Seven Eight Capital LP Buys New Holdings in Maximus, Inc. (MMS)
Seven Eight Capital LP bought a new position in Maximus, Inc. (NYSE:MMS) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,100 shares of the health services provider’s stock, valued at approximately $382,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Stephens Inc. AR increased its stake in Maximus by 0.9% during the second quarter. Stephens Inc. AR now owns 6,638 shares of the health services provider’s stock worth $416,000 after acquiring an additional 61 shares during the last quarter. Riverhead Capital Management LLC increased its stake in Maximus by 72.6% during the second quarter. Riverhead Capital Management LLC now owns 4,661 shares of the health services provider’s stock worth $292,000 after acquiring an additional 1,961 shares during the last quarter. Oak Ridge Investments LLC increased its stake in Maximus by 0.5% during the second quarter. Oak Ridge Investments LLC now owns 1,155,918 shares of the health services provider’s stock worth $72,395,000 after acquiring an additional 6,277 shares during the last quarter. Capital Fund Management S.A. bought a new stake in Maximus during the second quarter worth approximately $1,273,000. Finally, Martingale Asset Management L P bought a new stake in Maximus during the second quarter worth approximately $1,191,000. 97.23% of the stock is currently owned by institutional investors.
Shares of Maximus, Inc. (NYSE MMS) opened at 63.58 on Monday. The firm’s 50-day moving average price is $60.72 and its 200 day moving average price is $61.45. Maximus, Inc. has a 52 week low of $43.69 and a 52 week high of $64.97. The company has a market capitalization of $4.12 billion, a PE ratio of 20.38 and a beta of 1.37.
Maximus (NYSE:MMS) last released its earnings results on Thursday, August 3rd. The health services provider reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.03. Maximus had a net margin of 8.43% and a return on equity of 25.08%. The business had revenue of $600.40 million for the quarter, compared to analyst estimates of $614.12 million. During the same period last year, the company posted $0.79 EPS. The business’s revenue was down 2.7% on a year-over-year basis. Equities analysts predict that Maximus, Inc. will post $3.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th were paid a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Friday, August 11th. Maximus’s dividend payout ratio (DPR) is 5.73%.
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In other Maximus news, General Counsel David Francis sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $63.15, for a total value of $63,150.00. Following the transaction, the general counsel now directly owns 16,715 shares of the company’s stock, valued at approximately $1,055,552.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Bruce Caswell sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $60.97, for a total transaction of $487,760.00. Following the completion of the transaction, the president now directly owns 35,904 shares in the company, valued at $2,189,066.88. The disclosure for this sale can be found here. Insiders sold a total of 125,403 shares of company stock worth $7,645,251 over the last three months. Corporate insiders own 3.10% of the company’s stock.
Several equities research analysts have weighed in on the company. KeyCorp reissued a “sector weight” rating on shares of Maximus in a research note on Thursday, May 25th. Canaccord Genuity cut Maximus from a “buy” rating to a “hold” rating and set a $62.00 price objective on the stock. in a research note on Tuesday, July 4th. BidaskClub cut Maximus from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 6th. Zacks Investment Research raised Maximus from a “sell” rating to a “hold” rating in a research note on Wednesday, July 26th. Finally, Robert W. Baird reissued a “hold” rating and set a $64.00 price objective on shares of Maximus in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. Maximus currently has a consensus rating of “Hold” and a consensus target price of $62.43.
Maximus Company Profile
MAXIMUS, Inc provides business process services (BPS) to government health and human services agencies. The Company operates through three segments: U.S. Federal Services, Health Services and Human Services. The U.S. Federal Services segment provides BPS and program management for large government programs, independent health review and appeals services for both the United States Federal Government, and state-based programs and technology solutions for civilian federal programs.
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