Advantage Alpha Capital Partners LP Trims Stock Position in RadNet, Inc. (NASDAQ:RDNT)

Advantage Alpha Capital Partners LP lessened its position in shares of RadNet, Inc. (NASDAQ:RDNT) by 8.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,745 shares of the medical research company’s stock after selling 3,897 shares during the period. Advantage Alpha Capital Partners LP owned approximately 0.06% of RadNet worth $2,846,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. HighTower Advisors LLC raised its position in shares of RadNet by 1.8% in the third quarter. HighTower Advisors LLC now owns 7,861 shares of the medical research company’s stock worth $545,000 after buying an additional 136 shares in the last quarter. Highland Capital Management LLC increased its stake in RadNet by 6.5% in the 4th quarter. Highland Capital Management LLC now owns 3,307 shares of the medical research company’s stock worth $231,000 after acquiring an additional 202 shares during the last quarter. Virtue Capital Management LLC raised its holdings in shares of RadNet by 1.4% in the 3rd quarter. Virtue Capital Management LLC now owns 19,389 shares of the medical research company’s stock valued at $1,345,000 after acquiring an additional 264 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of RadNet by 4.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,389 shares of the medical research company’s stock valued at $516,000 after acquiring an additional 302 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of RadNet by 84.3% in the fourth quarter. Fifth Third Bancorp now owns 667 shares of the medical research company’s stock worth $47,000 after purchasing an additional 305 shares during the last quarter. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RDNT has been the topic of a number of recent analyst reports. Raymond James upgraded shares of RadNet from an “outperform” rating to a “strong-buy” rating and dropped their target price for the company from $85.00 to $65.00 in a research report on Wednesday, March 5th. Truist Financial reissued a “buy” rating and issued a $88.00 target price (down previously from $94.00) on shares of RadNet in a research note on Wednesday, January 22nd. Barclays lowered their price target on RadNet from $85.00 to $74.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. StockNews.com raised RadNet to a “sell” rating in a report on Wednesday, March 19th. Finally, Jefferies Financial Group cut their target price on RadNet from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $76.75.

RadNet Trading Down 0.9 %

NASDAQ RDNT opened at $49.25 on Monday. The firm has a market cap of $3.65 billion, a PE ratio of -703.47 and a beta of 1.85. RadNet, Inc. has a 1-year low of $45.82 and a 1-year high of $93.65. The stock has a 50-day moving average of $58.78 and a 200-day moving average of $67.53. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.89.

RadNet (NASDAQ:RDNT) last announced its quarterly earnings data on Thursday, February 27th. The medical research company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. RadNet had a positive return on equity of 4.29% and a negative net margin of 0.25%. The firm had revenue of $477.10 million during the quarter, compared to the consensus estimate of $459.42 million. As a group, sell-side analysts forecast that RadNet, Inc. will post 0.56 EPS for the current year.

Insider Activity

In related news, Director David L. Swartz sold 25,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $50.84, for a total value of $1,271,000.00. Following the completion of the sale, the director now owns 174,067 shares of the company’s stock, valued at $8,849,566.28. This trade represents a 12.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Cornelis Wesdorp sold 1,000 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $50.52, for a total transaction of $50,520.00. Following the transaction, the chief executive officer now directly owns 55,995 shares in the company, valued at approximately $2,828,867.40. The trade was a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,000 shares of company stock valued at $1,926,730. Insiders own 5.12% of the company’s stock.

RadNet Company Profile

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.