Amalgamated Bank Purchases 2,647 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Amalgamated Bank grew its holdings in shares of Molina Healthcare, Inc. (NYSE:MOH) by 16.0% during 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 buying 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.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quent Capital LLC boosted its stake in Molina Healthcare by 6.8% during 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 lifted its holdings in shares of Molina Healthcare by 2.2% during 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 during the last quarter. Custom Index Systems LLC boosted its position in shares of Molina Healthcare by 5.0% in the 2nd quarter. Custom Index Systems LLC now owns 690 shares of the company’s stock worth $205,000 after purchasing an additional 33 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Molina Healthcare by 11.5% in the 1st quarter. GAMMA Investing LLC now owns 330 shares of the company’s stock worth $136,000 after buying an additional 34 shares during the last quarter. Finally, AlphaMark Advisors LLC increased its position in Molina Healthcare by 1.1% during 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 in the last quarter. 98.50% of the stock is owned 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 cut 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 raised 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 reiterated 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 reduced 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, July 24th. 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. Based on data from MarketBeat.com, Molina Healthcare currently has a consensus rating of “Hold” and an average price target of $378.00.

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 through 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 document filed with the SEC, which is accessible through 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 the stock is currently owned by company insiders.

Molina Healthcare Price Performance

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 capitalization 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 business’s fifty day moving average price is $335.60 and its 200-day moving average price is $343.44.

Molina Healthcare (NYSE:MOH) 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 business 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 $5.65 earnings per share. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, equities analysts predict that Molina Healthcare, Inc. will post 23.5 earnings per share for the current year.

About Molina Healthcare

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