Clearbridge Investments LLC Increases Position in CareMax, Inc. (NASDAQ:CMAX)

Clearbridge Investments LLC grew its holdings in CareMax, Inc. (NASDAQ:CMAXGet Rating) by 14.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,582,899 shares of the company’s stock after buying an additional 194,678 shares during the period. Clearbridge Investments LLC’s holdings in CareMax were worth $5,746,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CMAX. Mirae Asset Global Investments Co. Ltd. purchased a new position in CareMax during the second quarter worth about $144,000. Triatomic Management LP boosted its position in CareMax by 3.3% during the first quarter. Triatomic Management LP now owns 904,971 shares of the company’s stock worth $6,760,000 after acquiring an additional 28,507 shares during the last quarter. Arizona State Retirement System acquired a new stake in CareMax during the second quarter worth approximately $47,000. Strs Ohio purchased a new position in CareMax during the second quarter worth approximately $50,000. Finally, JPMorgan Chase & Co. raised its stake in CareMax by 441.0% during the first quarter. JPMorgan Chase & Co. now owns 2,125,656 shares of the company’s stock worth $15,879,000 after purchasing an additional 1,732,736 shares during the period. 71.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMAX has been the topic of a number of recent analyst reports. Truist Financial initiated coverage on shares of CareMax in a research note on Wednesday, September 7th. They set a “hold” rating and a $7.50 price target on the stock. Cowen cut their price target on shares of CareMax to $7.00 in a research note on Wednesday, November 16th. UBS Group cut their target price on shares of CareMax to $11.00 in a research note on Thursday, September 15th. Finally, TheStreet lowered shares of CareMax from a “c-” rating to a “d” rating in a report on Tuesday, September 6th.

CareMax Price Performance

Shares of CMAX stock opened at $4.11 on Friday. The firm has a market cap of $359.21 million, a P/E ratio of -6.97 and a beta of 2.10. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.81 and a quick ratio of 4.78. CareMax, Inc. has a 1-year low of $3.45 and a 1-year high of $9.23. The firm has a fifty day moving average of $6.22 and a two-hundred day moving average of $5.98.

CareMax Profile

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CareMax, Inc provides medical services through physicians and health care professionals. It offers a suite of health care and social services to its patients, including primary care, specialty care, telemedicine, health and wellness, optometry, dental, pharmacy, and transportation. The company also provides CareOptimize, a proprietary software and services platform that provides data, analytics, and rules-based decision tools/workflows for physicians in the United States.

Further Reading

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Institutional Ownership by Quarter for CareMax (NASDAQ:CMAX)

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