Investors Feel The Pain of WellCare's (WCG) Melt Down
Shares of WellCare Health Plans, Inc. (NYSE: WCG) have dropped 62% today after re-opening from yesterday's trading halt, which was related to an FBI raid of its Tampa headquarters.
There were no details about the federal raid, which is adding to the anxiety.
Investors, including many large institutions, are feeling the pain today.
Among the big losers in WellCare's stock is James Simons' Renaissance Technologies hedge fund, which held 3,470,900 shares at the quarter ended 06/30 according to StreetInsider.com data. His possible loss today is about $250 million from this one trade.
Other big holders of WellCare Health, according to the latest StreetInsider.com data, are Barclays (7.9%), Goldman Sachs Group (7.5%), State Street (+6.5%) and Putnam (-6.1%).
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There were no details about the federal raid, which is adding to the anxiety.
Investors, including many large institutions, are feeling the pain today.
Among the big losers in WellCare's stock is James Simons' Renaissance Technologies hedge fund, which held 3,470,900 shares at the quarter ended 06/30 according to StreetInsider.com data. His possible loss today is about $250 million from this one trade.
Other big holders of WellCare Health, according to the latest StreetInsider.com data, are Barclays (7.9%), Goldman Sachs Group (7.5%), State Street (+6.5%) and Putnam (-6.1%).
For market moving Wall Street News Sign-Up as a StreetInsider.com Member Today
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