Sei Investments Co. Has $1.97 Million Stake in ModivCare Inc. (NASDAQ:MODV)

Sei Investments Co. increased its stake in shares of ModivCare Inc. (NASDAQ:MODV) by 9.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,956 shares of the company’s stock after acquiring an additional 6,318 shares during the quarter. Sei Investments Co. owned approximately 0.53% of ModivCare worth $1,967,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of MODV. Renaissance Technologies LLC lifted its holdings in shares of 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 purchasing an additional 31,800 shares in the last quarter. Steamboat Capital Partners LLC acquired a new stake in shares of ModivCare in the 1st quarter worth about $495,000. Advisors Preferred LLC bought a new position in ModivCare in the 1st quarter valued at about $159,000. Skylands Capital LLC boosted its stake in ModivCare by 5.3% during the 2nd quarter. Skylands Capital LLC now owns 90,000 shares of the company’s stock valued at $2,362,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in ModivCare during the 1st quarter worth approximately $100,000.

ModivCare Price Performance

MODV opened at $16.94 on Friday. The firm has a market cap of $240.73 million, a P/E ratio of -1.08, a PEG ratio of 1.82 and a beta of 0.49. 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 Inc. has a fifty-two week low of $11.00 and a fifty-two week high of $52.33. The firm has a 50-day moving average of $21.82 and a 200 day moving average of $24.07.

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). ModivCare had a positive return on equity of 27.52% and a negative net margin of 5.80%. The company had revenue of $698.30 million during the quarter, compared to the consensus estimate of $701.00 million. During the same period last year, the firm posted $1.41 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. On average, research analysts expect that ModivCare Inc. will post 1.06 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barrington Research upped their price target on ModivCare from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday. Jefferies Financial Group cut 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. Finally, Lake Street Capital decreased their price objective on shares of ModivCare from $50.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th.

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.