Short Interest Update on Centene Corporation (CNC)

Centene Corporation (CNC) : Traders are getting increasingly bearish on Centene Corporation (CNC), as can be seen in the addition of short positions from 7,234,413 on Jul 29, 2016, to 7,431,918 on August 15, 2016. The net change in shorts is 197,505 shares, an increase of 2.7%. 5 days remain before the expiry. The 4.5% of outstanding short positions on the stock compared to its float, shows that traders expect the stock to fall from the current levels. The daily volume of the stock is 1,478,872. The short interest information was released on Wednesday Aug 24th after the market close.

Centene Corporation (NYSE:CNC): The stock opened at $69.91 on Wednesday but the bulls could not build on the opening and the stock topped out at $70.43 for the day. The stock traded down to $68.64 during the day, due to lack of any buying support eventually closed down at $68.74 with a loss of -1.70% for the day. The stock had closed at $69.93 on the previous day. The total traded volume was 637,434 shares.


In a related news, The officer (EVP, Markets), of Centene Corp, Baldwin Kenneth Rone had unloaded 6,000 shares at $71 per share in a transaction on July 1, 2016. The total value of transaction was $426,000. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.

Centene Corporation is a healthcare company. The Company provides programs and services to Government sponsored healthcare programs. It offers member-focused services by assisting in accessing care, coordinating referrals to related health and social services, and addressing member concerns and questions. It also provides education and outreach programs to inform and assist members in accessing healthcare services. The Company operates in two segments: Managed Care and Specialty Services. The Managed Care segment provides health plan coverage to individuals through Government subsidized programs, including Medicaid, the State Childrens Health Insurance Program (CHIP), Long Term Care (LTC), Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD). The Specialty Services segment consists of the Companys specialty companies offering auxiliary healthcare services and products.

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