Maximus (NYSE:MMS) Stock Price Down 7% – Here’s What Happened

Maximus, Inc. (NYSE:MMS)’s share price dropped 7% during trading on Thursday . The company traded as low as $81.76 and last traded at $81.78. Approximately 966,672 shares traded hands during mid-day trading, an increase of 168% from the average daily volume of 360,138 shares. The stock had previously closed at $87.95.

Maximus Trading Down 2.0 %

The business has a fifty day moving average price of $89.02 and a 200 day moving average price of $88.11. The company has a market capitalization of $4.77 billion, a PE ratio of 16.60 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.59 and a current ratio of 1.59.

Maximus Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, November 30th. Stockholders of record on Friday, November 15th will be paid a $0.30 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.52%. Maximus’s dividend payout ratio (DPR) is currently 25.16%.

Insider Activity

In other news, insider Michelle F. Link sold 1,363 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $92.56, for a total value of $126,159.28. Following the completion of the sale, the insider now owns 6,567 shares in the company, valued at approximately $607,841.52. This trade represents a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Maximus

Hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. grew its stake in Maximus by 151.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 233,134 shares of the health services provider’s stock valued at $19,980,000 after purchasing an additional 140,481 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Maximus by 942.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 323,300 shares of the health services provider’s stock valued at $27,707,000 after purchasing an additional 292,300 shares in the last quarter. Tidal Investments LLC grew its stake in Maximus by 238.9% during the 1st quarter. Tidal Investments LLC now owns 12,763 shares of the health services provider’s stock valued at $1,071,000 after purchasing an additional 8,997 shares in the last quarter. SG Americas Securities LLC grew its stake in Maximus by 609.6% during the 2nd quarter. SG Americas Securities LLC now owns 14,278 shares of the health services provider’s stock valued at $1,224,000 after purchasing an additional 12,266 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in Maximus during the 1st quarter valued at approximately $491,000. Institutional investors and hedge funds own 97.21% of the company’s stock.

Maximus Company Profile

Maximus, Inc operates as a provider of government services in the United States and internationally. It operates through three segments: U.S. Federal Services, U.S. Services, and Outside the U.S. The U.S. Services segment offers program eligibility support and enrollment; centralized multilingual customer contact centers, multichannel, and digital self-service options for enrollment; application assistance and independent health plan choice counseling; beneficiary outreach, education, eligibility, enrollment, and redeterminations; and person-centered independent disability, long-term sick, and other health assessments.