KCG Holdings Inc. bought a new position in Magellan Health, Inc. (NASDAQ:MGLN) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,284 shares of the company’s stock, valued at approximately $572,000.

Other institutional investors also recently modified their holdings of the company. Howe & Rusling Inc. raised its stake in Magellan Health by 27.7% in the first quarter. Howe & Rusling Inc. now owns 1,845 shares of the company’s stock worth $127,000 after buying an additional 400 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in Magellan Health during the first quarter worth approximately $136,000. Credit Agricole S A acquired a new stake in Magellan Health during the fourth quarter worth approximately $151,000. State of Alaska Department of Revenue raised its stake in Magellan Health by 4.4% in the first quarter. State of Alaska Department of Revenue now owns 2,620 shares of the company’s stock worth $180,000 after buying an additional 110 shares during the period. Finally, Laurion Capital Management LP acquired a new stake in Magellan Health during the first quarter worth approximately $245,000. 93.43% of the stock is owned by institutional investors and hedge funds.

Shares of Magellan Health, Inc. (MGLN) traded up 0.41% during mid-day trading on Thursday, reaching $73.05. The company had a trading volume of 88,951 shares. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 49.36 and a beta of 0.59. The stock has a 50 day moving average of $75.03 and a 200-day moving average of $72.02. Magellan Health, Inc. has a one year low of $49.50 and a one year high of $84.71.

Magellan Health (NASDAQ:MGLN) last announced its earnings results on Friday, July 28th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by $0.48. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. Magellan Health had a net margin of 1.59% and a return on equity of 8.88%. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 EPS. Equities analysts predict that Magellan Health, Inc. will post $5.44 EPS for the current year.

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MGLN has been the topic of a number of recent research reports. Zacks Investment Research upgraded Magellan Health from a “sell” rating to a “hold” rating in a research report on Thursday, April 27th. Leerink Swann reiterated an “outperform” rating and issued a $73.00 price objective (up from $68.00) on shares of Magellan Health in a research report on Sunday, June 25th. BidaskClub upgraded Magellan Health from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, KeyCorp upgraded Magellan Health from a “sector weight” rating to an “overweight” rating and set a $91.00 price objective on the stock in a research report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating and five have given a buy rating to the company. Magellan Health has an average rating of “Hold” and an average price target of $82.20.

In related news, General Counsel Daniel N. Gregoire sold 33,574 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $80.11, for a total transaction of $2,689,613.14. Following the sale, the general counsel now owns 14,633 shares of the company’s stock, valued at $1,172,249.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Daniel N. Gregoire sold 14,114 shares of the business’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $80.11, for a total transaction of $1,130,672.54. Following the sale, the general counsel now directly owns 27,573 shares in the company, valued at approximately $2,208,873.03. The disclosure for this sale can be found here. Insiders have sold a total of 97,943 shares of company stock worth $7,846,757 in the last ninety days. Insiders own 3.60% of the company’s stock.

Magellan Health Company Profile

Magellan Health, Inc is engaged in the healthcare management business. The Company’s segments include Healthcare, Pharmacy Management and Corporate. It is focused on managing special populations, complete pharmacy benefits and other specialty areas of healthcare. Its Healthcare includes its management of behavioral healthcare services and employee assistance program (EAP) services, management of other specialty areas, including diagnostic imaging and musculoskeletal management, and the integrated management of physical, behavioral and pharmaceutical healthcare for special populations, delivered through Magellan Complete Care (MCC).

Institutional Ownership by Quarter for Magellan Health (NASDAQ:MGLN)

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