2,047,733 Shares in Change Healthcare Inc. (NASDAQ:CHNG) Bought by Citadel Advisors LLC

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Citadel Advisors LLC bought a new position in Change Healthcare Inc. (NASDAQ:CHNG) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,047,733 shares of the company’s stock, valued at approximately $29,897,000. Citadel Advisors LLC owned 1.73% of Change Healthcare at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Daiwa Securities Group Inc. bought a new position in shares of Change Healthcare during the second quarter valued at $146,000. Jefferies Group LLC bought a new position in shares of Change Healthcare during the second quarter valued at $219,000. GSA Capital Partners LLP bought a new position in shares of Change Healthcare during the second quarter valued at $248,000. SG Americas Securities LLC bought a new position in shares of Change Healthcare during the second quarter valued at $337,000. Finally, AMP Capital Investors Ltd bought a new position in shares of Change Healthcare during the second quarter valued at $529,000. 88.66% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:CHNG traded up $0.39 during midday trading on Friday, reaching $13.24. The company’s stock had a trading volume of 2,029,179 shares, compared to its average volume of 1,302,508. The stock’s fifty day simple moving average is $13.62. Change Healthcare Inc. has a fifty-two week low of $11.24 and a fifty-two week high of $15.50.

Change Healthcare (NASDAQ:CHNG) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.18. The firm had revenue of $814.00 million during the quarter, compared to analyst estimates of $795.66 million. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, analysts predict that Change Healthcare Inc. will post 1.48 EPS for the current fiscal year.

A number of research analysts have issued reports on CHNG shares. Citigroup started coverage on Change Healthcare in a report on Monday, July 22nd. They set a “buy” rating and a $22.00 price objective for the company. Leerink Swann started coverage on Change Healthcare in a report on Monday, July 22nd. They set an “outperform” rating and a $20.00 price objective for the company. Guggenheim started coverage on Change Healthcare in a report on Monday, July 22nd. They set a “buy” rating and a $17.00 price objective for the company. Cowen started coverage on Change Healthcare in a research note on Monday, July 22nd. They issued an “outperform” rating and a $17.00 target price for the company. Finally, William Blair started coverage on Change Healthcare in a research note on Monday, July 22nd. They issued an “outperform” rating for the company. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $19.04.

In other news, Director Bansi Nagji acquired 5,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was purchased at an average cost of $13.00 per share, for a total transaction of $65,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Crescenzo Neil E. De acquired 75,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $14.17 per share, with a total value of $1,062,750.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 578,209 shares of company stock valued at $7,783,190. Corporate insiders own 20.77% of the company’s stock.

Change Healthcare Company Profile

Change Healthcare Inc, an independent healthcare technology platform, provides data and analytics-driven solutions to improve clinical, financial, and patient engagement outcomes in the United States healthcare system. It operates in three segments: Software and Analytics, Network Solutions, and Technology-Enabled Services.

See Also: Earnings Per Share

Institutional Ownership by Quarter for Change Healthcare (NASDAQ:CHNG)

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