Peapod Lane Capital LLC Acquires Shares of 142,601 FONAR Co. (NASDAQ:FONR)

Peapod Lane Capital LLC bought a new position in FONAR Co. (NASDAQ:FONR) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 142,601 shares of the medical equipment provider’s stock, valued at approximately $2,159,000. FONAR comprises about 2.1% of Peapod Lane Capital LLC’s investment portfolio, making the stock its 16th biggest holding.

Several other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC raised its holdings in shares of FONAR by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 18,690 shares of the medical equipment provider’s stock worth $303,000 after acquiring an additional 938 shares in the last quarter. JPMorgan Chase & Co. increased its position in FONAR by 148.3% in the third quarter. JPMorgan Chase & Co. now owns 3,012 shares of the medical equipment provider’s stock worth $49,000 after purchasing an additional 1,799 shares during the last quarter. Corsair Capital Management L.P. raised its stake in FONAR by 8.8% during the third quarter. Corsair Capital Management L.P. now owns 27,972 shares of the medical equipment provider’s stock valued at $453,000 after purchasing an additional 2,266 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its position in FONAR by 15.1% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 29,236 shares of the medical equipment provider’s stock valued at $443,000 after purchasing an additional 3,837 shares during the last quarter. Finally, Inspire Advisors LLC grew its stake in shares of FONAR by 21.2% in the 3rd quarter. Inspire Advisors LLC now owns 34,342 shares of the medical equipment provider’s stock worth $556,000 after buying an additional 5,998 shares in the last quarter. Hedge funds and other institutional investors own 50.64% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered FONAR from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 16th.

FONAR Stock Performance

Shares of FONAR stock opened at $16.20 on Thursday. The stock has a market cap of $102.55 million, a price-to-earnings ratio of 11.57 and a beta of 1.23. The stock has a 50 day moving average price of $15.47 and a 200-day moving average price of $16.05. FONAR Co. has a one year low of $14.05 and a one year high of $24.05.

FONAR (NASDAQ:FONR) last posted its quarterly earnings data on Tuesday, November 12th. The medical equipment provider reported $0.46 EPS for the quarter. FONAR had a net margin of 9.41% and a return on equity of 6.10%. The company had revenue of $24.96 million during the quarter.

About FONAR

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.