The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. R1 RCM Inc. shares valued at $306,375,000 were sold by TCP-ASC ACHI Series LLLP on Sep 13. At $20.43 per share, TCP-ASC ACHI Series LLLP sold 15,000,000 shares. The insider’s holdings dropped to 164,754,055 shares worth approximately $3.24 billion following the completion of this transaction.
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Also, SPARBY JOHN M. sold 40,000 shares, netting a total of over 1,000,280 in proceeds. Following the sale of shares at $25.01 each, the insider now holds 123,772 shares.
Before that, FLANAGAN JOSEPH GERARD had sold 200,000 shares from its account. In a trade valued at $4,996,600, the Chief Executive Officer traded R1 RCM Inc. shares for $24.98 each. Upon closing the transaction, the insider’s holdings decreased to 200,000 shares, worth approximately $54.98 million.
As published in their initiating research note from KeyBanc Capital Markets on September 16, 2022, R1 RCM Inc. [RCM] has been an Overweight and the price target has been revised to $30. This represents a 34.37% premium over Wednesday’s closing price. Analysts at Truist started covering the stock with ‘”a Buy”‘ outlook in a report released in early September.
Analyzing RCM’s Price Performance
On Wednesday, R1 RCM Inc. [NASDAQ: RCM] plunged -1.06% to $19.69. The stock’s lowest price that day was $19.69, but it reached a high of $20.48 in the same session. During the last five days, there has been a drop of approximately -7.12%. Over the course of the year, R1 RCM Inc. shares have dropped approximately -22.75%. Shares of the company reached a 52-week high of $27.86 on 04/12/22 and a 52-week low of $18.73 on 05/09/22. A 50-day SMA is recorded $23.42, while a 200-day SMA reached $23.60. Nevertheless, trading volume fell to 1.22 million shares from 1.56 million shares the previous day.
Support And Resistance Levels for R1 RCM Inc. (RCM)
According to the 24-hour chart, there is a support level at 19.43, which, if violated, would cause prices to drop to 19.16. In the upper region, resistance lies at 20.22. The next price resistance is at 20.74. RSI (Relative Strength Index) is 32.92 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.17, which suggests the price will decrease in the coming days. Percent R is at 97.13%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is R1 RCM Inc. subject to short interest?
Stocks of R1 RCM Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.17 million shares to 6.87 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 6.7 million shares. A jump of 2.47% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.87 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.87.
Which companies own the most shares of R1 RCM Inc. (RCM)?
According to BlackRock Fund Advisors filings, the company currently owns 13,630,090 shares, which is about 3.28% of the total RCM shares outstanding. The investor’s shares have appreciated by 837,119 from its previous 13-F filing of 12792971.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $284,596,141. Fidelity Management & Research Co reduced a -2.23% interest valued at $138.29 million while Eaton Vance Management purchased a 283,505 stake. A total of 124,351 shares of R1 RCM Inc. were bought by SSgA Funds Management, Inc. during the quarter, and 342,680 were bought by AllianceBernstein LP. In its current portfolio, American Century Investment Manag holds 3,896,524 shares valued at $85.14 million.
In terms of R1 RCM Inc. share price expectations, FactSet research, analysts set an average price target of $31.91 in the next 12 months, up nearly 60.8% from the previous closing price of $19.90. Analysts anticipate R1 RCM Inc. stock to reach $35.00 by 2022, with the lowest price target being $29.00. In spite of this, 12 analysts ranked R1 RCM Inc. stock as a Buy at the end of 2022.