Wilmington Savings Fund Society FSB Invests $43,000 in ModivCare Inc. (NASDAQ:MODV)

Wilmington Savings Fund Society FSB bought a new position in ModivCare Inc. (NASDAQ:MODV) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,000 shares of the company’s stock, valued at approximately $43,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its holdings in shares of ModivCare by 5,522.7% during the second quarter. Nisa Investment Advisors LLC now owns 1,237 shares of the company’s stock valued at $32,000 after acquiring an additional 1,215 shares during the period. Quest Partners LLC raised its stake in ModivCare by 49.9% during the 2nd quarter. Quest Partners LLC now owns 4,003 shares of the company’s stock valued at $105,000 after purchasing an additional 1,332 shares during the period. American Century Companies Inc. lifted its holdings in shares of ModivCare by 9.5% in the second quarter. American Century Companies Inc. now owns 19,916 shares of the company’s stock valued at $523,000 after purchasing an additional 1,726 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of ModivCare by 11.7% in the second 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. Finally, Canada Pension Plan Investment Board purchased a new position in shares of ModivCare during the second quarter valued at $60,000.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. 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 research note on Tuesday, September 17th. Jefferies Financial Group reduced their price target on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating for the company in a research report on Friday, September 13th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $25.00 price objective on shares of ModivCare in a research report on Monday, November 18th.

ModivCare Stock Performance

Shares of MODV stock opened at $11.13 on Monday. ModivCare Inc. has a fifty-two week low of $10.63 and a fifty-two week high of $52.33. The stock’s 50-day moving average is $16.34 and its two-hundred day moving average is $20.73. The company has a debt-to-equity ratio of 103.63, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $158.98 million, a P/E ratio of -0.86, a PEG ratio of 2.77 and a beta of 0.52.

ModivCare (NASDAQ:MODV) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). The firm had revenue of $702.04 million during the quarter, compared to analyst estimates of $711.28 million. ModivCare had a positive return on equity of 26.14% and a negative net margin of 6.57%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.35 EPS. Analysts predict that ModivCare Inc. will post 0.64 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Q Global Capital Management, L purchased 9,210 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was bought at an average price of $17.73 per share, for a total transaction of $163,293.30. Following the purchase, the insider now owns 1,967,098 shares in the company, valued at $34,876,647.54. The trade was a 0.47 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have acquired 307,242 shares of company stock worth $4,894,217. 22.10% of the stock is owned by corporate insiders.

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.