ModivCare (NASDAQ:MODV) Earns Outperform Rating from Barrington Research

ModivCare (NASDAQ:MODV)‘s stock had its “outperform” rating restated by equities researchers at Barrington Research in a report issued on Monday,Benzinga reports. They currently have a $25.00 price objective on the stock. Barrington Research’s price target would indicate a potential upside of 57.63% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Lake Street Capital decreased their target price on ModivCare from $50.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Jefferies Financial Group decreased their target price 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.

ModivCare Stock Performance

Shares of NASDAQ MODV traded down $0.41 during trading hours on Monday, hitting $15.86. 61,523 shares of the stock were exchanged, compared to its average volume of 256,471. The firm has a market capitalization of $226.48 million, a P/E ratio of -1.23, a P/E/G ratio of 2.53 and a beta of 0.47. 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 has a one year low of $11.00 and a one year high of $52.33. The company’s 50 day moving average is $16.13 and its 200 day moving average is $22.50.

ModivCare (NASDAQ:MODV) last released its earnings results 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 business had revenue of $702.04 million during the quarter, compared to analyst estimates of $711.28 million. During the same period last year, the business earned $1.35 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, research analysts expect that ModivCare will post 0.64 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Q Global Capital Management, L acquired 20,556 shares of the 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 transaction, the insider now owns 1,520,394 shares of the company’s stock, valued at $22,273,772.10. The trade was a 1.37 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have bought 247,705 shares of company stock valued at $3,903,538. 22.10% of the stock is currently owned by insiders.

Institutional Trading of ModivCare

Several institutional investors and hedge funds have recently added to or reduced their stakes in MODV. Barclays PLC lifted its holdings in ModivCare by 249.4% in the third quarter. Barclays PLC now owns 15,235 shares of the company’s stock valued at $218,000 after buying an additional 10,875 shares during the period. K2 Principal Fund L.P. increased its holdings in ModivCare by 24.6% in the third quarter. K2 Principal Fund L.P. now owns 158,820 shares of the company’s stock valued at $2,268,000 after purchasing an additional 31,334 shares during the last quarter. State Street Corp lifted its stake in ModivCare by 1.5% in the third quarter. State Street Corp now owns 349,750 shares of the company’s stock valued at $4,994,000 after buying an additional 5,115 shares during the period. Repertoire Partners LP acquired a new position in shares of ModivCare during the 3rd quarter worth about $178,000. Finally, HG Vora Capital Management LLC acquired a new stake in shares of ModivCare in the 3rd quarter valued at approximately $17,136,000.

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.