Short Interest in Definitive Healthcare Corp. (NASDAQ:DH) Drops By 9.2%

Definitive Healthcare Corp. (NASDAQ:DH) was the target of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 2,460,000 shares, a decline of 9.2% from the November 15th total of 2,710,000 shares. Based on an average daily trading volume, of 425,400 shares, the days-to-cover ratio is presently 5.8 days. Approximately 5.3% of the company’s stock are sold short.

Insider Transactions at Definitive Healthcare

In related news, insider William Moschella sold 45,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $4.70, for a total value of $211,500.00. Following the completion of the sale, the insider now directly owns 433,830 shares of the company’s stock, valued at $2,039,001. This represents a 9.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 14.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its holdings in Definitive Healthcare by 36.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,053,233 shares of the company’s stock worth $27,058,000 after acquiring an additional 1,626,813 shares during the period. 272 Capital LP purchased a new stake in shares of Definitive Healthcare during the 2nd quarter worth $3,480,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Definitive Healthcare during the 3rd quarter worth $512,000. Marshall Wace LLP purchased a new position in shares of Definitive Healthcare in the 2nd quarter valued at about $1,535,000. Finally, Millennium Management LLC acquired a new stake in shares of Definitive Healthcare in the second quarter valued at about $9,283,000. 98.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Definitive Healthcare in a report on Friday, November 8th. BTIG Research began coverage on shares of Definitive Healthcare in a research note on Tuesday, September 17th. They set a “buy” rating and a $7.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $5.81.

Definitive Healthcare Stock Performance

NASDAQ:DH traded down $0.01 during midday trading on Friday, reaching $4.49. The stock had a trading volume of 210,901 shares, compared to its average volume of 721,441. The stock has a market cap of $518.70 million, a P/E ratio of -1.45, a P/E/G ratio of 3.29 and a beta of 1.40. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.33. Definitive Healthcare has a 12-month low of $3.19 and a 12-month high of $10.62. The firm has a fifty day simple moving average of $4.41 and a two-hundred day simple moving average of $4.72.

About Definitive Healthcare

Definitive Healthcare Corp., together with its subsidiaries, provides software as a service (SaaS) healthcare commercial intelligence platform in the United States and internationally. Its SaaS platform provides information on healthcare providers and their activities to help its customers from product development to go-to-market planning, and sales and marketing execution.