Quest Partners LLC Has $140,000 Stake in ModivCare Inc. (NASDAQ:MODV)

Quest Partners LLC lifted its stake in shares of ModivCare Inc. (NASDAQ:MODV) by 144.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,779 shares of the company’s stock after acquiring an additional 5,776 shares during the period. Quest Partners LLC’s holdings in ModivCare were worth $140,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. SummerHaven Investment Management LLC grew its holdings in ModivCare by 3.8% during the second quarter. SummerHaven Investment Management LLC now owns 14,511 shares of the company’s stock valued at $381,000 after purchasing an additional 530 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in ModivCare by 3.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,483 shares of the company’s stock valued at $481,000 after buying an additional 608 shares during the last quarter. Nisa Investment Advisors LLC raised 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 acquiring an additional 1,215 shares during the period. American Century Companies Inc. boosted its holdings in ModivCare by 9.5% during the second quarter. American Century Companies Inc. now owns 19,916 shares of the company’s stock valued at $523,000 after acquiring an additional 1,726 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of ModivCare in the second quarter valued at about $60,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Barrington Research reissued an “outperform” rating and set a $25.00 price objective on shares of ModivCare in a research report on Monday, November 18th. Jefferies Financial Group lowered their price objective on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating on the stock in a research note on Friday, September 13th. Finally, Lake Street Capital cut their target price 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.

Insider Activity

In related news, major shareholder Q Global Capital Management, L bought 50,748 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was acquired at an average price of $14.16 per share, for a total transaction of $718,591.68. Following the transaction, the insider now directly owns 1,475,038 shares of the company’s stock, valued at $20,886,538.08. This represents a 3.56 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders have acquired 292,773 shares of company stock worth $4,637,612. Corporate insiders own 22.10% of the company’s stock.

ModivCare Price Performance

Shares of MODV stock opened at $17.94 on Friday. ModivCare Inc. has a 12 month low of $11.00 and a 12 month high of $52.33. The company has a market capitalization of $256.25 million, a P/E ratio of -1.39, a P/E/G ratio of 2.76 and a beta of 0.47. The stock has a 50 day moving average of $15.65 and a two-hundred day moving average of $22.03. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 103.63.

ModivCare (NASDAQ:MODV) last issued its earnings results on Wednesday, November 6th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.04). The firm had revenue of $702.04 million during the quarter, compared to the consensus estimate of $711.28 million. ModivCare had a positive return on equity of 26.14% and a negative net margin of 6.57%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the business earned $1.35 earnings per share. As a group, equities analysts expect that ModivCare Inc. will post 0.64 EPS for the current year.

ModivCare 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.