Universal American Corp. (UAM) Sees Strong Trading Volume
Shares of Universal American Corp. (NYSE:UAM) saw unusually-strong trading volume on Thursday . Approximately 740,643 shares were traded during trading, an increase of 352% from the previous session’s volume of 164,029 shares.The stock last traded at $6.95 and had previously closed at $7.06.
A number of equities research analysts recently commented on UAM shares. Zacks Investment Research lowered Universal American Corp. from a “strong-buy” rating to a “sell” rating in a research report on Wednesday, July 20th. Leerink Swann restated a “hold” rating and set a $8.00 price target on shares of Universal American Corp. in a research report on Thursday, June 16th. Finally, Wedbush reiterated a “neutral” rating and issued a $9.00 price objective on shares of Universal American Corp. in a research report on Thursday, August 4th.
The stock’s market cap is $452.13 million. The company’s 50-day moving average price is $7.48 and its 200 day moving average price is $7.39.
Universal American Corp. (NYSE:UAM) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. During the same quarter in the prior year, the firm earned $0.02 EPS. The firm had revenue of $346 million for the quarter, compared to the consensus estimate of $404.48 million. The company’s revenue was up 7.2% on a year-over-year basis. Equities research analysts predict that Universal American Corp. will post $0.20 earnings per share for the current fiscal year.
In other news, Director Thomas Scully sold 6,999,200 shares of Universal American Corp. stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $6.80, for a total value of $47,594,560.00. Following the completion of the sale, the director now directly owns 100,000 shares in the company, valued at $680,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A hedge fund recently raised its stake in Universal American Corp. stock. Schwab Charles Investment Management Inc. raised its position in shares of Universal American Corp. (NYSE:UAM) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 194,376 shares of the company’s stock after buying an additional 5,806 shares during the period. Schwab Charles Investment Management Inc. owned about 0.24% of Universal American Corp. worth $1,361,000 at the end of the most recent reporting period.
Universal American Corp. provides an array of health insurance and managed care products and services to people covered by Medicare and Medicaid. The Company’s segments include Medicare Advantage, Management Services Organization (MSO) and Medicaid. Its Medicare Advantage segment contains the operations of its initiatives in managed care for seniors.
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