Centene Co. (NYSE:CNC) Position Increased by Quinn Opportunity Partners LLC

Quinn Opportunity Partners LLC lifted its position in shares of Centene Co. (NYSE:CNC - Free Report) by 154.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 89,481 shares of the company's stock after purchasing an additional 54,358 shares during the period. Quinn Opportunity Partners LLC's holdings in Centene were worth $5,421,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC increased its position in Centene by 75.3% during the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company's stock worth $25,000 after purchasing an additional 177 shares during the period. Hurley Capital LLC acquired a new position in Centene during the fourth quarter worth $26,000. Rialto Wealth Management LLC purchased a new position in Centene in the fourth quarter worth $30,000. OFI Invest Asset Management purchased a new stake in shares of Centene during the 4th quarter worth $33,000. Finally, SRS Capital Advisors Inc. increased its holdings in shares of Centene by 73.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 631 shares of the company's stock valued at $38,000 after purchasing an additional 267 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company's stock.

Centene Stock Performance

CNC stock traded down $0.92 during mid-day trading on Monday, reaching $62.94. The company had a trading volume of 3,113,182 shares, compared to its average volume of 4,695,224. The stock's 50-day simple moving average is $59.49 and its two-hundred day simple moving average is $61.65. The stock has a market capitalization of $31.22 billion, a P/E ratio of 10.09, a P/E/G ratio of 0.80 and a beta of 0.53. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.70. Centene Co. has a one year low of $55.03 and a one year high of $80.59.

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Centene (NYSE:CNC - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.31. The firm had revenue of $40.81 billion for the quarter, compared to the consensus estimate of $38.78 billion. Centene had a return on equity of 13.85% and a net margin of 2.03%. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 EPS. Research analysts anticipate that Centene Co. will post 6.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CNC. StockNews.com raised shares of Centene from a "buy" rating to a "strong-buy" rating in a research note on Friday. Guggenheim initiated coverage on shares of Centene in a research report on Wednesday, April 9th. They issued a "neutral" rating for the company. Argus downgraded Centene from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Jefferies Financial Group upgraded Centene from an "underperform" rating to a "hold" rating and upped their target price for the company from $53.00 to $64.00 in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. restated an "overweight" rating and issued a $75.00 target price (down from $80.00) on shares of Centene in a report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Centene presently has a consensus rating of "Moderate Buy" and a consensus price target of $80.85.

Centene Company Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.