Advantage Alpha Capital Partners LP Has $3.10 Million Holdings in RadNet, Inc. (NASDAQ:RDNT)

Advantage Alpha Capital Partners LP cut its holdings in shares of RadNet, Inc. (NASDAQ:RDNT) by 22.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,642 shares of the medical research company’s stock after selling 13,004 shares during the period. Advantage Alpha Capital Partners LP owned about 0.06% of RadNet worth $3,098,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Covestor Ltd raised its stake in shares of RadNet by 10,875.0% in the third quarter. Covestor Ltd now owns 439 shares of the medical research company’s stock worth $30,000 after acquiring an additional 435 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of RadNet by 774.2% in the second quarter. Nisa Investment Advisors LLC now owns 848 shares of the medical research company’s stock valued at $50,000 after purchasing an additional 751 shares in the last quarter. GAMMA Investing LLC raised its position in RadNet by 74.7% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the medical research company’s stock worth $51,000 after purchasing an additional 370 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in RadNet during the 3rd quarter worth $68,000. Finally, Peterson Financial Group Inc. bought a new position in RadNet in the 3rd quarter valued at $90,000. 77.90% of the stock is owned by institutional investors and hedge funds.

RadNet Price Performance

Shares of NASDAQ RDNT opened at $81.47 on Tuesday. The company has a fifty day moving average price of $71.32 and a 200 day moving average price of $64.41. The firm has a market cap of $6.03 billion, a PE ratio of -1,163.86 and a beta of 1.75. 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, Inc. has a 1-year low of $32.01 and a 1-year high of $93.65.

Insider Transactions at RadNet

In other news, insider Ranjan Jayanathan sold 38,557 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $80.00, for a total value of $3,084,560.00. Following the completion of the transaction, the insider now owns 192,724 shares in the company, valued at $15,417,920. This trade represents a 16.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RDNT. Truist Financial upped their target price on shares of RadNet from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Barclays upgraded shares of RadNet from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $57.00 to $79.00 in a report on Friday, September 6th. Jefferies Financial Group lifted their target price on shares of RadNet from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Sidoti raised RadNet to a “strong-buy” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.75.

RadNet 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.