Greycroft LP Purchases New Position in Bright Health Group, Inc. (NYSE:BHG)

Greycroft LP purchased a new stake in shares of Bright Health Group, Inc. (NYSE:BHGGet Rating) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 11,068,221 shares of the company’s stock, valued at approximately $38,075,000. Bright Health Group comprises approximately 32.3% of Greycroft LP’s holdings, making the stock its largest holding.

A number of other institutional investors and hedge funds have also modified their holdings of the business. StepStone Group LP acquired a new stake in Bright Health Group in the third quarter valued at approximately $364,352,000. Legacy Wealth Asset Management LLC acquired a new stake in Bright Health Group in the fourth quarter valued at approximately $21,836,000. Boston Partners acquired a new stake in Bright Health Group in the fourth quarter valued at approximately $11,867,000. BlackRock Inc. acquired a new stake in shares of Bright Health Group in the third quarter worth approximately $19,261,000. Finally, Nwam LLC acquired a new stake in shares of Bright Health Group in the fourth quarter worth approximately $4,616,000.

In other Bright Health Group news, Director Manuel Kadre bought 100,000 shares of the business’s stock in a transaction dated Friday, March 4th. The shares were acquired at an average cost of $2.09 per share, with a total value of $209,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

NYSE:BHG traded down $0.02 during mid-day trading on Friday, hitting $1.92. The stock had a trading volume of 1,317,915 shares, compared to its average volume of 3,266,569. Bright Health Group, Inc. has a twelve month low of $1.60 and a twelve month high of $17.93. The stock has a 50-day simple moving average of $1.96 and a two-hundred day simple moving average of $3.01. The company has a market capitalization of $1.21 billion and a PE ratio of -0.81.

Bright Health Group (NYSE:BHGGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.08). Bright Health Group had a negative return on equity of 87.57% and a negative net margin of 27.15%. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the business posted ($0.18) EPS. The firm’s revenue for the quarter was up 109.9% compared to the same quarter last year. As a group, equities analysts anticipate that Bright Health Group, Inc. will post -1.6 EPS for the current fiscal year.

A number of equities analysts recently commented on the company. Morgan Stanley reduced their price objective on Bright Health Group from $4.00 to $2.00 and set an “underweight” rating on the stock in a research report on Thursday, March 3rd. Barclays lowered their target price on shares of Bright Health Group from $5.50 to $4.00 and set an “overweight” rating for the company in a research note on Thursday, March 3rd. Bank of America lowered shares of Bright Health Group from a “buy” rating to an “underperform” rating in a research note on Wednesday, March 2nd. The Goldman Sachs Group lowered their price objective on shares of Bright Health Group from $5.00 to $3.50 and set a “neutral” rating for the company in a research note on Thursday, March 3rd. Finally, Piper Sandler lowered their price objective on shares of Bright Health Group from $10.00 to $5.00 and set an “overweight” rating for the company in a research note on Thursday, March 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $7.32.

About Bright Health Group (Get Rating)

Bright Health Group, Inc, a healthcare company, provides health insurance policies in the United States. It operates in two segments, NeueHealth and Bright HealthCare. The NeueHealth segment delivers virtual and in-person clinical care services to patients under contracts through its owned and affiliated primary care clinics.

Further Reading

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Institutional Ownership by Quarter for Bright Health Group (NYSE:BHG)

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