Invenomic Capital Management LP Takes $2.15 Million Position in Convey Health Solutions Holdings, Inc. (NYSE:CNVY)

Invenomic Capital Management LP acquired a new stake in shares of Convey Health Solutions Holdings, Inc. (NYSE:CNVYGet Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 256,951 shares of the company’s stock, valued at approximately $2,148,000. Invenomic Capital Management LP owned approximately 0.35% of Convey Health Solutions as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Citigroup Inc. grew its holdings in Convey Health Solutions by 123.7% during the 4th quarter. Citigroup Inc. now owns 3,434 shares of the company’s stock worth $29,000 after acquiring an additional 1,899 shares during the last quarter. New York State Common Retirement Fund acquired a new position in shares of Convey Health Solutions during the fourth quarter worth $51,000. California State Teachers Retirement System bought a new stake in shares of Convey Health Solutions in the third quarter worth $61,000. American International Group Inc. acquired a new stake in Convey Health Solutions in the third quarter valued at $62,000. Finally, Deutsche Bank AG bought a new position in Convey Health Solutions during the 3rd quarter worth $65,000. Institutional investors and hedge funds own 90.73% of the company’s stock.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research cut Convey Health Solutions from a “hold” rating to a “sell” rating in a research note on Wednesday, April 6th. Barclays decreased their price objective on shares of Convey Health Solutions from $16.00 to $12.00 in a research report on Monday, February 7th. The Goldman Sachs Group dropped their target price on shares of Convey Health Solutions from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, March 24th. Guggenheim initiated coverage on Convey Health Solutions in a report on Wednesday, April 6th. They set a “buy” rating and a $12.00 price target for the company. Finally, Canaccord Genuity Group dropped their price objective on Convey Health Solutions from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, March 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Convey Health Solutions currently has an average rating of “Buy” and an average price target of $12.75.

Shares of NYSE CNVY traded down $0.13 during midday trading on Friday, hitting $4.95. 45,423 shares of the stock traded hands, compared to its average volume of 60,371. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.81 and a current ratio of 2.45. Convey Health Solutions Holdings, Inc. has a one year low of $4.81 and a one year high of $14.29. The business has a 50 day moving average price of $5.88 and a two-hundred day moving average price of $6.56. The company has a market cap of $362.29 million and a PE ratio of -29.12.

Convey Health Solutions (NYSE:CNVYGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.07). Convey Health Solutions had a negative net margin of 2.90% and a positive return on equity of 0.64%. As a group, equities research analysts forecast that Convey Health Solutions Holdings, Inc. will post 0.35 EPS for the current fiscal year.

Convey Health Solutions Profile (Get Rating)

Convey Health Solutions Holdings, Inc provides technology enabled solutions and advisory services to assist its clients with workflows across product developments, sales, member experience, clinical management, core operations, and business intelligence and analytics. It operates through two segments, Technology Enabled Solutions and Advisory Services.

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Institutional Ownership by Quarter for Convey Health Solutions (NYSE:CNVY)

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