Earnest Partners LLC reduced its stake in Molina Healthcare Inc (NYSE:MOH) by 1.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,191,653 shares of the company’s stock after selling 14,782 shares during the period. Earnest Partners LLC owned 2.09% of Molina Healthcare worth $54,339,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Two Sigma Investments LP acquired a new position in Molina Healthcare during the fourth quarter valued at $1,487,000. UBS Asset Management Americas Inc. raised its position in Molina Healthcare by 91.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 62,757 shares of the company’s stock valued at $3,406,000 after buying an additional 30,033 shares during the period. Teachers Advisors LLC raised its position in Molina Healthcare by 34.6% in the fourth quarter. Teachers Advisors LLC now owns 124,489 shares of the company’s stock valued at $6,755,000 after buying an additional 32,018 shares during the period. Mutual of America Capital Management LLC raised its position in Molina Healthcare by 4.4% in the first quarter. Mutual of America Capital Management LLC now owns 34,815 shares of the company’s stock valued at $1,588,000 after buying an additional 1,458 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Molina Healthcare during the fourth quarter valued at $2,170,000. 93.47% of the stock is owned by hedge funds and other institutional investors.
Shares of Molina Healthcare Inc (MOH) traded up 1.24% during mid-day trading on Monday, reaching $69.64. The company had a trading volume of 913,706 shares. The firm has a 50-day moving average of $65.91 and a 200-day moving average of $55.45. Molina Healthcare Inc has a 12-month low of $42.56 and a 12-month high of $70.14. The company has a market capitalization of $3.97 billion, a P/E ratio of 37.42 and a beta of 0.83.
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Several research analysts have recently weighed in on MOH shares. Zacks Investment Research raised Molina Healthcare from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Thursday, May 4th. Jefferies Group LLC reissued a “hold” rating and issued a $52.00 price objective on shares of Molina Healthcare in a research report on Friday, March 24th. Cowen and Company started coverage on Molina Healthcare in a research report on Wednesday, March 15th. They issued a “market perform” rating and a $48.00 price objective for the company. Deutsche Bank AG started coverage on Molina Healthcare in a research report on Wednesday, April 5th. They issued a “hold” rating and a $52.00 price objective for the company. Finally, TheStreet raised Molina Healthcare from a “c” rating to a “b” rating in a research report on Tuesday, May 2nd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $59.23.
In related news, Director John C. Molina sold 15,393 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $65.00, for a total value of $1,000,545.00. Following the sale, the director now owns 693,599 shares in the company, valued at $45,083,935. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel Cooperman sold 7,542 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $65.74, for a total transaction of $495,811.08. Following the completion of the sale, the director now owns 11,992 shares in the company, valued at approximately $788,354.08. The disclosure for this sale can be found here. Insiders sold 92,377 shares of company stock worth $6,183,534 in the last 90 days. 6.20% of the stock is currently owned by corporate insiders.
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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