Gmt Capital Corp buys $50,368,962 stake in Centene Corp (CNC)

Centene Corp (CNC) : Gmt Capital Corp scooped up 691,300 additional shares in Centene Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 723,900 shares of Centene Corp which is valued at $50,368,962.Centene Corp makes up approximately 1.13% of Gmt Capital Corp’s portfolio.

Other Hedge Funds, Including , Advisors Asset Management reduced its stake in CNC by selling 2,635 shares or 15.68% in the most recent quarter. The Hedge Fund company now holds 14,175 shares of CNC which is valued at $986,297. Centene Corp makes up approx 0.02% of Advisors Asset Management’s portfolio.Cam Group Holding As reduced its stake in CNC by selling 56,100 shares or 16.76% in the most recent quarter. The Hedge Fund company now holds 278,560 shares of CNC which is valued at $19,652,408. Centene Corp makes up approx 0.36% of Cam Group Holding As’s portfolio.Mu Investments Ltd. reduced its stake in CNC by selling 4,150 shares or 60.82% in the most recent quarter. The Hedge Fund company now holds 2,673 shares of CNC which is valued at $180,187. Centene Corp makes up approx 0.12% of Mu Investments Ltd.’s portfolio.Boston Advisors boosted its stake in CNC in the latest quarter, The investment management firm added 150 additional shares and now holds a total of 18,742 shares of Centene Corp which is valued at $1,263,398. Centene Corp makes up approx 0.03% of Boston Advisors’s portfolio.

Centene Corp opened for trading at $70.44 and hit $70.98 on the upside on Monday, eventually ending the session at $70.96, with a gain of 1.03% or 0.72 points. The heightened volatility saw the trading volume jump to 9,76,493 shares. Company has a market cap of $12,115 M.

On the company’s financial health, Centene Corp reported $1.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.20 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $1.09. The company had revenue of $10897.00 million for the quarter, compared to analysts expectations of $10806.33 million. The company’s revenue was up 97.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS.

Many Wall Street Analysts have commented on Centene Corp. Centene Corp was Upgraded by Morgan Stanley to ” Overweight” on Jun 29, 2016. Company shares were Upgraded by Barclays on Jun 20, 2016 to ” Overweight”, Firm has raised the Price Target to $ 82 from a previous price target of $76 .Centene Corp was Initiated by Bernstein to “Mkt Perform” on Jun 16, 2016.

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 Children’s 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 Company’s specialty companies offering auxiliary healthcare services and products.

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