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WEB PGGM Investments Sells Off 90% of Molina Healthcare Stock
7,199 Shares Sold in Second Quarter
WEB PGGM Investments has significantly reduced its stake in Molina Healthcare Inc. (NYSE: MOH), selling off 7,199 shares in the second quarter, according to the company's recent Form 13F filing with the U.S. Securities and Exchange Commission (SEC).
This represents a 90% reduction in WEB PGGM Investments' position in Molina Healthcare, which stood at 8,500 shares at the end of the first quarter.
Reasons for Sale Unknown
The reasons for the sale are not known, but it is worth noting that Molina Healthcare's stock price has underperformed the broader market in recent months.
- Since the beginning of the year, Molina Healthcare's stock price has declined by over 20%, while the S&P 500 index has gained over 10%.
- Molina Healthcare's recent financial results have also been mixed.
In the second quarter, the company reported a decline in revenue and earnings, and it lowered its full-year guidance.
WEB PGGM Investments Remains a Shareholder
Despite the sale, WEB PGGM Investments remains a shareholder in Molina Healthcare, with 801 shares remaining as of the end of the second quarter.
It is also worth noting that WEB PGGM Investments is not the only institutional investor to sell Molina Healthcare stock in recent months.
- BlackRock Inc. (NYSE: BLK) reduced its position in Molina Healthcare by 4.5% in the second quarter.
- Vanguard Group, Inc. (NYSE: VOO) reduced its position in Molina Healthcare by 3.5% in the second quarter.
These sales suggest that some institutional investors are becoming less bullish on Molina Healthcare's prospects.
Conclusion
WEB PGGM Investments' sale of Molina Healthcare stock is a significant development, but it is important to remember that the company remains a shareholder.
It is also important to note that Molina Healthcare's stock price has underperformed the broader market in recent months, and the company's recent financial results have been mixed.
As a result, investors should carefully consider the risks and rewards before investing in Molina Healthcare.