Sei Investments Co. Reduces Stake in Molina Healthcare Inc (NYSE:MOH)
Sei Investments Co. decreased its position in Molina Healthcare Inc (NYSE:MOH) by 4.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,064 shares of the company’s stock after selling 7,127 shares during the period. Sei Investments Co.’s holdings in Molina Healthcare were worth $9,482,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meadow Creek Investment Management LLC increased its position in Molina Healthcare by 13.2% in the first quarter. Meadow Creek Investment Management LLC now owns 2,408 shares of the company’s stock worth $110,000 after buying an additional 280 shares during the period. LS Investment Advisors LLC increased its position in Molina Healthcare by 40.9% in the second quarter. LS Investment Advisors LLC now owns 1,829 shares of the company’s stock worth $127,000 after buying an additional 531 shares during the period. Glen Harbor Capital Management LLC increased its position in Molina Healthcare by 13.2% in the first quarter. Glen Harbor Capital Management LLC now owns 2,924 shares of the company’s stock worth $133,000 after buying an additional 340 shares during the period. Meeder Asset Management Inc. purchased a new position in Molina Healthcare during the second quarter worth $136,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in Molina Healthcare by 361.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,771 shares of the company’s stock worth $172,000 after buying an additional 2,954 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.
Molina Healthcare Inc (MOH) opened at 58.05 on Friday. Molina Healthcare Inc has a 12-month low of $42.56 and a 12-month high of $72.79. The stock has a 50 day moving average price of $67.67 and a 200 day moving average price of $58.93. The company’s market capitalization is $3.32 billion.
Molina Healthcare (NYSE:MOH) last released its earnings results on Wednesday, August 2nd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by $0.87. Molina Healthcare had a negative net margin of 1.07% and a positive return on equity of 16.10%. The business had revenue of $5 billion for the quarter, compared to analysts’ expectations of $4.88 billion. During the same quarter in the previous year, the business posted $0.67 earnings per share. Molina Healthcare’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, analysts expect that Molina Healthcare Inc will post ($2.96) EPS for the current year.
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A number of research firms recently weighed in on MOH. Zacks Investment Research raised Molina Healthcare from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Thursday, May 4th. BidaskClub downgraded Molina Healthcare from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. ValuEngine raised Molina Healthcare from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. TheStreet downgraded Molina Healthcare from a “b” rating to a “c” rating in a research note on Monday, August 7th. Finally, Credit Suisse Group reissued an “underperform” rating and issued a $53.00 price objective (up from $50.00) on shares of Molina Healthcare in a research note on Friday, July 14th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $62.18.
In related news, Director John C. Molina sold 21,277 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $70.53, for a total value of $1,500,666.81. Following the completion of the transaction, the director now directly owns 611,154 shares in the company, valued at approximately $43,104,691.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director J Mario Md Molina sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $66.09, for a total transaction of $991,350.00. The disclosure for this sale can be found here. Insiders have sold 215,813 shares of company stock valued at $14,238,933 over the last quarter. Company insiders own 6.20% of the company’s stock.
About Molina Healthcare
Molina Healthcare, Inc offers Medicaid-related solutions for low-income families and individuals, and assists government agencies in their administration of the Medicaid program. The Company operates through three segments: Health Plans, Molina Medicaid Solutions and Other, which includes its Pathways Health and Community Support LLC (Pathways) business.
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