Squarepoint Ops LLC Invests $417,000 in ModivCare Inc. (NASDAQ:MODV)

Squarepoint Ops LLC acquired a new stake in ModivCare Inc. (NASDAQ:MODV) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 15,896 shares of the company’s stock, valued at approximately $417,000. Squarepoint Ops LLC owned 0.11% of ModivCare as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. K2 Principal Fund L.P. acquired a new stake in shares of ModivCare in the 2nd quarter valued at about $3,345,000. Marshall Wace LLP boosted its position in ModivCare by 22.8% during the 2nd quarter. Marshall Wace LLP now owns 105,859 shares of the company’s stock worth $2,778,000 after acquiring an additional 19,648 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of ModivCare by 0.8% in the second 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 during the last quarter. Sei Investments Co. lifted its position in shares of ModivCare by 9.2% in the second quarter. Sei Investments Co. now owns 74,956 shares of the company’s stock worth $1,967,000 after purchasing an additional 6,318 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in ModivCare in the second quarter valued at $60,000.

Analysts Set New Price Targets

MODV has been the subject of several recent research reports. Jefferies Financial Group reduced their price target on ModivCare from $25.00 to $14.00 and set a “hold” rating for the company in a research report on Friday, September 13th. Barrington Research upped their price target on shares of ModivCare from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Finally, Lake Street Capital reduced their price objective on ModivCare from $50.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, September 17th.

ModivCare Stock Performance

Shares of NASDAQ:MODV opened at $15.92 on Friday. The company’s 50 day simple moving average is $21.29 and its 200 day simple moving average is $23.76. The company has a debt-to-equity ratio of 103.63, a current ratio of 0.80 and a quick ratio of 0.80. ModivCare Inc. has a 1 year low of $11.00 and a 1 year high of $52.33. The stock has a market capitalization of $226.24 million, a price-to-earnings ratio of -1.01, a price-to-earnings-growth ratio of 2.29 and a beta of 0.49.

ModivCare (NASDAQ:MODV) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.80). The business had revenue of $698.30 million for the quarter, compared to analyst estimates of $701.00 million. ModivCare had a positive return on equity of 27.52% and a negative net margin of 5.80%. ModivCare’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the firm posted $1.41 EPS. As a group, research analysts predict that ModivCare Inc. will post 1.06 EPS for the current fiscal year.

About ModivCare

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.