JPMorgan Chase & Co. raised its stake in shares of Civitas Solutions Inc. (NYSE:CIVI) by 282.4% during the second quarter, Holdings Channel reports. The firm owned 388,875 shares of the company’s stock after buying an additional 287,175 shares during the period. JPMorgan Chase & Co. owned 1.05% of Civitas Solutions worth $8,100,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the stock. Bank of Montreal Can purchased a new position in Civitas Solutions during the second quarter worth $8,071,000. TimesSquare Capital Management LLC raised its position in Civitas Solutions by 17.8% in the first quarter. TimesSquare Capital Management LLC now owns 1,914,505 shares of the company’s stock worth $33,370,000 after buying an additional 288,705 shares during the last quarter. Nuveen Asset Management LLC raised its position in Civitas Solutions by 128.0% in the first quarter. Nuveen Asset Management LLC now owns 250,601 shares of the company’s stock worth $4,368,000 after buying an additional 140,690 shares during the last quarter. Rice Hall James & Associates LLC purchased a new position in Civitas Solutions during the second quarter worth $1,678,000. Finally, Renaissance Technologies LLC raised its position in shares of Civitas Solutions by 155.6% in the first quarter. Renaissance Technologies LLC now owns 43,703 shares of the company’s stock worth $762,000 after buying an additional 26,603 shares in the last quarter. Institutional investors own 94.58% of the company’s stock.
Shares of Civitas Solutions Inc. (NYSE:CIVI) traded down 0.51% during midday trading on Friday, hitting $17.69. 269,047 shares of the stock traded hands. The stock has a market cap of $656.85 million, a price-to-earnings ratio of 60.79 and a beta of 0.45. Civitas Solutions Inc. has a 12-month low of $15.19 and a 12-month high of $30.23. The company’s 50 day moving average price is $18.17 and its 200-day moving average price is $19.58.
Civitas Solutions (NYSE:CIVI) last posted its earnings results on Tuesday, August 9th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.20 by $0.07. The firm had revenue of $354 million for the quarter, compared to analysts’ expectations of $357.48 million. Civitas Solutions had a net margin of 0.77% and a return on equity of 10.98%. Civitas Solutions’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.04 earnings per share. On average, equities research analysts expect that Civitas Solutions Inc. will post $0.36 EPS for the current year.
A number of brokerages recently weighed in on CIVI. Raymond James Financial Inc. lowered shares of Civitas Solutions from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 11th. Citigroup Inc. downgraded shares of Civitas Solutions to a “market perform” rating in a research note on Thursday, August 11th. Finally, Zacks Investment Research downgraded shares of Civitas Solutions from a “hold” rating to a “sell” rating in a research note on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $28.14.
In other news, insider Renzo Linda De sold 5,000 shares of Civitas Solutions stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $22.54, for a total transaction of $112,700.00. Following the transaction, the insider now owns 197,021 shares in the company, valued at approximately $4,440,853.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kathleen P. Federico sold 1,500 shares of Civitas Solutions stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $23.03, for a total value of $34,545.00. Following the transaction, the insider now owns 167,595 shares in the company, valued at approximately $3,859,712.85. The disclosure for this sale can be found here. 7.30% of the stock is currently owned by corporate insiders.
About Civitas Solutions
Civitas Solutions, Inc is a provider of home and community-based health and human services to individuals with intellectual, developmental, physical or behavioral disabilities and other special needs. The Company’s clinicians and caregivers develop customized service plans, delivered in non-institutional settings, designed to address a range of often life-long conditions.
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