Pennant Capital Management Lowers stake in WellCare Health Plans (WCG)

WellCare Health Plans (WCG) : Pennant Capital Management reduced its stake in WellCare Health Plans by 4.5% during the most recent quarter end. The investment management company now holds a total of 887,445 shares of WellCare Health Plans which is valued at $102,863,750 after selling 41,850 shares in WellCare Health Plans , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.WellCare Health Plans makes up approximately 3.00% of Pennant Capital Management’s portfolio.

Other Hedge Funds, Including , Hbk Investments L P boosted its stake in WCG in the latest quarter, The investment management firm added 25,221 additional shares and now holds a total of 31,421 shares of WellCare Health Plans which is valued at $3,642,008. WellCare Health Plans makes up approx 0.07% of Hbk Investments L P’s portfolio.Thomas White International Ltd reduced its stake in WCG by selling 135 shares or 62.79% in the most recent quarter. The Hedge Fund company now holds 80 shares of WCG which is valued at $9,273.Advisors Asset Management boosted its stake in WCG in the latest quarter, The investment management firm added 329 additional shares and now holds a total of 1,529 shares of WellCare Health Plans which is valued at $179,291. Hood River Capital Management added WCG to its portfolio by purchasing 102,866 company shares during the most recent quarter which is valued at $10,986,089. WellCare Health Plans makes up approx 1.33% of Hood River Capital Management’s portfolio.Msi Financial Services Inc boosted its stake in WCG in the latest quarter, The investment management firm added 14 additional shares and now holds a total of 814 shares of WellCare Health Plans which is valued at $86,488.

WellCare Health Plans (WCG) witnessed a volatile trading activity on Thursday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $112.93 and reached the intraday high at $113.31. The bulls started the profit booking and pushed the shares to intraday low of $111.5. The trading session was marked by a volume range of 2,47,541 shares exchanging hands. The 52-week high of the shares is $117.51 and the 52-week low is $69.16. The market cap of the company stands at $4,989 M and there are 4,42,68,205 shares in public circulation.

On the company’s financial health, WellCare Health Plans reported $2.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.83 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $1.40. The company had revenue of $3594.40 million for the quarter, compared to analysts expectations of $3513.06 million. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 EPS.

WellCare Health Plans Inc. (WellCare) is a managed care company for government-sponsored health care coverage with a focus on Medicaid and Medicare programs. The Company offers a range of managed care health plans for families children and the aged blind and disabled as well as prescription drug plans. The Company operates in three segments: Medicaid Health Plans Medicare Health Plans and Medicare Prescription Drug Plans (PDPs). It operates Medicaid health plans in Florida Georgia Hawaii Illinois Kentucky Missouri New Jersey New York and South Carolina. In addition it offers Medicare Advantage (MA) coordinated care plans (CCPs) in certain counties in Arizona Arkansas California Connecticut Florida Georgia Hawaii Illinois Kentucky Louisiana Mississippi Missouri New Jersey New York Ohio South Carolina Tennessee and Texas. It also offers stand-alone Medicare PDPs in 49 states and the District of Columbia.

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