Elevance Health Takes Large Position in GOCO / GoHealth

Investing

Published: November 16, 2022 3:03 am

Last Updated: November 16, 2022 12:24 pm

Fintel reports that Elevance Health (ELV) has filed a 13G form with the SEC disclosing ownership of 32,913,780 shares of GoHealth, Inc. Class A (GOCO). This represents 9.99% of the company.

As a leading health insurance marketplace and Medicare-focused digital health company, GoHealth’s mission is to improve access to healthcare in America. Enrolling in a health insurance plan can be confusing for customers, and the seemingly small differences between plans can lead to significant out-of-pocket costs or lack of access to critical medicines and even providers.

What are other large shareholders doing?

Centerbridge Partners, L.P. holds 40,682,961 shares representing 30.77% ownership of the company. No change in the last quarter.

D. E. Shaw & Co., Inc. holds 3,817,710 shares representing 2.89% ownership of the company. In it’s prior filing, the firm reported owning 3,745,650 shares, representing an increase of 1.89%. The firm decreased its portfolio allocation in GOCO by 54.29% over the last quarter.

Blue Owl Capital Holdings LP holds 1,248,982 shares representing 0.94% ownership of the company. No change in the last quarter.

Glendon Capital Management LP holds 1,079,424 shares representing 0.82% ownership of the company. No change in the last quarter.

Marshall Wace, Llp holds 685,434 shares representing 0.52% ownership of the company. In it’s prior filing, the firm reported owning 1,849,923 shares, representing a decrease of 169.89%. The firm decreased its portfolio allocation in GOCO by 83.59% over the last quarter.

What is the overall institutional sentiment?

There are 138 funds or institutions reporting positions in GoHealth, Inc. Class A. This is a decrease of 83 owner(s) or 37.56%.

Average portfolio weight of all funds dedicated to GoHealth, Inc. Class A is 0.0197%, a decrease of 35.5703%. Total shares owned by institutions decreased in the last three months by 16.79% to 65,883,494 shares.

Based on this information, institutional sentiment is bearish.

This article originally appeared on Fintel

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