Yorktown Management & Research Co Inc Holds Position in Centene Corporation (CNC)
Yorktown Management & Research Co Inc continued to hold its position in Centene Corporation (NYSE:CNC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,000 shares of the company’s stock at the close of the second quarter. Yorktown Management & Research Co Inc’s holdings in Centene Corporation were worth $399,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the business. Bronfman E.L. Rothschild L.P. grew its stake in shares of Centene Corporation by 5.9% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,662 shares of the company’s stock worth $118,000 after buying an additional 93 shares during the last quarter. Seven Bridges Advisors LLC purchased a new stake in shares of Centene Corporation in the 2nd quarter worth approximately $123,000. IFP Advisors Inc grew its stake in shares of Centene Corporation by 9.6% in the 2nd quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock worth $155,000 after buying an additional 170 shares during the last quarter. MV Capital Management Inc. purchased a new stake in shares of Centene Corporation in the 2nd quarter worth approximately $186,000. Finally, Holderness Investments Co. purchased a new stake in shares of Centene Corporation in the 1st quarter worth approximately $211,000. Hedge funds and other institutional investors own 92.26% of the company’s stock.
Centene Corporation (CNC) traded up 1.29% during trading on Friday, hitting $97.16. The stock had a trading volume of 540,885 shares. The firm has a 50 day moving average of $85.55 and a 200-day moving average of $77.84. Centene Corporation has a 12 month low of $50.00 and a 12 month high of $98.72. The stock has a market cap of $16.76 billion, a price-to-earnings ratio of 21.32 and a beta of 0.63.
Centene Corporation (NYSE:CNC) last issued its quarterly earnings data on Tuesday, July 25th. The company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.29. The business had revenue of $11.95 billion during the quarter, compared to the consensus estimate of $11.69 billion. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 earnings per share. Equities analysts predict that Centene Corporation will post $4.92 earnings per share for the current year.
Several research firms recently weighed in on CNC. Cowen and Company restated an “outperform” rating and issued a $105.00 price target (up previously from $77.00) on shares of Centene Corporation in a research note on Wednesday. Deutsche Bank AG restated a “buy” rating and issued a $111.00 price target (up previously from $95.00) on shares of Centene Corporation in a research note on Thursday. Zacks Investment Research upgraded Centene Corporation from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a research note on Friday. Morgan Stanley began coverage on Centene Corporation in a research note on Tuesday, June 6th. They issued an “overweight” rating and a $86.00 price target on the stock. Finally, Citigroup Inc. upped their price target on Centene Corporation from $80.00 to $89.00 and gave the stock a “sell” rating in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $92.24.
In other Centene Corporation news, Chairman Michael F. Neidorff sold 35,000 shares of the company’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $80.26, for a total value of $2,809,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert K. Ditmore sold 4,167 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $82.59, for a total transaction of $344,152.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,167 shares of company stock valued at $3,470,973. Insiders own 3.00% of the company’s stock.
Centene Corporation Profile
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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