Is RadNet Inc. (RDNT) Going to Burn These Hedge Funds?

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Because RadNet Inc. (NASDAQ:RDNT) has sustained declining sentiment from the aggregate hedge fund industry, we can see that there were a few fund managers who sold off their entire stakes heading into Q4. At the top of the heap, James Dondero’s Highland Capital Management said goodbye to the biggest investment of the “upper crust” of funds monitored by Insider Monkey, totaling an estimated $0.2 million in stock, and Ken Griffin’s Citadel Investment Group was right behind this move, as the fund dropped about $0.1 million worth of shares.

Let’s now take a look at hedge fund activity in other stocks similar to RadNet Inc. (NASDAQ:RDNT). These stocks are Corvus Pharmaceuticals Inc (NASDAQ:CRVS), Natural Resource Partners LP (NYSE:NRP), Arlington Asset Investment Corp (NYSE:AI), and Vivint Solar Inc (NYSE:VSLR). This group of stocks’ market caps are closest to RDNT’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CRVS 5 105640 0
NRP 5 6188 5
AI 6 12969 1
VSLR 4 11539 -2

As you can see these stocks had an average of 5 hedge funds with bullish positions and the average amount invested in these stocks was $34 million. That figure was $39 million in RDNT’s case. Arlington Asset Investment Corp (NYSE:AI) is the most popular stock in this table. On the other hand Vivint Solar Inc (NYSE:VSLR) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks RadNet Inc. (NASDAQ:RDNT) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None


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