ModivCare Inc. (NASDAQ:MODV) Shares Sold by Jane Street Group LLC

Jane Street Group LLC reduced its position in shares of ModivCare Inc. (NASDAQ:MODV) by 47.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,805 shares of the company’s stock after selling 83,649 shares during the period. Jane Street Group LLC’s holdings in ModivCare were worth $1,325,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MODV. Quest Partners LLC increased its holdings in shares of ModivCare by 49.9% in the second 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 in the last quarter. American Century Companies Inc. lifted its stake 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 buying an additional 1,726 shares in the last quarter. Renaissance Technologies LLC boosted its holdings 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. Canada Pension Plan Investment Board purchased a new position in shares of ModivCare in the second quarter worth approximately $60,000. Finally, Sei Investments Co. raised its holdings in shares of ModivCare by 9.2% during the second quarter. Sei Investments Co. now owns 74,956 shares of the company’s stock valued at $1,967,000 after acquiring an additional 6,318 shares during the period.

Insider Activity at ModivCare

In other ModivCare news, major shareholder Q Global Capital Management, L acquired 20,556 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was purchased at an average cost of $14.65 per share, for a total transaction of $301,145.40. Following the completion of the acquisition, the insider now owns 1,520,394 shares of the company’s stock, valued at approximately $22,273,772.10. This trade represents a 1.37 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have acquired 307,242 shares of company stock valued at $4,894,217. 22.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

ModivCare Trading Up 3.2 %

NASDAQ MODV opened at $11.35 on Friday. 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 Inc. has a 1-year low of $10.25 and a 1-year high of $52.33. The firm’s fifty day simple moving average is $15.81 and its 200-day simple moving average is $20.18. The company has a market capitalization of $162.12 million, a PE ratio of -0.88, a price-to-earnings-growth ratio of 2.77 and a beta of 0.52.

ModivCare (NASDAQ:MODV) last issued its earnings results on Wednesday, November 6th. The company reported $0.45 earnings per share 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 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 business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.35 earnings per share. As a group, sell-side analysts anticipate that ModivCare Inc. will post 0.64 earnings per share for the current fiscal 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.