Fintel reports that Starboard Value LP has filed a 13D/A form with the SEC disclosing ownership of 808,866 shares of eHealth, Inc. (EHTH). This represents 2.9% of the company.

In their previous filing dated January 7, 2022 they reported 2,243,117 shares and 8.50% of the company, a decrease in shares of 63.94% and a decrease in total ownership of 5.60% (calculated as current – previous percent ownership).

eHealth, Inc. operates a leading health insurance marketplace at eHealth.com and eHealthMedicare.com with technology that provides consumers with health insurance enrollment solutions. Since 1997, eHealth has connected more than 8 million members with quality, affordable health insurance, Medicare options, and ancillary plans. Its proprietary marketplace offers Medicare Advantage, Medicare Supplement, Medicare Part D prescription drug, individual, family, small business and other plans from over 180 health insurance carriers across fifty states and the District of Columbia.

What are other large shareholders doing?

Palo Alto Investors LP holds 1,977,993 shares representing 7.21% ownership of the company. In it’s prior filing, the firm reported owning 1,654,693 shares, representing an increase of 16.34%. The firm decreased its portfolio allocation in EHTH by 54.55% over the last quarter.

Millennium Management Llc holds 1,152,160 shares representing 4.20% ownership of the company. In it’s prior filing, the firm reported owning 0 shares, representing an increase of 100.00%.

Segall Bryant & Hamill, Llc holds 866,905 shares representing 3.16% ownership of the company. In it’s prior filing, the firm reported owning 1,128,159 shares, representing a decrease of 30.14%. The firm decreased its portfolio allocation in EHTH by 65.94% over the last quarter.

Neuberger Berman Group LLC holds 676,706 shares representing 2.47% ownership of the company. In it’s prior filing, the firm reported owning 664,377 shares, representing an increase of 1.82%. The firm decreased its portfolio allocation in EHTH by 77.38% over the last quarter.

What is the overall institutional sentiment?

There are 350 funds or institutions reporting positions in eHealth, Inc.. This is a decrease of 37 owner(s) or 9.56%.

Average portfolio weight of all funds dedicated to eHealth, Inc. is 0.0376%, a decrease of 33.6431%. Total shares owned by institutions decreased in the last three months by 4.85% to 24,723,650 shares.

Based on this information, institutional sentiment is bearish.

This article originally appeared on Fintel

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