Convey Health Solutions (NYSE:CNVY) Sees Strong Trading Volume

Convey Health Solutions Holdings, Inc. (NYSE:CNVYGet Rating) shares saw unusually-high trading volume on Wednesday . Approximately 28,512 shares were traded during mid-day trading, a decline of 79% from the previous session’s volume of 135,466 shares.The stock last traded at $10.53 and had previously closed at $10.52.

Analyst Upgrades and Downgrades

CNVY has been the subject of several recent research reports. Barclays downgraded shares of Convey Health Solutions from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $12.00 to $11.00 in a research report on Wednesday, June 22nd. Canaccord Genuity Group downgraded shares of Convey Health Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, June 22nd. Finally, Guggenheim downgraded shares of Convey Health Solutions from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 22nd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $11.40.

Convey Health Solutions Price Performance

The company has a 50 day moving average of $10.48 and a 200-day moving average of $7.91. The stock has a market capitalization of $770.00 million, a P/E ratio of -105.20 and a beta of -0.39. The company has a quick ratio of 1.60, a current ratio of 2.20 and a debt-to-equity ratio of 0.50.

Convey Health Solutions (NYSE:CNVYGet Rating) last announced its quarterly earnings data on Friday, August 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.09). Convey Health Solutions had a positive return on equity of 0.08% and a negative net margin of 1.90%. The firm had revenue of $89.78 million for the quarter, compared to the consensus estimate of $87.96 million. Sell-side analysts predict that Convey Health Solutions Holdings, Inc. will post 0.29 EPS for the current year.

Insider Buying and Selling at Convey Health Solutions

In other Convey Health Solutions news, SVP Susana Pichardo sold 71,651 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $10.50, for a total value of $752,335.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Convey Health Solutions

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of Convey Health Solutions during the first quarter valued at about $51,000. Bank of Montreal Can purchased a new position in Convey Health Solutions in the 1st quarter worth about $69,000. CAPROCK Group Inc. purchased a new position in Convey Health Solutions during the 1st quarter valued at about $75,000. Qube Research & Technologies Ltd purchased a new position in Convey Health Solutions during the 1st quarter valued at about $83,000. Finally, Rhumbline Advisers purchased a new position in Convey Health Solutions during the 1st quarter valued at about $83,000. 85.28% of the stock is currently owned by institutional investors.

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.

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