Signify Health Sees Unusually High Options Volume (NYSE:SGFY)

Signify Health, Inc. (NYSE:SGFY) was the target of unusually large options trading activity on Thursday. Traders acquired 1,889 put options on the company. This is an increase of 1,259% compared to the typical daily volume of 139 put options.

SGFY stock traded down $1.39 during mid-day trading on Thursday, reaching $20.05. 5,287,381 shares of the stock traded hands, compared to its average volume of 778,721. The company has a quick ratio of 5.90, a current ratio of 5.90 and a debt-to-equity ratio of 0.24. Signify Health has a 52 week low of $19.71 and a 52 week high of $40.79. The business has a 50-day moving average of $25.69 and a two-hundred day moving average of $27.06.

Signify Health (NYSE:SGFY) last released its quarterly earnings results on Tuesday, August 10th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.02. As a group, equities research analysts anticipate that Signify Health will post 0.26 EPS for the current year.

A number of research firms have recently weighed in on SGFY. Cowen began coverage on shares of Signify Health in a research note on Thursday, September 9th. They issued a “market perform” rating and a $27.00 price target on the stock. Robert W. Baird downgraded shares of Signify Health from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $30.00 to $24.00 in a research note on Thursday. Barclays raised shares of Signify Health from an “equal weight” rating to an “overweight” rating and set a $30.00 price target on the stock in a research note on Thursday, August 12th. Finally, JPMorgan Chase & Co. began coverage on shares of Signify Health in a research report on Monday, July 12th. They set an “overweight” rating and a $36.00 target price on the stock. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $33.00.

A number of hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its stake in shares of Signify Health by 35.6% in the second quarter. Wells Fargo & Company MN now owns 3,204 shares of the company’s stock valued at $98,000 after buying an additional 841 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of Signify Health by 9.7% in the second quarter. Public Employees Retirement System of Ohio now owns 13,050 shares of the company’s stock valued at $397,000 after buying an additional 1,151 shares during the period. Citigroup Inc. lifted its stake in shares of Signify Health by 66.6% in the second quarter. Citigroup Inc. now owns 3,347 shares of the company’s stock valued at $102,000 after buying an additional 1,338 shares during the period. Deutsche Bank AG lifted its stake in shares of Signify Health by 817.0% in the second quarter. Deutsche Bank AG now owns 2,375 shares of the company’s stock valued at $72,000 after buying an additional 2,116 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Signify Health by 1.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 164,836 shares of the company’s stock valued at $5,016,000 after buying an additional 2,697 shares during the period.

About Signify Health

Signify Health, Inc operates a healthcare platform that utilizes analytics, technology, and healthcare provider networks in the United States. The company operates in two segments, Home & Community Services and Episodes of Care Services. The Home & Community Services segment offers health evaluations performed within the patient's home or at a healthcare provider facility primarily to Medicare Advantage health plans; diagnostic screening and other ancillary services; and services to address healthcare concerns related to social determinants of health.

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