Acuitas Investments LLC Takes Position in FONAR Co. (NASDAQ:FONR)

Acuitas Investments LLC purchased a new stake in shares of FONAR Co. (NASDAQ:FONR) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 218,646 shares of the medical equipment provider’s stock, valued at approximately $4,277,000. FONAR makes up 2.1% of Acuitas Investments LLC’s portfolio, making the stock its 8th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Money Concepts Capital Corp increased its position in shares of FONAR by 1.3% during the third quarter. Money Concepts Capital Corp now owns 311,822 shares of the medical equipment provider’s stock valued at $4,802,000 after buying an additional 3,870 shares during the period. Brandywine Global Investment Management LLC increased its position in shares of FONAR by 1.9% during the third quarter. Brandywine Global Investment Management LLC now owns 87,606 shares of the medical equipment provider’s stock valued at $1,349,000 after buying an additional 1,600 shares during the period. Finally, Carmel Capital Partners LLC increased its position in shares of FONAR by 725.1% during the fourth quarter. Carmel Capital Partners LLC now owns 12,088 shares of the medical equipment provider’s stock valued at $236,000 after buying an additional 10,623 shares during the period. 50.64% of the stock is currently owned by institutional investors.

FONAR Price Performance

Shares of FONR traded up $0.18 during midday trading on Wednesday, hitting $16.19. 17,005 shares of the company traded hands, compared to its average volume of 18,899. The stock has a 50-day moving average of $20.81 and a 200-day moving average of $18.90. FONAR Co. has a one year low of $12.13 and a one year high of $24.05. The firm has a market cap of $102.48 million, a P/E ratio of 8.80 and a beta of 1.12.

FONAR (NASDAQ:FONR) last posted its quarterly earnings data on Wednesday, February 14th. The medical equipment provider reported $0.54 earnings per share for the quarter. The company had revenue of $25.39 million for the quarter. FONAR had a net margin of 12.63% and a return on equity of 8.47%.

FONAR Profile

FONAR Corporation, together with its subsidiaries, engages in the research, development, production, and marketing of magnetic resonance imaging (MRI) scanners for the detection and diagnosis of human diseases in the United States. The company operates in two segments, Medical Equipment, and Physician Management and Diagnostic Services.