GSA Capital Partners LLP Invests $2.13 Million in Centene Corporation $CNC

GSA Capital Partners LLP bought a new stake in Centene Corporation (NYSE:CNC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 33,244 shares of the company’s stock, valued at approximately $2,134,000.

A number of other institutional investors have also added to or reduced their stakes in CNC. DV Equities LLC acquired a new stake in Centene in the fourth quarter valued at approximately $26,000. Elevation Wealth Partners LLC raised its position in shares of Centene by 564.6% during the second quarter. Elevation Wealth Partners LLC now owns 658 shares of the company’s stock worth $42,000 after purchasing an additional 559 shares during the period. IFC & Insurance Marketing Inc. bought a new position in shares of Centene in the 4th quarter worth $28,000. SBI Securities Co. Ltd. lifted its holdings in shares of Centene by 118.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock worth $31,000 after purchasing an additional 406 shares in the last quarter. Finally, Bayban acquired a new stake in Centene in the 4th quarter valued at $33,000. 93.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Bank of America upped their price objective on shares of Centene from $72.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. TD Cowen reissued a “hold” rating and set a $65.00 target price (up from $47.00) on shares of Centene in a research report on Tuesday, July 14th. Barclays restated an “overweight” rating and issued a $80.00 target price (up from $75.00) on shares of Centene in a report on Wednesday, July 29th. Wall Street Zen raised Centene from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $40.00 price objective on shares of Centene in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Centene has a consensus rating of “Hold” and an average target price of $69.15.

Centene Stock Performance

NYSE CNC opened at $67.53 on Friday. The company has a fifty day moving average price of $65.00 and a 200-day moving average price of $51.65. The firm has a market cap of $33.36 billion, a price-to-earnings ratio of -6.47, a PEG ratio of 0.36 and a beta of 1.08. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.15 and a quick ratio of 1.15. Centene Corporation has a 1 year low of $27.76 and a 1 year high of $69.36.

Centene (NYSE:CNC) last released its quarterly earnings results on Tuesday, July 28th. The company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $1.42. Centene had a negative net margin of 2.51% and a positive return on equity of 12.12%. The company had revenue of $53.58 billion for the quarter, compared to analyst estimates of $47.64 billion. During the same period last year, the firm earned ($0.16) earnings per share. The firm’s revenue was up 9.9% on a year-over-year basis. Centene has set its FY 2026 guidance at 4.800- EPS. As a group, equities research analysts predict that Centene Corporation will post 4.89 EPS for the current fiscal year.

Centene Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.