Summit Street Capital Management Lowers stake in WellCare Health Plans (WCG)

WellCare Health Plans (WCG) : Summit Street Capital Management reduced its stake in WellCare Health Plans by 18.79% during the most recent quarter end. The investment management company now holds a total of 25,410 shares of WellCare Health Plans which is valued at $2,945,273 after selling 5,878 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 3.08% of Summit Street Capital Management’s portfolio.

Other Hedge Funds, Including , Par Capital Management Inc boosted its stake in WCG in the latest quarter, The investment management firm added 473,701 additional shares and now holds a total of 973,701 shares of WellCare Health Plans which is valued at $112,861,683. WellCare Health Plans makes up approx 1.82% of Par Capital Management Inc’s portfolio. Laurion Capital Management Lp added WCG to its portfolio by purchasing 92,500 company shares during the most recent quarter which is valued at $10,721,675. WellCare Health Plans makes up approx 0.63% of Laurion Capital Management Lp’s portfolio.Keybank National Associationoh reduced its stake in WCG by selling 2,012 shares or 18.96% in the most recent quarter. The Hedge Fund company now holds 8,600 shares of WCG which is valued at $996,826. WellCare Health Plans makes up approx 0.01% of Keybank National Associationoh’s portfolio. Eaton Vance Management added WCG to its portfolio by purchasing 369,000 company shares during the most recent quarter which is valued at $43,268,940. WellCare Health Plans makes up approx 0.12% of Eaton Vance Management’s portfolio. Investment Counselors Of Maryland sold out all of its stake in WCG during the most recent quarter. The investment firm sold 174,984 shares of WCG which is valued $20,518,624.

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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