Universal American Corp. (UAM) Shares Down 3.2%
Shares of Universal American Corp. (NYSE:UAM) were down 3.2% during mid-day trading on Friday . The stock traded as low as $6.72 and last traded at $6.73, with a volume of 172,053 shares trading hands. The stock had previously closed at $6.95.
Several analysts recently issued reports on UAM shares. Wedbush reissued a “neutral” rating and issued a $8.00 price target on shares of Universal American Corp. in a research report on Monday, June 20th. Zacks Investment Research downgraded shares of Universal American Corp. from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 4th. Finally, Leerink Swann reaffirmed a “hold” rating and set a $8.00 price objective on shares of Universal American Corp. in a report on Thursday, June 16th.
The stock has a 50-day moving average price of $7.47 and a 200-day moving average price of $7.40. The stock’s market cap is $444.98 million.
Universal American Corp. (NYSE:UAM) last announced its earnings results on Thursday, August 4th. The company reported $0.06 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.06. The company earned $346 million during the quarter, compared to analysts’ expectations of $404.48 million. During the same quarter last year, the firm posted $0.02 EPS. Universal American Corp.’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, analysts anticipate that Universal American Corp. will post $0.20 earnings per share for the current fiscal year.
In related news, Director Thomas Scully sold 6,999,200 shares of the business’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $6.80, for a total transaction of $47,594,560.00. Following the completion of the transaction, the director now owns 100,000 shares in the company, valued at approximately $680,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
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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