Investors Buy High Volume of Change Healthcare Put Options (NASDAQ:CHNG)

Change Healthcare Inc. (NASDAQ:CHNG) saw some unusual options trading activity on Thursday. Investors purchased 13,193 put options on the stock. This represents an increase of approximately 2,437% compared to the typical daily volume of 520 put options.

Change Healthcare stock opened at $16.63 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.95 and a quick ratio of 0.95. Change Healthcare has a 1-year low of $11.24 and a 1-year high of $17.57. The company’s 50-day moving average is $15.96 and its 200 day moving average is $13.97.

Change Healthcare (NASDAQ:CHNG) last issued its earnings results on Thursday, November 14th. The company reported $0.27 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.27. The company had revenue of $795.81 million for the quarter, compared to analysts’ expectations of $776.18 million. The firm’s revenue was down .5% compared to the same quarter last year. On average, equities research analysts anticipate that Change Healthcare will post 1.42 EPS for the current year.

CHNG has been the topic of several research analyst reports. ValuEngine cut shares of Change Healthcare from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. BidaskClub cut shares of Change Healthcare from a “buy” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research upgraded shares of Change Healthcare from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 22nd. Royal Bank of Canada assumed coverage on shares of Change Healthcare in a report on Wednesday, November 27th. They issued an “outperform” rating and a $16.00 price objective on the stock. Finally, Raymond James initiated coverage on shares of Change Healthcare in a report on Thursday, December 19th. They issued an “outperform” rating and a $18.00 price objective on the stock. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Change Healthcare currently has a consensus rating of “Buy” and an average target price of $18.64.

Several institutional investors have recently modified their holdings of CHNG. BlackRock Inc. purchased a new stake in shares of Change Healthcare during the second quarter worth about $3,579,000. Vanguard Group Inc. bought a new position in Change Healthcare in the second quarter valued at about $7,507,000. Morgan Stanley bought a new position in Change Healthcare in the second quarter valued at about $1,569,000. Three Peaks Capital Management LLC boosted its holdings in Change Healthcare by 29.5% in the third quarter. Three Peaks Capital Management LLC now owns 291,271 shares of the company’s stock valued at $3,519,000 after acquiring an additional 66,271 shares during the last quarter. Finally, Rhumbline Advisers bought a new position in Change Healthcare in the third quarter valued at about $324,000. 93.06% of the stock is owned by hedge funds and other institutional investors.

About Change Healthcare

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.

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