Perry Corp Exits Position in Universal American Corporation (UAM)

Universal American Corporation (UAM) : Perry Corp has sold out all of its stake in Universal American Corporation during the most recent quarter, according to the disclosure filed by the company on Aug 12, 2016 with the SEC. The investment management company has sold out 7,722,250 shares of Universal American Corporation which is valued at $56,063,535.

Other Hedge Funds, Including , Renaissance Technologies reduced its stake in UAM by selling 20,600 shares or 11.12% in the most recent quarter. The Hedge Fund company now holds 164,700 shares of UAM which is valued at $1,195,722.Credit Suisse Ag boosted its stake in UAM in the latest quarter, The investment management firm added 57,323 additional shares and now holds a total of 68,221 shares of Universal American Corporation which is valued at $495,284.Eii Capital Management reduced its stake in UAM by selling 279,650 shares or 74.92% in the most recent quarter. The Hedge Fund company now holds 93,590 shares of UAM which is valued at $692,566. Universal American Corporation makes up approx 0.20% of Eii Capital Management’s portfolio.Meeder Asset Management Inc reduced its stake in UAM by selling 4,737 shares or 41.08% in the most recent quarter. The Hedge Fund company now holds 6,793 shares of UAM which is valued at $54,004. Shikiar Asset Management Inc sold out all of its stake in UAM during the most recent quarter. The investment firm sold 11,350 shares of UAM which is valued $90,233.

Universal American Corporation opened for trading at $6.87 and hit $6.94 on the upside on Monday, eventually ending the session at $6.93, with a gain of 1.32% or 0.09 points. The heightened volatility saw the trading volume jump to 2,44,012 shares. Company has a market cap of $451 M.

On the company’s financial health, Universal American Corporation reported $0.27 EPS for the quarter, beating the analyst consensus estimate by $ 0.21 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.06. The company had revenue of $346.10 million for the quarter, compared to analysts expectations of $405.91 million. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.

Universal American Corp. is a health insurance company. The Company primarily serves the growing Medicare population by providing Medicare Advantage products. The Company operates the following segments: Medicare Advantage Management Services Organization (MSO) Medicaid Traditional Insurance and Corporate & Other. The Company provides health insurance to low-income families and individuals with disabilities. Medicare Advantage segment includes the Company’s Medicare Advantage businesses. The Company’s MSO segment supports its physician partnerships in the development of value-based healthcare models. The Company’s Medicaid segment includes the operations of its Total Care Medicaid health plan. The Company’s Traditional Insurance segment reflects the Company’s closed block of insurance products not offered through government programs.

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