Cotiviti Holdings Inc (COTV) Sees Large Drop in Short Interest
Cotiviti Holdings Inc (NASDAQ:COTV) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 664,560 shares, a drop of 34.2% from the October 13th total of 1,009,781 shares. Approximately 1.7% of the shares of the stock are short sold. Based on an average trading volume of 231,160 shares, the days-to-cover ratio is currently 2.9 days.
Several brokerages have commented on COTV. Mitsubishi UFJ Financial Group began coverage on Cotiviti Holdings in a report on Thursday, September 21st. They set an “overweight” rating and a $42.00 target price on the stock. Robert W. Baird reaffirmed a “buy” rating and set a $44.00 target price on shares of Cotiviti Holdings in a report on Friday, November 3rd. BidaskClub raised Cotiviti Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $45.00 target price on shares of Cotiviti Holdings in a report on Friday. Finally, Jefferies Group LLC cut their target price on Cotiviti Holdings from $41.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $41.29.
In other Cotiviti Holdings news, COO David Beaulieu sold 5,000 shares of Cotiviti Holdings stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $35.00, for a total transaction of $175,000.00. Following the transaction, the chief operating officer now directly owns 43,133 shares of the company’s stock, valued at approximately $1,509,655. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO J Douglas Williams sold 16,728 shares of Cotiviti Holdings stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $34.95, for a total value of $584,643.60. Following the transaction, the chief executive officer now directly owns 2,830,844 shares in the company, valued at $98,937,997.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,095 shares of company stock worth $4,580,825.
Several hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its position in shares of Cotiviti Holdings by 117.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 24,646 shares of the business services provider’s stock worth $886,000 after acquiring an additional 13,322 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Cotiviti Holdings by 24.7% in the 3rd quarter. California State Teachers Retirement System now owns 58,770 shares of the business services provider’s stock worth $2,115,000 after acquiring an additional 11,645 shares in the last quarter. OxFORD Asset Management LLP raised its position in shares of Cotiviti Holdings by 102.0% in the 3rd quarter. OxFORD Asset Management LLP now owns 24,368 shares of the business services provider’s stock worth $878,000 after acquiring an additional 12,304 shares in the last quarter. Strategic Global Advisors LLC bought a new position in shares of Cotiviti Holdings in the 3rd quarter worth about $200,000. Finally, Dimensional Fund Advisors LP bought a new stake in Cotiviti Holdings in the 3rd quarter valued at about $10,879,000.
Cotiviti Holdings (NASDAQ COTV) opened at $31.72 on Tuesday. Cotiviti Holdings has a 12-month low of $29.19 and a 12-month high of $45.97.
Cotiviti Holdings (NASDAQ:COTV) last posted its quarterly earnings data on Tuesday, October 31st. The business services provider reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Cotiviti Holdings had a return on equity of 7.68% and a net margin of 11.18%. The firm had revenue of $174.20 million during the quarter, compared to analyst estimates of $174.01 million. During the same period last year, the company posted $0.36 EPS. The business’s quarterly revenue was up 11.5% on a year-over-year basis.
About Cotiviti Holdings
Cotiviti Holdings, Inc is a provider of analytics-driven payment accuracy solutions. The Company focuses primarily on the healthcare sector. The Company operates through two segments: Healthcare, and Global Retail and Other. Through its Healthcare segment, the Company offers prospective and retrospective claims accuracy solutions to healthcare payers in the United States.
Receive News & Ratings for Cotiviti Holdings Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cotiviti Holdings Inc and related companies with MarketBeat.com's FREE daily email newsletter.