Wilmington Savings Fund Society FSB Invests $43,000 in ModivCare Inc. (NASDAQ:MODV)

Wilmington Savings Fund Society FSB acquired a new position in ModivCare Inc. (NASDAQ:MODV) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,000 shares of the company’s stock, valued at approximately $43,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nisa Investment Advisors LLC grew its position 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 purchasing an additional 1,215 shares during the last quarter. Quest Partners LLC grew its position in ModivCare by 49.9% during the second quarter. Quest Partners LLC now owns 4,003 shares of the company’s stock worth $105,000 after buying an additional 1,332 shares in the last quarter. American Century Companies Inc. grew its position in ModivCare by 9.5% during the second quarter. American Century Companies Inc. now owns 19,916 shares of the company’s stock worth $523,000 after buying an additional 1,726 shares in the last quarter. Renaissance Technologies LLC increased its stake in ModivCare by 11.7% during the second quarter. Renaissance Technologies LLC now owns 304,299 shares of the company’s stock valued at $7,985,000 after acquiring an additional 31,800 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in ModivCare in the 2nd quarter valued at approximately $60,000.

Insider Activity at ModivCare

In related news, major shareholder Q Global Capital Management, L purchased 9,210 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were acquired at an average cost of $17.73 per share, with a total value of $163,293.30. Following the completion of the purchase, the insider now directly owns 1,967,098 shares of the company’s stock, valued at $34,876,647.54. This trade represents a 0.47 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 307,242 shares of company stock valued at $4,894,217 over the last ninety days. 22.10% of the stock is owned by insiders.

ModivCare Stock Performance

ModivCare stock opened at $11.13 on Monday. The firm has a market capitalization of $158.98 million, a P/E ratio of -0.86, a P/E/G ratio of 2.77 and a beta of 0.52. The stock has a fifty day moving average price of $16.34 and a two-hundred day moving average price of $20.73. ModivCare Inc. has a 52-week low of $10.63 and a 52-week high of $52.33. The company has a debt-to-equity ratio of 103.63, a current ratio of 0.80 and a quick ratio of 0.80.

ModivCare (NASDAQ:MODV) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.45 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 business had revenue of $702.04 million for the quarter, compared to the consensus estimate of $711.28 million. During the same quarter last year, the company earned $1.35 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. As a group, analysts anticipate that ModivCare Inc. will post 0.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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