Signify Health Target of Unusually Large Options Trading (NYSE:SGFY)

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Signify Health, Inc. (NYSE:SGFYGet Rating) saw some unusual options trading on Tuesday. Stock traders acquired 8,435 call options on the stock. This is an increase of approximately 279% compared to the typical daily volume of 2,223 call options.

Institutional Trading of Signify Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ARK Investment Management LLC increased its position in Signify Health by 4.2% in the 2nd quarter. ARK Investment Management LLC now owns 21,882,411 shares of the company’s stock valued at $298,257,000 after buying an additional 890,181 shares in the last quarter. Frontier Capital Management Co. LLC increased its position in Signify Health by 71.4% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 2,956,188 shares of the company’s stock valued at $40,795,000 after buying an additional 1,231,088 shares in the last quarter. Point72 Asset Management L.P. increased its position in Signify Health by 88.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,437,800 shares of the company’s stock valued at $33,642,000 after buying an additional 1,146,372 shares in the last quarter. Vanguard Group Inc. increased its position in Signify Health by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 2,325,058 shares of the company’s stock valued at $42,200,000 after buying an additional 29,828 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Signify Health by 38.6% in the 2nd quarter. Principal Financial Group Inc. now owns 1,301,297 shares of the company’s stock valued at $17,958,000 after buying an additional 362,380 shares in the last quarter. 90.07% of the stock is owned by institutional investors.

Signify Health Stock Performance

SGFY stock opened at $29.10 on Wednesday. The stock has a 50-day moving average price of $19.30 and a 200-day moving average price of $16.23. Signify Health has a 1-year low of $10.70 and a 1-year high of $29.88. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.31. The firm has a market cap of $6.82 billion, a PE ratio of -15.24 and a beta of 0.71.

Signify Health (NYSE:SGFYGet Rating) last issued its earnings results on Wednesday, August 3rd. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.13. Signify Health had a positive return on equity of 5.82% and a negative net margin of 40.14%. The business had revenue of $246.20 million during the quarter, compared to analyst estimates of $249.57 million. As a group, equities research analysts expect that Signify Health will post -1.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SGFY shares. Robert W. Baird downgraded Signify Health from an “outperform” rating to a “neutral” rating and raised their price objective for the company from $28.00 to $30.50 in a report on Tuesday. JPMorgan Chase & Co. lowered Signify Health from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $32.00 to $30.50 in a research report on Tuesday. Piper Sandler lowered Signify Health from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $34.00 to $30.50 in a research report on Tuesday. William Blair lowered Signify Health from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Finally, Cowen raised their target price on Signify Health to $24.00 in a research report on Monday, August 15th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $27.17.

Signify Health Company Profile

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Signify Health, Inc operates a healthcare platform that utilizes analytics, technology, and healthcare provider networks in the United States. The company operates through Home & Community Services and Episodes of Care Services segments. The Home & Community Services segment offers health evaluations performed within the patient’s home or at a healthcare provider facility primarily to Medicare Advantage health plans; diagnostic screening and other ancillary services; and services to address healthcare concerns related to social determinants of health.

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