GMT Capital Corp Sells 3,200 Shares of Centene Corporation (CNC)

GMT Capital Corp decreased its position in shares of Centene Corporation (NYSE:CNC) by 0.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 726,300 shares of the company’s stock after selling 3,200 shares during the period. GMT Capital Corp’s holdings in Centene Corporation were worth $51,756,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CNC. Norges Bank purchased a new position in shares of Centene Corporation during the fourth quarter worth approximately $93,255,000. OppenheimerFunds Inc. raised its position in shares of Centene Corporation by 271.2% in the first quarter. OppenheimerFunds Inc. now owns 1,799,160 shares of the company’s stock worth $128,208,000 after buying an additional 1,314,514 shares during the last quarter. Pioneer Investment Management Inc. raised its position in shares of Centene Corporation by 1,534.7% in the first quarter. Pioneer Investment Management Inc. now owns 1,369,670 shares of the company’s stock worth $97,603,000 after buying an additional 1,285,885 shares during the last quarter. Viking Global Investors LP raised its position in shares of Centene Corporation by 102.5% in the fourth quarter. Viking Global Investors LP now owns 1,653,652 shares of the company’s stock worth $93,448,000 after buying an additional 836,980 shares during the last quarter. Finally, Appaloosa LP purchased a new position in shares of Centene Corporation during the fourth quarter worth approximately $44,360,000. 93.78% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Centene Corporation (NYSE:CNC)

Shares of Centene Corporation (NYSE CNC) traded down 0.06% during midday trading on Tuesday, hitting $78.58. The company had a trading volume of 787,972 shares. Centene Corporation has a 12 month low of $50.00 and a 12 month high of $79.50. The company has a 50-day moving average of $76.11 and a 200-day moving average of $68.51. The company has a market capitalization of $13.54 billion, a PE ratio of 19.35 and a beta of 0.55.

Centene Corporation (NYSE:CNC) last released its quarterly earnings results on Tuesday, April 25th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. Centene Corporation had a return on equity of 14.19% and a net margin of 1.57%. The company had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $11.44 billion. During the same period in the prior year, the firm earned $0.74 earnings per share. The firm’s revenue was up 68.6% compared to the same quarter last year. Analysts predict that Centene Corporation will post $4.77 earnings per share for the current year.

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CNC has been the subject of a number of research reports. Citigroup Inc. lowered Centene Corporation from a “buy” rating to a “neutral” rating and set a $73.00 price target for the company. in a research note on Thursday, March 23rd. Deutsche Bank AG initiated coverage on Centene Corporation in a research note on Wednesday, April 5th. They set a “buy” rating and a $84.00 price target for the company. Zacks Investment Research lowered Centene Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Evercore ISI increased their price target on Centene Corporation from $80.00 to $83.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $79.00 price target on shares of Centene Corporation in a research note on Wednesday, April 19th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $80.89.

In other Centene Corporation news, Director Richard A. Gephardt sold 4,350 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $77.38, for a total transaction of $336,603.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Mark J. Brooks sold 2,161 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $75.43, for a total value of $163,004.23. The disclosure for this sale can be found here. Insiders have sold 28,728 shares of company stock worth $2,117,100 over the last 90 days. 3.00% of the stock is owned by insiders.

About Centene Corporation

Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “CNC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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