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Shares of Universal American Corp. (NYSE:UAM) rose 1.1% during mid-day trading on Thursday after an insider bought additional shares in the company, reports. The stock traded as high as $7.15 and last traded at $7.14, with a volume of 185,395 shares. The stock had previously closed at $7.06.

Specifically, CEO Richard A. Barasch acquired 330,000 shares of the stock on the open market in a transaction dated Tuesday, May 13th. The shares were purchased at an average price of $6.03 per share, with a total value of $1,989,900.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Separately, analysts at Zacks upgraded shares of Universal American Corp. from an “underperform” rating to a “neutral” rating in a research note on Wednesday, April 2nd. They now have a $7.30 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Universal American Corp. currently has an average rating of “Hold” and an average price target of $9.20.

The stock has a 50-day moving average of $7.18 and a 200-day moving average of $7.21. The company’s market cap is $624.8 million.

Universal American Corp. (NYSE:UAM) last announced its earnings results on Monday, May 5th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.01. The company had revenue of $512.70 million for the quarter, compared to the consensus estimate of $514.43 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, analysts predict that Universal American Corp. will post $0.20 earnings per share for the current fiscal year.

Universal American Corp., through its health insurance and managed care subsidiaries, primarily serves the growing Medicare population by providing Medicare Advantage products.

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