Sage Mountain Advisors LLC Acquires Shares of 3,379 Centene Co. (NYSE:CNC)

Sage Mountain Advisors LLC acquired a new stake in shares of Centene Co. (NYSE:CNC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,379 shares of the company’s stock, valued at approximately $205,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Capital Advisors Ltd. LLC lifted its position in shares of Centene by 75.3% in the 4th quarter. Capital Advisors Ltd. LLC now owns 412 shares of the company’s stock worth $25,000 after buying an additional 177 shares during the last quarter. Rialto Wealth Management LLC bought a new position in shares of Centene in the 4th quarter worth about $30,000. OFI Invest Asset Management bought a new position in shares of Centene in the 4th quarter worth about $33,000. SRS Capital Advisors Inc. lifted its position in shares of Centene by 73.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 631 shares of the company’s stock worth $38,000 after buying an additional 267 shares during the last quarter. Finally, Riverview Trust Co lifted its position in Centene by 172.7% in the 4th quarter. Riverview Trust Co now owns 758 shares of the company’s stock valued at $46,000 after purchasing an additional 480 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors.

Centene Stock Performance

Shares of CNC opened at $58.48 on Thursday. The company’s 50 day moving average price is $60.72 and its 200 day moving average price is $64.11. Centene Co. has a 52 week low of $55.03 and a 52 week high of $80.59. The company has a market capitalization of $29.01 billion, a PE ratio of 9.37, a PEG ratio of 0.80 and a beta of 0.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.10 and a current ratio of 1.11.

Centene (NYSE:CNC) last posted its earnings results on Tuesday, February 4th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.49 by $0.31. The company had revenue of $40.81 billion during the quarter, compared to the consensus estimate of $38.78 billion. Centene had a net margin of 2.03% and a return on equity of 13.85%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 earnings per share. Research analysts expect that Centene Co. will post 6.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on CNC. UBS Group upgraded shares of Centene from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $79.00 to $80.00 in a research report on Friday, December 13th. StockNews.com downgraded shares of Centene from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Truist Financial cut their price objective on shares of Centene from $89.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Argus downgraded shares of Centene from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 target price on shares of Centene in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.92.

Insider Buying and Selling

In other news, Director H James Dallas acquired 1,693 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was acquired at an average cost of $59.01 per share, with a total value of $99,903.93. Following the acquisition, the director now owns 1,693 shares in the company, valued at approximately $99,903.93. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas Greco acquired 17,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were purchased at an average cost of $59.75 per share, with a total value of $1,015,750.00. Following the completion of the acquisition, the director now owns 19,309 shares in the company, valued at $1,153,712.75. This trade represents a 736.25 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 23,693 shares of company stock valued at $1,409,954. Company insiders own 0.29% of the company’s stock.

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.