Southpoint Capital Advisors LP purchased a new position in Molina Healthcare, Inc. (NYSE:MOH) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 790,000 shares of the company’s stock, valued at approximately $60,577,000. Molina Healthcare makes up 2.9% of Southpoint Capital Advisors LP’s investment portfolio, making the stock its 14th largest holding. Southpoint Capital Advisors LP owned approximately 1.32% of Molina Healthcare at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its stake in Molina Healthcare by 53.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,156,150 shares of the company’s stock valued at $165,334,000 after acquiring an additional 751,800 shares during the period. Jana Partners LLC lifted its stake in Molina Healthcare by 52.5% during the 3rd quarter. Jana Partners LLC now owns 2,125,351 shares of the company’s stock valued at $146,139,000 after acquiring an additional 731,992 shares during the period. Iridian Asset Management LLC CT bought a new position in Molina Healthcare during the 4th quarter valued at about $128,179,000. Victory Capital Management Inc. lifted its stake in Molina Healthcare by 36.0% during the 4th quarter. Victory Capital Management Inc. now owns 1,590,409 shares of the company’s stock valued at $121,953,000 after acquiring an additional 420,756 shares during the period. Finally, Tiedemann Wealth Management LLC lifted its stake in Molina Healthcare by 7.8% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 1,440,066 shares of the company’s stock valued at $135,000 after acquiring an additional 103,775 shares during the period. Institutional investors own 96.22% of the company’s stock.
In other Molina Healthcare news, Director John C. Molina sold 62,420 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $72.13, for a total transaction of $4,502,354.60. Following the completion of the sale, the director now directly owns 393,410 shares of the company’s stock, valued at approximately $28,376,663.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven J. Orlando sold 1,500 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $72.77, for a total transaction of $109,155.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 492,525 shares of company stock valued at $40,080,239. Insiders own 6.20% of the company’s stock.
Several equities analysts have issued reports on MOH shares. Goldman Sachs Group started coverage on shares of Molina Healthcare in a research note on Wednesday, January 3rd. They set a “neutral” rating and a $83.00 target price on the stock. ValuEngine cut shares of Molina Healthcare from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. JPMorgan Chase & Co. lowered their price objective on shares of Molina Healthcare from $103.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday, February 15th. Zacks Investment Research upgraded shares of Molina Healthcare from a “hold” rating to a “strong-buy” rating and set a $88.00 price objective on the stock in a research note on Tuesday, January 2nd. Finally, Leerink Swann increased their price objective on shares of Molina Healthcare from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 9th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $73.73.
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About Molina Healthcare
Molina Healthcare, Inc offers Medicaid-related solutions for low-income families and individuals, and assists government agencies in their administration of the Medicaid program. The Company operates through three segments: Health Plans, Molina Medicaid Solutions and Other, which includes its Pathways Health and Community Support LLC (Pathways) business.
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