Barrow Hanley Mewhinney & Strauss LLC Purchases 5,644 Shares of ModivCare Inc. (NASDAQ:MODV)

Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in ModivCare Inc. (NASDAQ:MODV) by 0.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 683,665 shares of the company’s stock after buying an additional 5,644 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned approximately 4.81% of ModivCare worth $17,939,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its holdings in ModivCare by 9.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 197,301 shares of the company’s stock worth $8,679,000 after acquiring an additional 17,220 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of ModivCare in the 1st quarter valued at $100,000. Steamboat Capital Partners LLC acquired a new position in shares of ModivCare during the 1st quarter valued at $495,000. Advisors Preferred LLC acquired a new stake in shares of ModivCare in the 1st quarter valued at about $159,000. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of ModivCare in the 1st quarter worth $91,000.

ModivCare Trading Down 6.3 %

MODV stock opened at $11.91 on Monday. The company has a market capitalization of $169.60 million, a PE ratio of -0.76, a price-to-earnings-growth ratio of 1.42 and a beta of 0.52. The company’s 50 day moving average price is $23.81 and its two-hundred day moving average price is $25.18. ModivCare Inc. has a one year low of $11.00 and a one year high of $52.33. The company has a debt-to-equity ratio of 103.63, a quick ratio of 0.80 and a current ratio of 0.80.

ModivCare (NASDAQ:MODV) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.80). The company had revenue of $698.30 million during the quarter, compared to the consensus estimate of $701.00 million. ModivCare had a negative net margin of 5.80% and a positive return on equity of 27.52%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.41 EPS. As a group, analysts predict that ModivCare Inc. will post 1.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MODV shares. Jefferies Financial Group lowered their target price on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating on the stock in a report on Friday, September 13th. Lake Street Capital decreased their price objective on shares of ModivCare from $50.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Finally, Barrington Research dropped their price target on ModivCare from $35.00 to $19.00 and set an “outperform” rating on the stock in a report on Tuesday, September 17th.

ModivCare Company Profile

ModivCare Inc, a technology-enabled healthcare services company, provides a suite of integrated supportive care solutions for public and private payors and their members. The company operates through four segments: Non-Emergency Medical Transportation (NEMT), Personal Care, Remote Patient Monitoring (RPM), and Corporate and Other.