Barclays PLC Acquires 10,875 Shares of ModivCare Inc. (NASDAQ:MODV)

Barclays PLC raised its position in shares of ModivCare Inc. (NASDAQ:MODV) by 249.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,235 shares of the company’s stock after acquiring an additional 10,875 shares during the period. Barclays PLC’s holdings in ModivCare were worth $218,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. HG Vora Capital Management LLC purchased a new stake in shares of ModivCare during the third quarter valued at $17,136,000. Millennium Management LLC lifted its stake in ModivCare by 83.2% in the second quarter. Millennium Management LLC now owns 841,295 shares of the company’s stock worth $22,076,000 after acquiring an additional 381,995 shares during the period. K2 Principal Fund L.P. purchased a new stake in ModivCare in the second quarter worth about $3,345,000. AYAL Capital Advisors Ltd lifted its stake in ModivCare by 42.1% in the second quarter. AYAL Capital Advisors Ltd now owns 262,904 shares of the company’s stock worth $6,899,000 after acquiring an additional 77,930 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in 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 purchasing an additional 31,800 shares in the last quarter.

ModivCare Stock Performance

Shares of MODV stock opened at $11.67 on Tuesday. The stock’s fifty day moving average is $15.47 and its two-hundred day moving average is $19.49. The company has a debt-to-equity ratio of 103.63, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $166.69 million, a P/E ratio of -0.91, a PEG ratio of 2.77 and a beta of 0.60. ModivCare Inc. has a fifty-two week low of $10.19 and a fifty-two week high of $52.33.

ModivCare (NASDAQ:MODV) last issued 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 positive return on equity of 26.14% and a negative net margin of 6.57%. The company 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 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year. Research analysts expect that ModivCare Inc. will post 0.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MODV shares. Barrington Research restated an “outperform” rating and set a $25.00 price objective on shares of ModivCare in a report on Monday, November 18th. 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 lowered their price objective on ModivCare from $50.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th.

Insider Buying and Selling

In other news, major shareholder Q Global Capital Management, L bought 1,583 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was bought at an average cost of $17.75 per share, for a total transaction of $28,098.25. Following the acquisition, the insider now directly owns 1,921,633 shares of the company’s stock, valued at $34,108,985.75. The trade was a 0.08 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders acquired 307,242 shares of company stock valued at $4,894,217. 22.10% of the stock is currently owned by insiders.

ModivCare Company 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.