Jane Street Group LLC Cuts Holdings in ModivCare Inc. (NASDAQ:MODV)

Jane Street Group LLC lessened its position in shares of ModivCare Inc. (NASDAQ:MODV) by 47.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 92,805 shares of the company’s stock after selling 83,649 shares during the period. Jane Street Group LLC owned approximately 0.65% of ModivCare worth $1,325,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HG Vora Capital Management LLC purchased a new position in shares of ModivCare in the 3rd quarter valued at $17,136,000. Millennium Management LLC increased its holdings in ModivCare by 83.2% in the 2nd quarter. Millennium Management LLC now owns 841,295 shares of the company’s stock valued at $22,076,000 after purchasing an additional 381,995 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in ModivCare by 0.8% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 683,665 shares of the company’s stock valued at $17,939,000 after purchasing an additional 5,644 shares in the last quarter. State Street Corp raised its position in ModivCare by 1.5% in the third quarter. State Street Corp now owns 349,750 shares of the company’s stock valued at $4,994,000 after purchasing an additional 5,115 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of ModivCare by 11.7% during the second quarter. Renaissance Technologies LLC now owns 304,299 shares of the company’s stock worth $7,985,000 after purchasing an additional 31,800 shares in the last quarter.

ModivCare Trading Up 3.2 %

Shares of MODV opened at $11.35 on Friday. ModivCare Inc. has a one year low of $10.25 and a one year high of $52.33. The stock has a 50-day moving average price of $15.81 and a 200 day moving average price of $20.18. The company has a debt-to-equity ratio of 103.63, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $162.12 million, a P/E ratio of -0.88, a P/E/G ratio of 2.77 and a beta of 0.52.

ModivCare (NASDAQ:MODV) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.04). The company had revenue of $702.04 million for the quarter, compared to the consensus estimate of $711.28 million. ModivCare had a positive return on equity of 26.14% and a negative net margin of 6.57%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.35 EPS. Sell-side analysts forecast that ModivCare Inc. will post 0.64 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Q Global Capital Management, L bought 50,748 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were bought at an average cost of $14.16 per share, for a total transaction of $718,591.68. Following the completion of the purchase, the insider now owns 1,475,038 shares of the company’s stock, valued at $20,886,538.08. This represents a 3.56 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 307,242 shares of company stock valued at $4,894,217 over the last quarter. Insiders own 22.10% of the company’s stock.

Analyst Ratings Changes

MODV has been the subject of a number of recent research reports. Jefferies Financial Group lowered their target price on ModivCare from $25.00 to $14.00 and set a “hold” rating for the company in a research note on Friday, September 13th. Lake Street Capital dropped their price objective on shares of ModivCare from $50.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Finally, Barrington Research reissued an “outperform” rating and set a $25.00 target price on shares of ModivCare in a research report on Monday, November 18th.

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.