owns 790,555 shares of the healthcare provider's stock worth $9,929,000 after purchasing an additional 623,655 shares in the last quarter. Finally, Engine Capital Management LP boosted its position in shares of R1 RCM by 96.0% during the second quarter. Engine Capital Management LP now owns 1,348,664 shares of the healthcare provider's stock worth $16,939,000 after buying an additional 660,428 shares during the period. Hedge funds and other institutional investors own 61.10% of the company's stock.

R1 RCM Stock Performance

NASDAQ RCM traded up $0.01 on Friday, reaching $14.18. The stock had a trading volume of 658,929 shares, compared to its average volume of 3,726,409. R1 RCM Inc. has a 12-month low of $8.87 and a 12-month high of $15.43. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a market cap of $5.99 billion, a P/E ratio of -177.13 and a beta of 0.84. The business's 50-day moving average price is $13.89 and its 200 day moving average price is $13.02.

R1 RCM (NASDAQ:RCM - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The healthcare provider reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.03. R1 RCM had a negative return on equity of 1.44% and a negative net margin of 1.68%. The firm had revenue of $627.90 million for the quarter, compared to analyst estimates of $633.10 million. The company's quarterly revenue was up 12.0% on a year-over-year basis. As a group, equities analysts expect that R1 RCM Inc. will post -0.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RCM. Cantor Fitzgerald reissued a "neutral" rating and set a $14.30 target price on shares of R1 RCM in a research note on Tuesday, August 20th. Leerink Partnrs cut shares of R1 RCM from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 1st. Royal Bank of Canada restated an "outperform" rating and issued a $19.00 price target on shares of R1 RCM in a research note on Friday, June 28th. Stephens cut R1 RCM from an "overweight" rating to an "equal weight" rating in a research note on Thursday, August 1st. Finally, Morgan Stanley downgraded R1 RCM from an "overweight" rating to an "equal weight" rating in a report on Thursday, August 8th. Thirteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus 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.