Short Interest in ModivCare Inc. (NASDAQ:MODV) Rises By 18.3%

ModivCare Inc. (NASDAQ:MODVGet Free Report) saw a large growth in short interest in December. As of December 15th, there was short interest totalling 644,300 shares, a growth of 18.3% from the November 30th total of 544,500 shares. Currently, 4.6% of the shares of the company are sold short. Based on an average daily volume of 281,200 shares, the days-to-cover ratio is presently 2.3 days.

Insider Transactions at ModivCare

In other ModivCare news, major shareholder Q Global Capital Management, L bought 1,583 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were acquired at an average cost of $17.75 per share, for a total transaction of $28,098.25. Following the transaction, the insider now owns 1,921,633 shares in the company, valued at approximately $34,108,985.75. The trade was a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last quarter, insiders have bought 307,242 shares of company stock valued at $4,894,217. 22.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ModivCare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MODV. Canada Pension Plan Investment Board acquired a new position in shares of ModivCare during the second quarter worth approximately $60,000. Wilmington Savings Fund Society FSB acquired a new position in ModivCare during the 3rd quarter worth $43,000. FMR LLC boosted its position in ModivCare by 227.5% in the 3rd quarter. FMR LLC now owns 3,825 shares of the company’s stock valued at $55,000 after buying an additional 2,657 shares during the last quarter. Quest Partners LLC increased its stake in shares of ModivCare by 49.9% in the 2nd quarter. Quest Partners LLC now owns 4,003 shares of the company’s stock valued at $105,000 after buying an additional 1,332 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of ModivCare during the third quarter valued at $102,000.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MODV. Jefferies Financial Group lowered their price objective on ModivCare from $25.00 to $14.00 and set a “hold” rating on the stock in a research note on Friday, September 13th. Lake Street Capital lowered their price target on ModivCare from $50.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Finally, Barrington Research reissued an “outperform” rating and set a $25.00 price objective on shares of ModivCare in a report on Monday, November 18th.

Get Our Latest Stock Report on MODV

ModivCare Stock Performance

NASDAQ:MODV opened at $11.84 on Wednesday. The stock has a market capitalization of $169.12 million, a P/E ratio of -0.92, a price-to-earnings-growth ratio of 2.77 and a beta of 0.52. ModivCare has a 1 year low of $10.19 and a 1 year high of $52.33. The firm has a 50 day moving average of $15.73 and a 200-day moving average of $20.02. 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:MODVGet Free Report) last announced 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). ModivCare had a positive return on equity of 26.14% and a negative net margin of 6.57%. The business had revenue of $702.04 million for the quarter, compared to the consensus estimate of $711.28 million. During the same quarter in the previous year, the company posted $1.35 EPS. ModivCare’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, sell-side analysts anticipate that ModivCare will post 0.64 EPS for the current fiscal year.

About ModivCare

(Get Free Report)

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.

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