Trexquant Investment LP acquired a new stake in shares of Magellan Health Inc (NASDAQ:MGLN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 6,314 shares of the company’s stock, valued at approximately $455,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smith Graham & Co. Investment Advisors LP boosted its holdings in shares of Magellan Health by 23.3% during the 3rd quarter. Smith Graham & Co. Investment Advisors LP now owns 165,732 shares of the company’s stock valued at $11,941,000 after purchasing an additional 31,272 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Magellan Health by 1.2% during the third quarter. Victory Capital Management Inc. now owns 566,012 shares of the company’s stock worth $40,781,000 after purchasing an additional 6,644 shares during the last quarter. Strs Ohio raised its holdings in shares of Magellan Health by 9.4% during the third quarter. Strs Ohio now owns 15,200 shares of the company’s stock worth $1,095,000 after purchasing an additional 1,300 shares during the last quarter. Systematic Financial Management LP raised its holdings in shares of Magellan Health by 19.3% during the second quarter. Systematic Financial Management LP now owns 15,895 shares of the company’s stock worth $1,525,000 after purchasing an additional 2,575 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Magellan Health by 490.0% during the third quarter. SG Americas Securities LLC now owns 83,837 shares of the company’s stock worth $6,040,000 after purchasing an additional 69,627 shares during the last quarter. 98.77% of the stock is owned by institutional investors and hedge funds.

MGLN opened at $55.15 on Thursday. Magellan Health Inc has a fifty-two week low of $52.32 and a fifty-two week high of $112.25. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.72 and a quick ratio of 1.67. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 1.53 and a beta of 0.47.

Magellan Health (NASDAQ:MGLN) last released its quarterly earnings data on Wednesday, November 7th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.28. Magellan Health had a net margin of 1.49% and a return on equity of 10.93%. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the previous year, the company earned $1.64 earnings per share. The firm’s revenue for the quarter was up 30.6% on a year-over-year basis. As a group, equities analysts anticipate that Magellan Health Inc will post 3.61 EPS for the current year.

Several brokerages recently issued reports on MGLN. TheStreet cut shares of Magellan Health from a “b-” rating to a “c+” rating in a report on Friday, November 9th. BidaskClub cut shares of Magellan Health from a “strong-buy” rating to a “buy” rating in a report on Friday, August 31st. Zacks Investment Research cut shares of Magellan Health from a “hold” rating to a “sell” rating in a report on Saturday, October 13th. Leerink Swann cut shares of Magellan Health from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $90.00 to $70.00 in a report on Tuesday, November 13th. Finally, ValuEngine cut shares of Magellan Health from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Magellan Health presently has an average rating of “Hold” and a consensus target price of $83.33.

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About Magellan Health

Magellan Health, Inc provides healthcare management services in the United States. It operates in Healthcare and Pharmacy Management segments. The Healthcare segment offers carve-out management services for behavioral health; employee assistance plans (EAP); and other areas of specialty healthcare, including diagnostic imaging, musculoskeletal management, cardiac, and physical medicine for health plans, care organizations, and employers.

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Institutional Ownership by Quarter for Magellan Health (NASDAQ:MGLN)

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