Magellan Health Inc (MGLN) Shares Sold by GSA Capital Partners LLP
GSA Capital Partners LLP lessened its stake in shares of Magellan Health Inc (NASDAQ:MGLN) by 25.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,980 shares of the company’s stock after selling 3,046 shares during the period. GSA Capital Partners LLP’s holdings in Magellan Health were worth $775,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of MGLN. Ameritas Investment Partners Inc. increased its stake in shares of Magellan Health by 6.1% in the second quarter. Ameritas Investment Partners Inc. now owns 2,087 shares of the company’s stock worth $152,000 after purchasing an additional 120 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Magellan Health in the second quarter worth about $165,000. HighTower Advisors LLC purchased a new position in shares of Magellan Health in the second quarter worth about $210,000. Pacad Investment Ltd. increased its stake in shares of Magellan Health by 34.8% in the second quarter. Pacad Investment Ltd. now owns 3,100 shares of the company’s stock worth $226,000 after purchasing an additional 800 shares in the last quarter. Finally, Amalgamated Bank increased its stake in shares of Magellan Health by 5.1% in the second quarter. Amalgamated Bank now owns 3,265 shares of the company’s stock worth $238,000 after purchasing an additional 159 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.
Magellan Health Inc (NASDAQ MGLN) opened at $98.30 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.28 and a quick ratio of 2.21. Magellan Health Inc has a 1 year low of $64.05 and a 1 year high of $99.80. The company has a market cap of $2,360.00, a P/E ratio of 26.01, a PEG ratio of 1.31 and a beta of 0.54.
In other news, SVP Jeffrey N. West sold 30,021 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $87.31, for a total value of $2,621,133.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mostafa Kamal sold 2,180 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $92.00, for a total transaction of $200,560.00. Following the completion of the transaction, the chief executive officer now owns 2,180 shares of the company’s stock, valued at $200,560. The disclosure for this sale can be found here. Insiders sold 141,794 shares of company stock valued at $12,812,375 over the last 90 days. 5.00% of the stock is owned by company insiders.
Several equities analysts have recently weighed in on MGLN shares. ValuEngine upgraded shares of Magellan Health from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. KeyCorp reiterated a “buy” rating and issued a $89.00 target price on shares of Magellan Health in a research note on Friday, September 22nd. Zacks Investment Research downgraded shares of Magellan Health from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Jefferies Group reiterated a “buy” rating and issued a $94.00 target price on shares of Magellan Health in a research note on Friday, October 13th. Finally, Raymond James Financial reiterated a “hold” rating on shares of Magellan Health in a research note on Saturday, December 2nd. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $96.00.
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).
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