The Vanguard Group, Inc. recently announced the acquisition of new stake in R1 RCM Inc. (NASDAQ:RCM). The institutional investor has increased its shareholding in the Healthcare company by 5.44% to 17.7 million shares with purchase of 0.91 million shares. This fresh investment now brings its stake to 4.22% valued currently at $187.23 million. In addition, BlackRock Fund Advisors raised its holdings by 3.64 million to 15.15 million shares. And Citadel Advisors LLC has lifted its position by 22.85% or 1.89 million shares – to 10.19 million shares.
With over 5.49 million R1 RCM Inc. (RCM) shares trading Tuesday and a closing price of $9.15 on the day, the dollar volume was approximately $50.25 million. The shares have shown a negative half year performance of -47.92% and its price on 01/09/24 lost nearly -6.73%. Currently, there are 417.72M common shares owned by the public and among those 192.41M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Insiders at the company have transacted a total of 33 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 26 of these insider trades were purchases, accounting for 1,574,040 shares. Insider sales of the common stock occurred on 7 occasions, with total insider shares sold totaling 526,078 shares.
The top 3 mutual fund holders in R1 RCM Inc. are iShares Core S&P Mid Cap ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. iShares Core S&P Mid Cap ETF owns 6.07 million shares of the company’s stock, all valued at over $64.26 million. The company bought an additional 1078.0 shares recently to bring their total holdings to about 1.45% of the shares outstanding. Vanguard Total Stock Market ETF bought 9211.0 shares to see its total holdings expand to 5.95 million shares valued at over $62.94 million and representing 1.42% of the shares outstanding. Vanguard Small Cap Index Fund bought 14963.0 shares to bring its total holdings to over 4.88 million shares at a value of $51.64 million. Vanguard Small Cap Index Fund now owns shares totaling to 1.17% of the shares outstanding.
Shares of R1 RCM Inc. (NASDAQ: RCM) opened at $9.74, down -$0.07 from a prior closing price of $9.81. However, the script later moved the day high at 9.74, down -6.73%. The company’s stock has a 5-day price change of -14.25% and -33.84% over the past three months. RCM shares are trading -13.43% year to date (YTD), with the 12-month market performance down to -26.39% lower. It has a 12-month low price of $9.55 and touched a high of $18.70 over the same period. RCM has an average intraday trading volume of 4.13 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -12.06%, -14.37%, and -37.63% respectively.
Institutional ownership of R1 RCM Inc. (NASDAQ: RCM) shares accounts for 38.97% of the company’s 417.72M shares outstanding. Mutual fund holders own 21.81%, while other institutional holders and individual stakeholders account for 34.07% and 17.37% respectively.
It has a market capitalization of $3.84B and a beta (3y monthly) value of 0.74. The earnings-per-share (ttm) stands at -$0.08. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.81% over the week and 4.88% over the month.
Analysts forecast that R1 RCM Inc. (RCM) will achieve an EPS of $0.02 for the current quarter, $0.03 for the next quarter and $0.17 for 2024. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.08. Comparatively, EPS for the current quarter was -$0.09 a year ago. Earnings per share for the fiscal year are expected to increase by 242.16%, and 28.43% over the next financial year. EPS should shrink at an annualized rate of -2.50% over the next five years, compared to 24.86% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate R1 RCM Inc. (RCM) as a “Strong Buy” at a consensus score of 1.24. Specifically, 14 Wall Street analysts polled rate the stock as a buy, while 1 of the 17 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the RCM, a number of firms have released research notes about the stock. Barclays stated their Overweight rating for the stock in a research note on January 03, 2024, with the firm’s price target at $14.
