GAMMA Investing LLC Increases Holdings in RadNet, Inc. (NASDAQ:RDNT)

GAMMA Investing LLC raised its stake in RadNet, Inc. (NASDAQ:RDNT - Free Report) by 5,981.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 81,740 shares of the medical research company's stock after acquiring an additional 80,396 shares during the period. GAMMA Investing LLC owned approximately 0.11% of RadNet worth $4,064,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of RDNT. Virtue Capital Management LLC increased its holdings in shares of RadNet by 6.4% in the fourth quarter. Virtue Capital Management LLC now owns 20,628 shares of the medical research company's stock worth $1,441,000 after purchasing an additional 1,239 shares during the last quarter. Squarepoint Ops LLC purchased a new position in RadNet during the 4th quarter valued at approximately $3,407,000. Twinbeech Capital LP bought a new stake in RadNet in the 4th quarter worth approximately $1,420,000. Two Sigma Advisers LP raised its holdings in shares of RadNet by 217.1% during the 4th quarter. Two Sigma Advisers LP now owns 24,100 shares of the medical research company's stock worth $1,683,000 after acquiring an additional 16,500 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of RadNet by 46.0% in the fourth quarter. Two Sigma Investments LP now owns 81,065 shares of the medical research company's stock valued at $5,662,000 after purchasing an additional 25,529 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company's stock.

Insider Buying and Selling at RadNet

In other news, EVP Alma Gregory Sorensen sold 55,000 shares of RadNet stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $56.48, for a total transaction of $3,106,400.00. Following the completion of the sale, the executive vice president now directly owns 1,160,509 shares in the company, valued at approximately $65,545,548.32. This trade represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Norman R. Hames sold 5,000 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $49.79, for a total transaction of $248,950.00. Following the sale, the chief operating officer now directly owns 261,959 shares of the company's stock, valued at $13,042,938.61. This represents a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,447 shares of company stock worth $4,113,270 over the last 90 days. Company insiders own 5.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RDNT. Raymond James raised shares of RadNet from an "outperform" rating to a "strong-buy" rating and decreased their price target for the company from $85.00 to $65.00 in a research note on Wednesday, March 5th. Barclays decreased their target price on shares of RadNet from $74.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Truist Financial dropped their price target on RadNet from $88.00 to $74.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Wall Street Zen cut RadNet from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One 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. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $69.75.

RadNet Trading Down 2.2%

Shares of RDNT stock traded down $1.29 during trading hours on Thursday, reaching $56.58. 458,784 shares of the stock were exchanged, compared to its average volume of 689,020. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of -808.17 and a beta of 1.43. RadNet, Inc. has a 12-month low of $45.00 and a 12-month high of $93.65. The company's 50-day moving average price is $54.84 and its 200-day moving average price is $60.75. 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 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.