Clinton Group Inc. lowered its position in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 36.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,293 shares of the company’s stock after selling 13,953 shares during the quarter. Clinton Group Inc. owned about 0.05% of WellCare Health Plans worth $4,362,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Balyasny Asset Management LLC increased its position in shares of WellCare Health Plans by 310.8% in the second quarter. Balyasny Asset Management LLC now owns 17,290 shares of the company’s stock worth $3,105,000 after purchasing an additional 13,081 shares during the period. Bayesian Capital Management LP bought a new position in shares of WellCare Health Plans in the second quarter worth $307,000. Hillsdale Investment Management Inc. increased its position in shares of WellCare Health Plans by 2,075.0% in the second quarter. Hillsdale Investment Management Inc. now owns 1,740 shares of the company’s stock worth $312,000 after purchasing an additional 1,660 shares during the period. Bank of Hawaii increased its position in shares of WellCare Health Plans by 3.2% in the second quarter. Bank of Hawaii now owns 3,765 shares of the company’s stock worth $676,000 after purchasing an additional 115 shares during the period. Finally, Hood River Capital Management LLC increased its position in shares of WellCare Health Plans by 8.7% in the second quarter. Hood River Capital Management LLC now owns 146,610 shares of the company’s stock worth $26,325,000 after purchasing an additional 11,705 shares during the period. 97.78% of the stock is owned by institutional investors.

WellCare Health Plans, Inc. (NYSE:WCG) traded up 0.49% on Friday, reaching $171.74. The company’s stock had a trading volume of 230,357 shares. The firm has a market cap of $7.64 billion, a PE ratio of 30.17 and a beta of 0.88. The stock’s 50 day moving average price is $173.61 and its 200 day moving average price is $166.40. WellCare Health Plans, Inc. has a 52-week low of $113.34 and a 52-week high of $184.88.

WellCare Health Plans (NYSE:WCG) last released its quarterly earnings results on Friday, August 4th. The company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.29. WellCare Health Plans had a return on equity of 14.91% and a net margin of 1.66%. The firm had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.23 billion. During the same quarter last year, the firm posted $2.23 EPS. The company’s revenue was up 19.8% compared to the same quarter last year. Equities research analysts expect that WellCare Health Plans, Inc. will post $7.00 earnings per share for the current fiscal year.

A number of research analysts recently commented on WCG shares. Jefferies Group LLC restated a “hold” rating and issued a $170.00 price target on shares of WellCare Health Plans in a research report on Thursday, June 8th. Morgan Stanley started coverage on WellCare Health Plans in a research report on Tuesday, June 6th. They issued an “equal weight” rating and a $183.00 price target on the stock. Deutsche Bank AG raised their price target on WellCare Health Plans from $185.00 to $192.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Leerink Swann restated an “outperform” rating and issued a $225.00 price target (up previously from $185.00) on shares of WellCare Health Plans in a research report on Thursday, June 22nd. Finally, Zacks Investment Research upgraded WellCare Health Plans from a “hold” rating to a “buy” rating and set a $193.00 price target on the stock in a research report on Friday, August 11th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $176.23.

COPYRIGHT VIOLATION WARNING: “Clinton Group Inc. Reduces Stake in WellCare Health Plans, Inc. (WCG)” was reported by Watch List News and is the property of of Watch List News. If you are viewing this report on another site, it was illegally stolen and republished in violation of US and international copyright & trademark laws. The legal version of this report can be viewed at https://www.watchlistnews.com/clinton-group-inc-reduces-stake-in-wellcare-health-plans-inc-wcg/1599117.html.

In other WellCare Health Plans news, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $171.97, for a total value of $1,440,076.78. Following the sale, the director now owns 5,722 shares of the company’s stock, valued at approximately $984,012.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kenneth A. Burdick sold 8,500 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 23,627 shares in the company, valued at approximately $4,116,768.48. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

WellCare Health Plans Company 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.

Institutional Ownership by Quarter for WellCare Health Plans (NYSE:WCG)

Receive News & Ratings for WellCare Health Plans Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WellCare Health Plans Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.