Eqis Capital Management Inc. Has $1.09 Million Position in RadNet Inc. (RDNT)
Eqis Capital Management Inc. lessened its stake in shares of RadNet Inc. (NASDAQ:RDNT) by 52.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,002 shares of the medical research company’s stock after selling 97,416 shares during the quarter. Eqis Capital Management Inc. owned 0.18% of RadNet worth $1,090,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. PNC Financial Services Group Inc. bought a new stake in shares of RadNet during the fourth quarter worth $36,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in RadNet by 157.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,624 shares of the medical research company’s stock valued at $37,000 after acquiring an additional 2,218 shares during the period. Financial Gravity Companies Inc. acquired a new position in RadNet in the fourth quarter valued at about $60,000. Bell & Brown Wealth Advisors LLC acquired a new position in RadNet in the fourth quarter valued at about $102,000. Finally, Virtu Financial LLC acquired a new position in RadNet in the fourth quarter valued at about $115,000. Institutional investors and hedge funds own 63.80% of the company’s stock.
RDNT opened at $12.24 on Friday. RadNet Inc. has a 52-week low of $9.97 and a 52-week high of $16.54. The stock has a market cap of $612.87 million, a P/E ratio of 15.69, a P/E/G ratio of 4.50 and a beta of 1.18. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.87 and a current ratio of 0.87.
RDNT has been the subject of several recent research reports. ValuEngine cut RadNet from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Raymond James lowered RadNet from a “strong-buy” rating to an “outperform” rating and upped their target price for the stock from $16.00 to $17.50 in a report on Friday, March 15th. They noted that the move was a valuation call. BidaskClub upgraded RadNet from a “hold” rating to a “buy” rating in a report on Saturday, February 2nd. Zacks Investment Research lowered RadNet from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, TheStreet upgraded RadNet from a “c” rating to a “b-” rating in a report on Friday, March 15th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. RadNet currently has a consensus rating of “Hold” and an average target price of $17.75.
In other RadNet news, VP Mark Stolper sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $14.99, for a total value of $224,850.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David L. Swartz sold 11,556 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $14.72, for a total value of $170,104.32. Following the completion of the sale, the director now owns 265,855 shares in the company, valued at approximately $3,913,385.60. The disclosure for this sale can be found here. Insiders have sold 46,556 shares of company stock worth $672,754 in the last quarter. 7.56% of the stock is currently owned by corporate insiders.
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RadNet, Inc, together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. 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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