361 Capital LLC Invests $853,000 in WellCare Health Plans, Inc. (WCG) Stock
361 Capital LLC acquired a new position in shares of WellCare Health Plans, Inc. (NYSE:WCG) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 4,966 shares of the company’s stock, valued at approximately $853,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. State of Alaska Department of Revenue bought a new position in WellCare Health Plans during the 2nd quarter worth $121,000. Advisory Services Network LLC grew its stake in WellCare Health Plans by 8.4% during the 2nd quarter. Advisory Services Network LLC now owns 866 shares of the company’s stock worth $155,000 after buying an additional 67 shares during the last quarter. Eagle Global Advisors LLC bought a new position in WellCare Health Plans during the 2nd quarter worth $211,000. Harvest Fund Management Co. Ltd grew its stake in WellCare Health Plans by 29.3% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 1,318 shares of the company’s stock worth $237,000 after buying an additional 299 shares during the last quarter. Finally, Ronald Blue & Co. LLC bought a new position in shares of WellCare Health Plans in the second quarter worth $240,000. Hedge funds and other institutional investors own 97.41% of the company’s stock.
In other news, Director Carol Burt sold 997 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $202.20, for a total value of $201,593.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kenneth A. Burdick sold 8,500 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $174.24, for a total value of $1,481,040.00. Following the completion of the transaction, the chief executive officer now owns 23,627 shares of the company’s stock, valued at $4,116,768.48. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.
WellCare Health Plans, Inc. (WCG) traded down $2.02 on Monday, reaching $198.00. The company had a trading volume of 192,600 shares, compared to its average volume of 365,320. WellCare Health Plans, Inc. has a fifty-two week low of $127.82 and a fifty-two week high of $208.89. The company has a market capitalization of $8,815.27, a price-to-earnings ratio of 21.43, a PEG ratio of 1.53 and a beta of 0.81. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.51.
WellCare Health Plans (NYSE:WCG) last posted its earnings results on Tuesday, October 31st. The company reported $4.08 EPS for the quarter, beating the consensus estimate of $1.90 by $2.18. WellCare Health Plans had a return on equity of 19.42% and a net margin of 2.21%. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter in the prior year, the business earned $1.63 earnings per share. The firm’s revenue for the quarter was up 22.8% on a year-over-year basis. equities research analysts anticipate that WellCare Health Plans, Inc. will post 8.45 earnings per share for the current year.
Several research analysts have recently issued reports on the company. Zacks Investment Research raised WellCare Health Plans from a “hold” rating to a “buy” rating and set a $221.00 price target for the company in a research note on Thursday, November 2nd. Piper Jaffray Companies reissued a “buy” rating and issued a $214.00 price target on shares of WellCare Health Plans in a research note on Wednesday, November 1st. Jefferies Group LLC upped their price objective on WellCare Health Plans from $189.00 to $190.00 and gave the company a “hold” rating in a report on Friday, October 13th. BidaskClub lowered WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Finally, Mitsubishi UFJ Financial Group started coverage on WellCare Health Plans in a report on Thursday, September 21st. They set an “overweight” rating and a $204.00 target price for the company. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. WellCare Health Plans presently has an average rating of “Hold” and an average price target of $197.00.
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WellCare Health Plans Profile
WellCare Health Plans, Inc is a managed care company. The Company focuses on government-sponsored managed care services, primarily through Medicaid, Medicare Advantage (MA) and Medicare Prescription Drug Plans (PDPs), to families, children, seniors and individuals with medical needs. The Company operates through three segments: Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.
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