Quinn Opportunity Partners LLC Sells 2,500 Shares of Centene Corporation $CNC

Quinn Opportunity Partners LLC trimmed its stake in Centene Corporation (NYSE:CNC) by 2.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,981 shares of the company’s stock after selling 2,500 shares during the period. Quinn Opportunity Partners LLC’s holdings in Centene were worth $4,993,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CNC. Quadcap Wealth Management LLC grew its holdings in shares of Centene by 3.2% during the first quarter. Quadcap Wealth Management LLC now owns 5,617 shares of the company’s stock valued at $341,000 after buying an additional 172 shares during the last quarter. Carnegie Investment Counsel raised its holdings in Centene by 6.0% in the 1st quarter. Carnegie Investment Counsel now owns 3,811 shares of the company’s stock worth $234,000 after purchasing an additional 215 shares during the period. Allworth Financial LP grew its stake in Centene by 6.1% in the 1st quarter. Allworth Financial LP now owns 4,387 shares of the company’s stock valued at $270,000 after acquiring an additional 254 shares during the period. Grove Bank & Trust lifted its stake in Centene by 2.8% in the 2nd quarter. Grove Bank & Trust now owns 11,632 shares of the company’s stock valued at $631,000 after buying an additional 313 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Centene by 5.1% in the second quarter. Farther Finance Advisors LLC now owns 6,658 shares of the company’s stock valued at $361,000 after buying an additional 325 shares during the last quarter. Institutional investors and hedge funds own 93.63% of the company’s stock.

Wall Street Analyst Weigh In

CNC has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Centene in a report on Wednesday, October 8th. Oppenheimer reaffirmed an “outperform” rating and set a $45.00 price target on shares of Centene in a report on Thursday, October 30th. Morgan Stanley raised their price target on Centene from $28.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 14th. Cowen reiterated a “hold” rating on shares of Centene in a research note on Friday, October 31st. Finally, Bank of America lowered shares of Centene from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $52.00 to $30.00 in a research report on Wednesday, July 16th. Three investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Centene has a consensus rating of “Hold” and an average target price of $39.82.

Centene Stock Up 3.4%

Shares of Centene stock opened at $35.40 on Wednesday. Centene Corporation has a fifty-two week low of $25.08 and a fifty-two week high of $66.81. The business has a 50-day moving average price of $34.55 and a 200 day moving average price of $40.25. The company has a quick ratio of 1.10, a current ratio of 1.08 and a debt-to-equity ratio of 0.83. The firm has a market cap of $17.40 billion, a P/E ratio of -3.27, a P/E/G ratio of 1.24 and a beta of 0.49.

Centene (NYSE:CNC) last posted its earnings results on Wednesday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.71. The firm had revenue of $49.69 billion during the quarter, compared to analyst estimates of $47.50 billion. Centene had a negative net margin of 2.85% and a positive return on equity of 7.82%. Centene’s revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.62 EPS. On average, sell-side analysts forecast that Centene Corporation will post 6.86 earnings per share for the current fiscal year.

Centene Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children’s health insurance program, foster care, medicare-medicaid plans, long-term services and support.