Maximus IncMMS
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Maximus IncTheme Impact
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Third Avenue ManagementPrivate± Mixed
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Third Avenue Management's Small-Cap Value Fund initiated a position in government services contractor Maximus, Inc. during the second quarter of 2026, according to the fund's quarterly investor letter. The fund returned 12.85% in Q2 2026, trailing the Russell 2000 Value Index's 17.19% but beating the MSCI USA Small Cap Value Index's 12.61%, and is up 21.72% year-to-date. Maximus closed at $55.97 per share on September 21, 2026, down 4.37% over the past month and 36.07% over the past year, with a market capitalization of $2.93 billion and a 52-week range of $52.73 to $100.00. The fund said Maximus' federal business revenue grew more than 8% in 2025, and that management's recent operational guidance and a very substantial share buyback authorization inspire confidence, with operating margins expected to increase in 2026 due to internal use of artificial intelligence. As one example, the fund cited Maximus' Veterans Affairs benefits administration business, which now processes ten million pages of medical records every day in the Amazon cloud.
Maximus Inc