In the world of finance, savvy investors are constantly seeking out opportunities to capitalize on emerging trends and technologies. One such company that has garnered attention in recent years is eHealth, Inc. (NASDAQ:EHTH), a provider of internet-based health insurance agency services.
Recently, GSA Capital Partners LLP made news when it was revealed that the firm had purchased a new stake in eHealth during the fourth quarter of 2023. The fund acquired a total of 176,477 shares of eHealth’s stock at an estimated value of $854,000, making it the owner of approximately 0.64% of the company.
Many equities researchers have been keeping a close eye on eHealth in light of its recent growth and expansion into new markets. In March 2023 alone, several analysts released reports on the company’s prospects and performance.
One noteworthy report was issued by Craig Hallum, which raised its price objective for eHealth from $6 to $11 per share. Meanwhile, Royal Bank of Canada decreased its price objective from $16 to $13 but still rated the stock as “sector perform.” Citigroup also boosted its target price from $4.50 to $10 while giving eHealth a “neutral” rating.
Despite varying opinions among these analysts, many agree that eHealth is worthy of consideration as an investment opportunity – and with good reason. After all, the company operates across multiple segments focused on helping individuals and small businesses secure affordable healthcare options through its convenient online platform.
As we look ahead to June 3rd and beyond, there’s no telling what future developments may occur for eHealth – but one thing is clear: investors who are paying attention stand to benefit from this exciting area of finance and technology innovation.
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Changes in ownership and insider acquisitions at eHealth Inc.
The financial services provider, eHealth Inc., has been experiencing significant changes in the ownership of their shares with multiple hedge funds either reducing or adding to their stakes. Renaissance Technologies LLC saw a 269.7% growth in holdings during the first quarter, acquiring an additional 471,905 shares worth $8,028,000. Other hedge funds such as Redwood Investment Management LLC and Marshall Wace LLP have also increased their holdings by 144.9% and 460.6%, respectively.
On the other hand, Palo Alto Investors LP grew its position by 19.5% in the third quarter after purchasing an additional 323,300 shares for a total of $7,734,000, while Federated Hermes Inc. acquired a new stake worth approximately $3,202,000. As a result of these transactions and others like them, around 70.49% of eHealth’s stock is currently owned by hedge funds and institutional investors.
In addition to these changes in ownership, insiders have also made purchases of eHealth stock recently. SVP Gavin G. Galimi bought 5,500 shares on May 30th at an average cost of $6.52 per share for a total value of $35,860 while Director Dale B Wolf purchased 10,264 shares at an average cost of $6.37 per share for a total transaction value of $65,381.
eHealth is a company that provides Internet-based health insurance agency services mainly to individuals, families and small businesses through its Medicare and Individual Family Small Business segments with commissions earned from sale of Medicare-related health insurance plans.
EHTH stock opened at $6.87 on Friday with a debt-to-equity ratio of 0.11; the company is well-positioned to take advantage of current trends in the market despite not having much movement up or down over recent periods as evidenced by its one-year low at $2.67 and a high point of $11.87. eHealth’s 50-day simple moving average is currently at $7.74 and a two-hundred day simple moving average at $6.86.
During the last earnings report on February 28th, eHealth exceeded the consensus estimate with an EPS (earnings per share) of $1.01, beating expectations by $0.74 as well as reporting revenue of $196.32 million compared to analysts’ projections of $174,91 million. Analysts forecast that eHealth will post -1.36 earnings per share for the current fiscal year.
Overall, while there have been many changes in ownership and insider acquisitions made recently, eHealth remains a promising company with room for growth in the future despite its relative stagnation over recent periods.
