ModivCare Inc. (NASDAQ:MODV) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its stake in ModivCare Inc. (NASDAQ:MODV) by 5.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 77,907 shares of the company’s stock after selling 4,239 shares during the quarter. Franklin Resources Inc. owned 0.55% of ModivCare worth $1,113,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of ModivCare in the third quarter valued at about $43,000. Barclays PLC lifted its stake in ModivCare by 249.4% in the 3rd quarter. Barclays PLC now owns 15,235 shares of the company’s stock valued at $218,000 after buying an additional 10,875 shares in the last quarter. K2 Principal Fund L.P. boosted its holdings in ModivCare by 24.6% in the 3rd quarter. K2 Principal Fund L.P. now owns 158,820 shares of the company’s stock worth $2,268,000 after buying an additional 31,334 shares during the last quarter. State Street Corp increased its stake in ModivCare by 1.5% during the 3rd quarter. State Street Corp now owns 349,750 shares of the company’s stock worth $4,994,000 after buying an additional 5,115 shares in the last quarter. Finally, Repertoire Partners LP acquired a new position in shares of ModivCare during the third quarter valued at approximately $178,000.

ModivCare Stock Up 3.2 %

Shares of NASDAQ:MODV opened at $11.35 on Friday. ModivCare Inc. has a 52-week low of $10.25 and a 52-week high of $52.33. The stock has a market cap of $162.12 million, a P/E ratio of -0.88, a PEG ratio of 2.77 and a beta of 0.52. The business has a fifty day moving average of $15.81 and a two-hundred day moving average of $20.18. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 103.63.

ModivCare (NASDAQ:MODV) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). ModivCare had a negative net margin of 6.57% and a positive return on equity of 26.14%. The firm had revenue of $702.04 million during the quarter, compared to analysts’ expectations of $711.28 million. During the same period in the prior year, the company posted $1.35 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, research analysts expect that ModivCare Inc. will post 0.64 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on MODV. Lake Street Capital dropped their price target on ModivCare from $50.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Barrington Research reaffirmed an “outperform” rating and set a $25.00 target price on shares of ModivCare in a report on Monday, November 18th. Finally, Jefferies Financial Group decreased their price target on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating on the stock in a research note on Friday, September 13th.

Insider Transactions at ModivCare

In other ModivCare news, major shareholder Q Global Capital Management, L acquired 20,556 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was purchased at an average cost of $14.65 per share, with a total value of $301,145.40. Following the transaction, the insider now owns 1,520,394 shares of the company’s stock, valued at $22,273,772.10. This trade represents a 1.37 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders bought 307,242 shares of company stock worth $4,894,217 in the last 90 days. Insiders own 22.10% of the company’s stock.

ModivCare 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.