Coronation Fund Managers Ltd. Trims Stock Holdings in CareMax, Inc. (NASDAQ:CMAX)

Coronation Fund Managers Ltd. trimmed its holdings in CareMax, Inc. (NASDAQ:CMAX) by 96.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,646 shares of the company’s stock after selling 1,207,721 shares during the period. Coronation Fund Managers Ltd. owned approximately 1.10% of CareMax worth $201,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of CMAX. Eminence Capital LP grew its stake in CareMax by 5.5% in the 4th quarter. Eminence Capital LP now owns 10,424,657 shares of the company’s stock valued at $5,194,000 after buying an additional 539,544 shares in the last quarter. CastleKnight Management LP boosted its holdings in CareMax by 193.0% in the 4th quarter. CastleKnight Management LP now owns 374,700 shares of the company’s stock valued at $187,000 after purchasing an additional 246,800 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in CareMax in the 1st quarter valued at $130,000. 65.94% of the stock is currently owned by hedge funds and other institutional investors.

CareMax Stock Performance

NASDAQ:CMAX traded up $0.10 during trading hours on Wednesday, hitting $2.34. The stock had a trading volume of 51,128 shares, compared to its average volume of 197,726. The company has a 50 day simple moving average of $2.83 and a two-hundred day simple moving average of $5.91. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.09. CareMax, Inc. has a one year low of $1.88 and a one year high of $99.90.

CareMax (NASDAQ:CMAX) last announced its earnings results on Thursday, May 9th. The company reported ($10.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($8.73) by ($2.26). CareMax had a negative return on equity of 57.78% and a negative net margin of 79.55%. The company had revenue of $232.25 million during the quarter, compared to analysts’ expectations of $215.56 million. On average, equities research analysts anticipate that CareMax, Inc. will post -23.93 EPS for the current fiscal year.

CareMax Company Profile

CareMax, Inc provides care and chronic disease management 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; and services to children and adults through Medicaid programs, as well as through commercial insurance plans.