Barclays PLC Acquires 10,875 Shares of ModivCare Inc. (NASDAQ:MODV)

Barclays PLC raised its position in shares of ModivCare Inc. (NASDAQ:MODV) by 249.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,235 shares of the company’s stock after purchasing an additional 10,875 shares during the quarter. Barclays PLC owned 0.11% of ModivCare worth $218,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MODV. Quest Partners LLC increased its stake in ModivCare by 49.9% during the 2nd quarter. Quest Partners LLC now owns 4,003 shares of the company’s stock valued at $105,000 after purchasing an additional 1,332 shares in the last quarter. American Century Companies Inc. increased its stake in ModivCare by 9.5% during the 2nd quarter. American Century Companies Inc. now owns 19,916 shares of the company’s stock valued at $523,000 after purchasing an additional 1,726 shares in the last quarter. Renaissance Technologies LLC increased its stake in ModivCare by 11.7% during the 2nd quarter. Renaissance Technologies LLC now owns 304,299 shares of the company’s stock valued at $7,985,000 after purchasing an additional 31,800 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in ModivCare during the 2nd quarter valued at about $60,000. Finally, Sei Investments Co. increased its stake in ModivCare by 9.2% during the 2nd quarter. Sei Investments Co. now owns 74,956 shares of the company’s stock valued at $1,967,000 after purchasing an additional 6,318 shares in the last quarter.

Insider Activity

In related news, major shareholder Q Global Capital Management, L acquired 58,191 shares of ModivCare stock in a transaction dated Thursday, November 7th. The shares were purchased at an average price of $17.13 per share, for a total transaction of $996,811.83. Following the completion of the transaction, the insider now directly owns 1,812,725 shares in the company, valued at approximately $31,051,979.25. This represents a 3.32 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 307,242 shares of company stock worth $4,894,217 over the last quarter. Insiders own 22.10% of the company’s stock.

Wall Street Analyst Weigh In

MODV has been the topic of a number of recent analyst reports. Lake Street Capital dropped their price target on shares of ModivCare from $50.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Barrington Research reaffirmed an “outperform” rating and set a $25.00 price target on shares of ModivCare in a report on Monday, November 18th. Finally, Jefferies Financial Group dropped their price target 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.

ModivCare Stock Performance

MODV opened at $11.67 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 103.63. The company has a market cap of $166.69 million, a price-to-earnings ratio of -0.91, a PEG ratio of 2.77 and a beta of 0.60. The company’s 50 day moving average is $15.47 and its 200 day moving average is $19.49. ModivCare Inc. has a 12-month low of $10.19 and a 12-month high of $52.33.

ModivCare (NASDAQ:MODV) last posted 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 positive return on equity of 26.14% and a negative net margin of 6.57%. The business had revenue of $702.04 million during the quarter, compared to analysts’ expectations of $711.28 million. During the same period in the previous year, the business posted $1.35 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts predict that ModivCare Inc. will post 0.64 EPS for the current year.

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.