LMR Partners LLP Invests $643,000 in Envestnet, Inc. (NYSE:ENV)

LMR Partners LLP purchased a new position in shares of Envestnet, Inc. (NYSE:ENV - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 10,270 shares of the business services provider's stock, valued at approximately $643,000.

Other hedge funds have also bought and sold shares of the company. Innealta Capital LLC bought a new stake in Envestnet in the 2nd quarter valued at about $46,000. Quest Partners LLC raised its holdings in Envestnet by 6,220.8% during the 2nd quarter. Quest Partners LLC now owns 1,517 shares of the business services provider's stock valued at $95,000 after acquiring an additional 1,493 shares during the period. SG Americas Securities LLC bought a new stake in Envestnet during the 1st quarter valued at $168,000. Federated Hermes Inc. boosted its holdings in shares of Envestnet by 80.0% in the second quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider's stock worth $169,000 after acquiring an additional 1,200 shares during the period. Finally, Summit Securities Group LLC purchased a new position in shares of Envestnet in the second quarter valued at $191,000.

Envestnet Price Performance

ENV remained flat at $63.09 on Wednesday. 1,663,944 shares of the company were exchanged, compared to its average volume of 692,457. The firm has a market capitalization of $3.49 billion, a PE ratio of -13.23 and a beta of 1.25. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.07. Envestnet, Inc. has a 52-week low of $36.43 and a 52-week high of $73.04. The business has a fifty day moving average price of $62.74 and a two-hundred day moving average price of $63.11.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. DA Davidson reaffirmed a "neutral" rating and set a $63.00 price objective on shares of Envestnet in a report on Wednesday, September 18th. StockNews.com started coverage on Envestnet in a research note on Wednesday. They issued a "sell" rating for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $61.88.

Envestnet Profile

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.