Verition Fund Management LLC cut its holdings in Change Healthcare Inc. (NASDAQ:CHNG – Get Rating) by 11.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,669 shares of the company's stock after selling 15,769 shares during the period. Verition Fund Management LLC's holdings in Change Healthcare were worth $2,543,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new position in Change Healthcare during the 1st quarter worth $36,000. C M Bidwell & Associates Ltd. acquired a new position in Change Healthcare during the 1st quarter worth $90,000. Parkside Financial Bank & Trust lifted its position in Change Healthcare by 40.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 4,858 shares of the company's stock worth $105,000 after acquiring an additional 1,407 shares during the last quarter. MetLife Investment Management LLC acquired a new position in Change Healthcare during the 1st quarter worth $109,000. Finally, FNY Investment Advisers LLC lifted its position in Change Healthcare by 5,400.0% during the 1st quarter. FNY Investment Advisers LLC now owns 5,500 shares of the company's stock worth $119,000 after acquiring an additional 5,400 shares during the last quarter. 91.47% of the stock is currently owned by institutional investors.
Get Change Healthcare alerts:Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. William Blair reissued a "market perform" rating on shares of Change Healthcare in a research report on Friday, June 3rd. Truist Financial initiated coverage on shares of Change Healthcare in a research report on Wednesday, September 7th. They set a "hold" rating and a $27.75 target price for the company. Cowen set a $27.75 price objective on shares of Change Healthcare in a research report on Monday, June 20th. SVB Leerink reaffirmed an "outperform" rating on shares of Change Healthcare in a research report on Thursday, May 26th. Finally, Credit Suisse Group upped their price objective on shares of Change Healthcare from $25.75 to $27.75 and gave the company a "neutral" rating in a research report on Tuesday, May 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Change Healthcare presently has an average rating of "Moderate Buy" and an average target price of $27.40.
Change Healthcare Stock Performance
NASDAQ CHNG opened at $25.49 on Friday. The stock has a market cap of $8.37 billion, a P/E ratio of -106.21, a PEG ratio of 3.11 and a beta of 1.02. The company's 50-day simple moving average is $24.45 and its 200 day simple moving average is $23.48. Change Healthcare Inc. has a twelve month low of $18.97 and a twelve month high of $25.71. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.36.Change Healthcare Profile
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Change Healthcare Inc, an independent healthcare technology company, provides data and analytics-driven solutions to enhance clinical, financial, administrative, and patient engagement outcomes in the United States healthcare system. It operates through three segments: Software and Analytics, Network Solutions, and Technology-Enabled Services.
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