KCG Holdings Inc. decreased its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 4.2% during the first quarter, Holdings Channel reports. The fund owned 18,341 shares of the medical research company’s stock after selling 797 shares during the period. KCG Holdings Inc.’s holdings in RadNet were worth $108,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in RDNT. Royce & Associates LP bought a new position in shares of RadNet during the first quarter worth about $118,000. Spark Investment Management LLC bought a new position in shares of RadNet during the first quarter worth about $125,000. Cadence Capital Management LLC boosted its position in shares of RadNet by 32.5% in the first quarter. Cadence Capital Management LLC now owns 171,565 shares of the medical research company’s stock worth $1,012,000 after buying an additional 42,107 shares during the last quarter. Miracle Mile Advisors LLC boosted its position in shares of RadNet by 437.0% in the first quarter. Miracle Mile Advisors LLC now owns 100,573 shares of the medical research company’s stock worth $593,000 after buying an additional 81,844 shares during the last quarter. Finally, American International Group Inc. boosted its position in shares of RadNet by 7.0% in the first quarter. American International Group Inc. now owns 22,857 shares of the medical research company’s stock worth $135,000 after buying an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 46.48% of the company’s stock.
Shares of RadNet, Inc. (NASDAQ:RDNT) traded up 0.63% on Friday, reaching $7.95. The company’s stock had a trading volume of 15,577 shares. The firm has a market capitalization of $375.37 million, a PE ratio of 51.62 and a beta of 1.01. The firm has a 50-day moving average price of $7.71 and a 200 day moving average price of $6.66. RadNet, Inc. has a one year low of $5.25 and a one year high of $8.70.
RadNet (NASDAQ:RDNT) last released its quarterly earnings data on Tuesday, August 8th. The medical research company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.07. The business had revenue of $230 million during the quarter, compared to analyst estimates of $230.32 million. RadNet had a return on equity of 21.54% and a net margin of 1.04%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.09 EPS. On average, analysts anticipate that RadNet, Inc. will post $0.29 earnings per share for the current fiscal year.
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Separately, Zacks Investment Research upgraded RadNet from a “sell” rating to a “hold” rating in a research note on Wednesday, May 17th.
In other RadNet news, insider Norman R. Hames sold 39,072 shares of RadNet stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $7.22, for a total transaction of $282,099.84. Following the completion of the transaction, the insider now owns 563,703 shares in the company, valued at approximately $4,069,935.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark Stolper sold 15,000 shares of RadNet stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $7.33, for a total value of $109,950.00. Following the transaction, the vice president now owns 155,319 shares of the company’s stock, valued at approximately $1,138,488.27. The disclosure for this sale can be found here. Insiders have sold a total of 262,838 shares of company stock valued at $1,955,532 in the last quarter. Company insiders own 9.36% of the company’s stock.
RadNet Company Profile
RadNet, Inc is a provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States. As of December 31, 2016, the Company operated directly or indirectly through joint ventures, 305 centers located in California, Delaware, Florida, Maryland, New Jersey, New York and Rhode Island.
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