Kornitzer Capital Management Inc. KS grew its stake in eHealth, Inc. (NASDAQ:EHTH) by 8.6% in the third quarter, Holdings Channel reports. The fund owned 154,265 shares of the financial services provider’s stock after purchasing an additional 12,220 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in eHealth were worth $10,303,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the business. JPMorgan Chase & Co. grew its holdings in shares of eHealth by 72.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 39,737 shares of the financial services provider’s stock worth $3,267,000 after purchasing an additional 16,640 shares during the period. Gradient Investments LLC purchased a new position in shares of eHealth during the 2nd quarter worth $1,236,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of eHealth by 14.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 3,743 shares of the financial services provider’s stock worth $322,000 after purchasing an additional 481 shares during the period. Allianz Asset Management GmbH purchased a new position in shares of eHealth during the 2nd quarter worth $8,718,000. Finally, Axiom International Investors LLC DE purchased a new position in shares of eHealth during the 2nd quarter worth $18,036,000. 99.83% of the stock is owned by institutional investors and hedge funds.
Shares of EHTH traded up $3.93 during midday trading on Friday, hitting $78.97. The company had a trading volume of 38,615 shares, compared to its average volume of 1,148,053. The company’s 50-day simple moving average is $65.54 and its 200-day simple moving average is $77.20. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.12 and a current ratio of 2.07. The firm has a market capitalization of $1.66 billion, a P/E ratio of 125.54 and a beta of 1.07. eHealth, Inc. has a 1 year low of $31.42 and a 1 year high of $112.22.
EHTH has been the subject of a number of research analyst reports. Zacks Investment Research cut eHealth from a “buy” rating to a “hold” rating in a report on Monday. Royal Bank of Canada set a $111.00 target price on eHealth and gave the company a “buy” rating in a report on Friday, October 25th. First Analysis upgraded eHealth from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $106.00 to $136.00 in a report on Monday, July 29th. Deutsche Bank initiated coverage on eHealth in a report on Thursday, September 12th. They set a “buy” rating and a $173.00 target price for the company. Finally, BidaskClub upgraded eHealth from a “sell” rating to a “hold” rating in a report on Saturday, November 2nd. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $114.73.
In related news, Director Beth A. Brooke acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of $82.24 per share, for a total transaction of $82,240.00. Following the purchase, the director now owns 2,460 shares of the company’s stock, valued at approximately $202,310.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO David K. Francis sold 2,000 shares of eHealth stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $109.54, for a total value of $219,080.00. The disclosure for this sale can be found here. In the last quarter, insiders bought 4,000 shares of company stock valued at $374,440 and sold 13,513 shares valued at $1,262,668. Company insiders own 5.00% of the company’s stock.
eHealth, Inc provides private health insurance exchange services to individuals, families, and small businesses in the United States and China. The company operates through two segments, Medicare; and Individual, Family and Small Business. Its e-commerce platforms organize and present health insurance information in various formats that enable individuals, families, and small businesses to research, analyze, compare, and purchase a range of health insurance plans.
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