Convey Health Solutions Holdings, Inc. (NYSE:CNVY) Short Interest Up 74.2% in August

Convey Health Solutions Holdings, Inc. (NYSE:CNVY – Get Rating) was the target of a significant increase in short interest in August. As of August 15th, there was short interest totalling 524,100 shares, an increase of 74.2% from the July 31st total of 300,900 shares. Currently, 3.4% of the company’s shares are short sold. Based on an average daily volume of 403,300 shares, the days-to-cover ratio is currently 1.3 days.

Hedge Funds Weigh In On Convey Health Solutions

Several institutional investors have recently modified their holdings of CNVY. JPMorgan Chase & Co. increased its position in shares of Convey Health Solutions by 12,363.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 825,972 shares of the company’s stock valued at $8,590,000 after purchasing an additional 819,345 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Convey Health Solutions by 67.6% during the 1st quarter. Wellington Management Group LLP now owns 1,507,805 shares of the company’s stock valued at $9,861,000 after acquiring an additional 607,954 shares during the period. Bank of America Corp DE boosted its holdings in Convey Health Solutions by 866.9% during the 4th quarter. Bank of America Corp DE now owns 313,797 shares of the company’s stock valued at $2,623,000 after acquiring an additional 281,344 shares during the period. Invenomic Capital Management LP purchased a new stake in Convey Health Solutions during the 4th quarter valued at about $2,148,000. Finally, Rice Hall James & Associates LLC purchased a new stake in Convey Health Solutions during the 4th quarter valued at about $1,922,000. 90.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Barclays cut Convey Health Solutions from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $12.00 to $11.00 in a research report on Wednesday, June 22nd. Canaccord Genuity Group cut Convey Health Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd. Finally, Guggenheim cut Convey Health Solutions from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 22nd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $11.40.

Convey Health Solutions Price Performance

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Shares of Convey Health Solutions stock opened at $10.49 on Friday. The company has a current ratio of 2.20, a quick ratio of 1.60 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $767.81 million, a PE ratio of -104.90 and a beta of -0.43. The business’s 50-day moving average price is $10.32 and its 200-day moving average price is $7.31. Convey Health Solutions has a 12 month low of $3.75 and a 12 month high of $10.61.

About Convey Health Solutions

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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.