ModivCare Inc. (NASDAQ:MODV) Shares Bought by AQR Capital Management LLC

AQR Capital Management LLC grew its position in shares of ModivCare Inc. (NASDAQ:MODV) by 16.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,444 shares of the company’s stock after purchasing an additional 5,592 shares during the period. AQR Capital Management LLC owned approximately 0.28% of ModivCare worth $1,061,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MODV. Nisa Investment Advisors LLC lifted its holdings in ModivCare by 5,522.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,237 shares of the company’s stock worth $32,000 after buying an additional 1,215 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in ModivCare during the 2nd quarter worth approximately $60,000. State Board of Administration of Florida Retirement System acquired a new position in shares of ModivCare in the 1st quarter valued at approximately $91,000. Central Pacific Bank Trust Division purchased a new position in shares of ModivCare during the 1st quarter valued at approximately $100,000. Finally, Quest Partners LLC increased its stake in shares of ModivCare by 49.9% in the second quarter. Quest Partners LLC now owns 4,003 shares of the company’s stock worth $105,000 after buying an additional 1,332 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MODV. Jefferies Financial Group reduced their price target on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating on the stock in a research report on Friday, September 13th. Lake Street Capital decreased their target price on ModivCare from $50.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Finally, Barrington Research upped their price target on ModivCare from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd.

ModivCare Stock Up 4.7 %

Shares of ModivCare stock opened at $16.67 on Friday. The stock has a market capitalization of $237.38 million, a price-to-earnings ratio of -1.47, a PEG ratio of 2.10 and a beta of 0.49. ModivCare Inc. has a twelve month low of $11.00 and a twelve month high of $52.33. 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 business’s 50 day simple moving average is $21.20 and its 200-day simple moving average is $23.72.

ModivCare (NASDAQ:MODV) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.80). The firm had revenue of $698.30 million for the quarter, compared to analyst estimates 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 was down .1% compared to the same quarter last year. During the same period last year, the firm posted $1.41 EPS. Equities research analysts forecast that ModivCare Inc. will post 1.06 earnings per share 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.