SG Americas Securities LLC Sells 12,301 Shares of RadNet, Inc. (NASDAQ:RDNT)

SG Americas Securities LLC trimmed its position in shares of RadNet, Inc. (NASDAQ:RDNT - Free Report) by 75.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,928 shares of the medical research company's stock after selling 12,301 shares during the quarter. SG Americas Securities LLC's holdings in RadNet were worth $274,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Covestor Ltd grew its stake in RadNet by 10,875.0% during the third quarter. Covestor Ltd now owns 439 shares of the medical research company's stock worth $30,000 after buying an additional 435 shares during the last quarter. USA Financial Formulas bought a new stake in RadNet during the fourth quarter worth about $30,000. Highline Wealth Partners LLC acquired a new position in shares of RadNet during the third quarter worth approximately $68,000. Peterson Financial Group Inc. acquired a new position in shares of RadNet during the third quarter worth approximately $90,000. Finally, GAMMA Investing LLC lifted its position in shares of RadNet by 57.3% during the third quarter. GAMMA Investing LLC now owns 1,361 shares of the medical research company's stock worth $94,000 after purchasing an additional 496 shares in the last quarter. 77.90% of the stock is owned by institutional investors.

Insider Activity at RadNet

In other RadNet news, insider Ranjan Jayanathan sold 38,557 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $80.00, for a total value of $3,084,560.00. Following the completion of the sale, the insider now owns 192,724 shares of the company's stock, valued at approximately $15,417,920. This represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Jeffrey Katz sold 12,300 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $81.65, for a total transaction of $1,004,295.00. Following the completion of the sale, the executive vice president now directly owns 62,909 shares of the company's stock, valued at $5,136,519.85. The trade was a 16.35 % decrease in their position. The disclosure for this sale can be found here. 5.12% of the stock is currently owned by company insiders.

RadNet Trading Down 2.5 %

NASDAQ RDNT traded down $1.59 during trading hours on Friday, hitting $62.77. The company's stock had a trading volume of 625,481 shares, compared to its average volume of 918,427. The stock has a fifty day moving average of $70.62 and a 200 day moving average of $68.95. RadNet, Inc. has a twelve month low of $35.16 and a twelve month high of $93.65. The firm has a market capitalization of $4.65 billion, a P/E ratio of -896.59 and a beta of 1.79. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.89.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RDNT. Barclays reduced their target price on shares of RadNet from $85.00 to $74.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 22nd. Jefferies Financial Group reduced their target price on shares of RadNet from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, January 15th. Finally, Truist Financial reiterated a "buy" rating and set a $88.00 target price (down from $94.00) on shares of RadNet in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, RadNet has an average rating of "Moderate Buy" and a consensus price target of $75.50.

About RadNet

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.