ModivCare Inc. (NASDAQ:MODV) Short Interest Update

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

Insider Activity

In other ModivCare news, major shareholder Q Global Capital Management, L acquired 50,748 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were bought at an average price of $14.16 per share, with a total value of $718,591.68. Following the purchase, the insider now directly owns 1,475,038 shares of the company’s stock, valued at approximately $20,886,538.08. This trade represents a 3.56 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have bought 307,242 shares of company stock worth $4,894,217. 22.10% of the stock is owned by company insiders.

Institutional Trading of ModivCare

A number of hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new position in ModivCare in the 3rd quarter valued at approximately $43,000. FMR LLC increased its stake in shares of ModivCare by 227.5% in the third quarter. FMR LLC now owns 3,825 shares of the company’s stock worth $55,000 after acquiring an additional 2,657 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of ModivCare during the second quarter worth $60,000. SG Americas Securities LLC acquired a new stake in ModivCare during the third quarter valued at $102,000. Finally, Quest Partners LLC grew its stake in 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 purchasing an additional 1,332 shares in the last quarter.

ModivCare Trading Up 3.2 %

NASDAQ MODV opened at $11.35 on Monday. The firm’s 50 day moving average price is $15.81 and its two-hundred day moving average price is $20.18. The company has a debt-to-equity ratio of 103.63, a quick ratio of 0.80 and a current ratio of 0.80. ModivCare has a twelve month low of $10.25 and a twelve month high of $52.33. The stock has a market cap of $162.12 million, a price-to-earnings ratio of -0.88, a PEG ratio of 2.77 and a beta of 0.52.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MODV. Lake Street Capital decreased their price target 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 cut their target price on ModivCare from $25.00 to $14.00 and set a “hold” rating on the stock in a research report on Friday, September 13th. Finally, Barrington Research reiterated an “outperform” rating and issued a $25.00 price target on shares of ModivCare in a research report on Monday, November 18th.

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.