Advantage Alpha Capital Partners LP Has $3.71 Million Stock Holdings in RadNet, Inc. $RDNT

Key Points

• Advantage Alpha Capital Partners LP increased its holdings in RadNet, Inc. by 83.2% in the first quarter, now owning approximately $3.71 million worth of the company's stock.
• Other institutional investors, such as American Century Companies Inc. and T. Rowe Price Investment Management Inc., also significantly boosted their stakes in RadNet during the same period, with increases of 507.9% and 81.4%, respectively.
• RadNet recently reported a quarterly EPS of $0.31, surpassing analyst estimates, and indicated that its revenue grew 8.4% year-over-year.

Advantage Alpha Capital Partners LP grew its holdings in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 83.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 74,628 shares of the medical research company's stock after buying an additional 33,883 shares during the quarter. Advantage Alpha Capital Partners LP owned approximately 0.10% of RadNet worth $3,711,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. increased its position in RadNet by 507.9% in the first quarter. American Century Companies Inc. now owns 1,272,928 shares of the medical research company's stock worth $63,290,000 after purchasing an additional 1,063,516 shares during the period. T. Rowe Price Investment Management Inc. increased its position in RadNet by 81.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,657,613 shares of the medical research company's stock worth $82,417,000 after purchasing an additional 743,922 shares during the period. Nuveen LLC acquired a new stake in RadNet in the first quarter worth about $27,422,000. Ameriprise Financial Inc. increased its position in RadNet by 180.6% in the first quarter. Ameriprise Financial Inc. now owns 776,160 shares of the medical research company's stock worth $38,593,000 after purchasing an additional 499,534 shares during the period. Finally, Tidal Investments LLC increased its position in RadNet by 7,219.2% in the fourth quarter. Tidal Investments LLC now owns 389,308 shares of the medical research company's stock worth $27,189,000 after purchasing an additional 383,989 shares during the period. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP David Jeffrey Katz sold 17,000 shares of RadNet stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $68.31, for a total transaction of $1,161,270.00. Following the transaction, the executive vice president owned 86,774 shares in the company, valued at $5,927,531.94. The trade was a 16.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ranjan Jayanathan sold 65,598 shares of RadNet stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $67.50, for a total value of $4,427,865.00. Following the transaction, the insider owned 138,198 shares in the company, valued at $9,328,365. This trade represents a 32.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 84,098 shares of company stock worth $5,689,605 in the last 90 days. Corporate insiders own 5.60% of the company's stock.

RadNet Price Performance

RadNet stock opened at $68.61 on Friday. The firm has a market capitalization of $5.28 billion, a P/E ratio of -343.03 and a beta of 1.43. RadNet, Inc. has a 1 year low of $45.00 and a 1 year high of $93.65. The business has a 50-day moving average of $58.15 and a 200-day moving average of $55.99. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.91.

RadNet (NASDAQ:RDNT - Get Free Report) last posted its earnings results on Sunday, August 10th. The medical research company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.14. The company had revenue of $498.23 million during the quarter, compared to analyst estimates of $488.06 million. RadNet had a positive return on equity of 2.41% and a negative net margin of 0.78%.The company's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 EPS. On average, equities analysts anticipate that RadNet, Inc. will post 0.56 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on RDNT. Zacks Research upgraded RadNet from a "strong sell" rating to a "hold" rating in a research report on Monday. Morgan Stanley upgraded RadNet to an "overweight" rating in a research report on Monday, August 11th. Truist Financial set a $74.00 price objective on RadNet in a research report on Thursday, July 10th. Raymond James Financial reiterated a "strong-buy" rating and issued a $75.00 price objective (up from $66.00) on shares of RadNet in a research report on Wednesday, August 13th. Finally, Wall Street Zen upgraded RadNet from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $71.60.

About RadNet

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.

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