Amalgamated Bank buys 2,647 shares of Molina Healthcare, Inc. (NYSE:MOH)

Amalgamated Bank grew its holdings in shares of Molina Healthcare, Inc. (NYSE:MOH – Free Report) by 16.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,177 shares of the company’s stock after purchasing an additional 2,647 shares during the period. Amalgamated Bank’s holdings in Molina Healthcare were worth $5,701,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have recently modified their holdings of the company. Quent Capital LLC boosted its stake in Molina Healthcare by 6.8% in the first quarter. Quent Capital LLC now owns 489 shares of the company’s stock worth $201,000 after acquiring an additional 31 shares in the last quarter. Clear Creek Financial Management LLC boosted its holdings in shares of Molina Healthcare by 2.2% in the first quarter. Clear Creek Financial Management LLC now owns 1,462 shares of the company’s stock valued at $601,000 after purchasing an additional 32 shares in the last quarter. Custom Index Systems LLC boosted its position in shares of Molina Healthcare by 5.0% in the second quarter. Custom Index Systems LLC now owns 690 shares of the company’s stock worth $205,000 after buying an additional 33 shares in the last quarter. GAMMA Investing LLC boosted its stake in Molina Healthcare by 11.5% in the first quarter. GAMMA Investing LLC now owns 330 shares of the company’s stock worth $136,000 after purchasing an additional 34 shares in the last quarter. Finally, AlphaMark Advisors LLC raised its position in Molina Healthcare by 1.1% in the 2nd quarter. AlphaMark Advisors LLC now owns 3,543 shares of the company’s stock valued at $1,053,000 after buying an additional 40 shares. shares in the last quarter. 98.50% of shares are held by hedge funds and other institutional investors.

Analysts set new price targets

Several equities research analysts have commented on the company. TD Cowen dropped their target price on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Truist Financial decreased their price objective on shares of Molina Healthcare from $440.00 to $400.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Wells Fargo & Company lifted their price objective on shares of Molina Healthcare from $315.00 to $360.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $406.00 target price on shares of Molina Healthcare in a research note on Tuesday, September 10th. Finally, Jefferies Financial Group cut their price target on shares of Molina Healthcare from $354.00 to $297.00 and set a “hold” rating for the company in a research report on Wednesday, the 24th July. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Molina Healthcare presently has a consensus rating of “Hold” and an average price target of $378.00, based on data from MarketBeat.com.

Check out our latest research report on MOH

Insider activity at Molina Healthcare

In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $339.21, for a total value of $339,210.00. Following the transaction, the director now directly owns 18,025 shares in the company, valued at $6,114,260.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $339.21, for a total value of $339,210.00. Following the completion of the sale, the director now owns 18,025 shares in the company, valued at $6,114,260.25. The sale was disclosed in a filing with the SEC, which is accessible via this link. Also, CAO Maurice Hebert sold 393 shares of Molina Healthcare stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $346.52, for a total value of $136,182.36. Following the transaction, the chief accounting officer now directly owns 9,473 shares in the company, valued at $3,282,583.96. The disclosure for this sale can be found here. 1.10% of shares are currently owned by company insiders.

Molina Healthcare Performance Price

NYSE MOH opened at $351.42 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.57, and a quick ratio of 1.57. Molina Healthcare, Inc. has a 1 year low of $282.96 and a 1 year high of $423.92. The stock has a market cap of $20.59 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 1.20 and a beta of 0.57. The company’s fifty day moving average price is $335.60 and its 200 day moving average price is $343.44.

Molina Healthcare (NYSE:MOH – Get Free Report ) last announced its earnings results on Wednesday, July 24th. The company reported $5.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.73 by $0.13. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. The company had revenue of $9.88 billion for the quarter, compared to analysts’ expectations of $9.75 billion. During the same period last year, the firm posted earnings of $5.65 per share. The company’s revenue for the quarter was up 18.7% year over year. On average, equities analysts predict that Molina Healthcare, Inc. will post 23.5 earnings per share for the current year.

About Molina Healthcare

(Free Report)

Molina Healthcare, Inc provides managed care services to low-income families and individuals under the Medicaid and Medicare programs and through state insurance marketplaces. It operates in four segments: Medicaid, Medicare, Marketplace and Other. The company served in 19 states. The company was founded in 1980 and is headquartered in Long Beach, California.

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