Penn Capital Management Co. Inc. Cuts Position in WellCare Health Plans, Inc. (WCG)

Penn Capital Management Co. Inc. trimmed its position in WellCare Health Plans, Inc. (NYSE:WCG) by 33.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,994 shares of the company’s stock after selling 2,460 shares during the period. Penn Capital Management Co. Inc.’s holdings in WellCare Health Plans were worth $4,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WCG. FMR LLC increased its position in shares of WellCare Health Plans by 118.1% in the 4th quarter. FMR LLC now owns 2,876,051 shares of the company’s stock valued at $679,007,000 after acquiring an additional 1,557,652 shares during the period. Vanguard Group Inc increased its position in shares of WellCare Health Plans by 26.1% in the 3rd quarter. Vanguard Group Inc now owns 5,602,927 shares of the company’s stock valued at $1,795,681,000 after acquiring an additional 1,159,497 shares during the period. Carmignac Gestion acquired a new position in shares of WellCare Health Plans in the 4th quarter valued at $168,192,000. Norges Bank acquired a new position in shares of WellCare Health Plans in the 4th quarter valued at $147,415,000. Finally, Assenagon Asset Management S.A. increased its position in shares of WellCare Health Plans by 7,497.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 154,994 shares of the company’s stock valued at $41,810,000 after acquiring an additional 152,954 shares during the period. 98.49% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently issued reports on WCG. Wells Fargo & Co cut their target price on WellCare Health Plans from $330.00 to $320.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 8th. Zacks Investment Research downgraded WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. Credit Suisse Group began coverage on WellCare Health Plans in a research report on Monday, April 15th. They issued a “neutral” rating and a $307.00 target price on the stock. ValuEngine downgraded WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Thursday, February 28th. Finally, Cowen began coverage on WellCare Health Plans in a research report on Thursday, February 28th. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $311.13.

Shares of WCG opened at $275.50 on Thursday. The stock has a market cap of $13.70 billion, a price-to-earnings ratio of 24.98, a P/E/G ratio of 1.23 and a beta of 1.19. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.28 and a current ratio of 1.28. WellCare Health Plans, Inc. has a fifty-two week low of $215.49 and a fifty-two week high of $324.99.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.59. The company had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.56 billion. WellCare Health Plans had a return on equity of 15.47% and a net margin of 2.17%. The firm’s revenue for the quarter was up 45.5% compared to the same quarter last year. During the same period last year, the firm earned $2.47 EPS. On average, analysts expect that WellCare Health Plans, Inc. will post 13.95 EPS for the current year.

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About WellCare Health Plans

WellCare Health Plans, Inc provides government-sponsored managed care services. The company operates in three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare Prescription Drug Plans (PDPs). The Medicaid Health Plans segment offers plans for beneficiaries of temporary assistance for needy families, supplemental security income, and aged blind and disabled residents; and other state-based programs, such as children's health insurance programs and long-term services and supports programs for qualifying families who are not eligible for Medicaid.

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Institutional Ownership by Quarter for WellCare Health Plans (NYSE:WCG)

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