Jasper Ridge Partners L.P. Has $18.21 Million Position in R1 RCM Inc (RCM)

Jasper Ridge Partners L.P. decreased its position in R1 RCM Inc (NASDAQ:RCM) by 48.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,792,093 shares of the financial services provider’s stock after selling 1,706,863 shares during the quarter. R1 RCM accounts for 1.0% of Jasper Ridge Partners L.P.’s portfolio, making the stock its 10th largest position. Jasper Ridge Partners L.P. owned about 1.63% of R1 RCM worth $18,208,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in RCM. BlackRock Inc. lifted its position in R1 RCM by 10.9% in the third quarter. BlackRock Inc. now owns 7,603,992 shares of the financial services provider’s stock valued at $77,255,000 after purchasing an additional 746,909 shares during the last quarter. Renaissance Technologies LLC lifted its position in R1 RCM by 194.4% in the second quarter. Renaissance Technologies LLC now owns 1,904,500 shares of the financial services provider’s stock valued at $16,531,000 after purchasing an additional 1,257,600 shares during the last quarter. Elk Creek Partners LLC bought a new stake in R1 RCM in the third quarter valued at approximately $18,848,000. Northern Trust Corp lifted its position in R1 RCM by 8.2% in the second quarter. Northern Trust Corp now owns 1,181,569 shares of the financial services provider’s stock valued at $10,256,000 after purchasing an additional 89,116 shares during the last quarter. Finally, Millennium Management LLC lifted its position in R1 RCM by 383.0% in the second quarter. Millennium Management LLC now owns 1,144,826 shares of the financial services provider’s stock valued at $9,937,000 after purchasing an additional 907,790 shares during the last quarter. Institutional investors own 57.42% of the company’s stock.

RCM opened at $9.16 on Monday. The company has a market cap of $1.01 billion, a PE ratio of -20.82 and a beta of -0.32. R1 RCM Inc has a 52-week low of $3.71 and a 52-week high of $11.00. The company has a debt-to-equity ratio of 37.41, a quick ratio of 1.06 and a current ratio of 1.06.

R1 RCM (NASDAQ:RCM) last issued its quarterly earnings results on Wednesday, November 7th. The financial services provider reported ($0.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.12). R1 RCM had a negative return on equity of 132.32% and a negative net margin of 10.70%. The firm had revenue of $250.40 million during the quarter, compared to analysts’ expectations of $240.09 million. During the same period in the previous year, the company earned ($0.08) earnings per share. R1 RCM’s revenue for the quarter was up 103.2% on a year-over-year basis. As a group, equities analysts anticipate that R1 RCM Inc will post -0.18 EPS for the current year.

RCM has been the subject of several recent research reports. Cantor Fitzgerald boosted their price objective on R1 RCM from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Friday, August 10th. Zacks Investment Research downgraded R1 RCM from a “hold” rating to a “sell” rating in a research report on Tuesday, August 21st. BidaskClub upgraded R1 RCM from a “hold” rating to a “buy” rating in a research report on Thursday, August 30th. Chardan Capital began coverage on R1 RCM in a research report on Tuesday, September 4th. They issued a “buy” rating and a $17.00 price objective for the company. Finally, TheStreet raised R1 RCM from a “d+” rating to a “c” rating in a research note on Tuesday, September 4th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $11.05.

In other news, Director Albert Rene Zimmerli bought 10,000 shares of the stock in a transaction on Thursday, September 6th. The shares were bought at an average price of $9.73 per share, with a total value of $97,300.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $97,300. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles J. Ditkoff sold 20,635 shares of the stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $8.47, for a total value of $174,778.45. The disclosure for this sale can be found here. 59.40% of the stock is currently owned by corporate insiders.

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R1 RCM Profile

R1 RCM Inc provides revenue cycle management (RCM) for healthcare providers in the United States. It offers end-to-end RCM services to manage their revenue cycle operations, which encompass patient registration, insurance and benefit verification, medical treatment documentation and coding, and bill preparation and collection from patients and payers.

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Institutional Ownership by Quarter for R1 RCM (NASDAQ:RCM)

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