Citigroup Inc. boosted its holdings in shares of Magellan Health, Inc. (NASDAQ:MGLN) by 36.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 224,667 shares of the company’s stock after acquiring an additional 59,737 shares during the quarter. Citigroup Inc. owned approximately 0.86% of Magellan Health worth $21,164,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the business. Eagle Bay Advisors LLC bought a new position in shares of Magellan Health during the 2nd quarter valued at $47,000. Amundi Pioneer Asset Management Inc. bought a new position in Magellan Health during the first quarter valued at about $73,000. Federated Hermes Inc. lifted its position in shares of Magellan Health by 122.9% in the first quarter. Federated Hermes Inc. now owns 1,186 shares of the company’s stock worth $111,000 after buying an additional 654 shares during the last quarter. The PNC Financial Services Group Inc. lifted its position in shares of Magellan Health by 13.2% in the first quarter. The PNC Financial Services Group Inc. now owns 1,281 shares of the company’s stock worth $120,000 after buying an additional 149 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of Magellan Health by 4,790.0% during the 1st quarter. Captrust Financial Advisors now owns 1,956 shares of the company’s stock worth $182,000 after acquiring an additional 1,916 shares in the last quarter. 99.56% of the stock is owned by institutional investors.
Shares of MGLN stock opened at $94.62 on Friday. The stock’s 50 day simple moving average is $94.56 and its 200 day simple moving average is $94.20. Magellan Health, Inc. has a twelve month low of $69.35 and a twelve month high of $95.43. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.14 and a current ratio of 3.20. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 7.95 and a beta of 1.19.
Magellan Health Company Profile
Magellan Health, Inc engages in the business of healthcare management. It operates through the following segments: Healthcare, Pharmacy Management and Corporate. The Healthcare segment includes the Behavioral & Specialty Health reporting unit, which provides carve-out management services for behavioral health, employee assistance plans, and other areas of specialty healthcare.
See Also: How does a reverse stock split work?
Receive News & Ratings for Magellan Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magellan Health and related companies with MarketBeat.com's FREE daily email newsletter.