Barrington Research Reaffirms Outperform Rating for ModivCare (NASDAQ:MODV)

Barrington Research reissued their outperform rating on shares of ModivCare (NASDAQ:MODV) in a report published on Monday morning,Benzinga reports. They currently have a $25.00 target price on the stock.

Several other research firms also recently commented on MODV. Lake Street Capital decreased their target price on shares of ModivCare from $50.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Jefferies Financial Group lowered their price objective on ModivCare from $25.00 to $14.00 and set a “hold” rating for the company in a research note on Friday, September 13th.

ModivCare Price Performance

Shares of MODV opened at $15.56 on Monday. ModivCare has a one year low of $11.00 and a one year high of $52.33. The stock has a 50-day moving average of $15.80 and a 200-day moving average of $22.46. The company has a debt-to-equity ratio of 103.63, a quick ratio of 0.80 and a current ratio of 0.80.

ModivCare (NASDAQ:MODV) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.45 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $711.28 million. During the same quarter in the prior year, the firm earned $1.35 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that ModivCare will post 0.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ModivCare news, major shareholder Q Global Capital Management, L acquired 20,556 shares of ModivCare stock in a transaction on Friday, October 25th. The stock was purchased at an average price of $14.65 per share, for a total transaction of $301,145.40. Following the purchase, the insider now directly 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 document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders bought 247,705 shares of company stock valued at $3,903,538. Corporate insiders own 22.10% of the company’s stock.

Institutional Investors Weigh In On ModivCare

A number of hedge funds have recently modified their holdings of MODV. HG Vora Capital Management LLC purchased a new position in shares of ModivCare during the 3rd quarter valued at $17,136,000. Millennium Management LLC increased its stake in shares of ModivCare by 83.2% in the second quarter. Millennium Management LLC now owns 841,295 shares of the company’s stock worth $22,076,000 after purchasing an additional 381,995 shares in the last quarter. K2 Principal Fund L.P. bought a new stake in shares of ModivCare in the second quarter valued at approximately $3,345,000. AYAL Capital Advisors Ltd lifted its stake in shares of ModivCare by 42.1% during the 2nd quarter. AYAL Capital Advisors Ltd now owns 262,904 shares of the company’s stock valued at $6,899,000 after buying an additional 77,930 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in ModivCare by 11.7% in the 2nd quarter. Renaissance Technologies LLC now owns 304,299 shares of the company’s stock worth $7,985,000 after buying an additional 31,800 shares during the period.

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.