Charles Schwab Investment Management Inc. trimmed its stake in ModivCare Inc. (NASDAQ:MODV - Free Report) by 16.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 147,434 shares of the company's stock after selling 29,579 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.04% of ModivCare worth $2,105,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its position in ModivCare by 5,522.7% in the second quarter. Nisa Investment Advisors LLC now owns 1,237 shares of the company's stock worth $32,000 after buying an additional 1,215 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of ModivCare by 3.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 14,511 shares of the company's stock worth $381,000 after acquiring an additional 530 shares during the last quarter. Skylands Capital LLC boosted its stake in shares of ModivCare by 5.3% during the 2nd quarter. Skylands Capital LLC now owns 90,000 shares of the company's stock worth $2,362,000 after purchasing an additional 4,500 shares during the period. Quest Partners LLC grew its holdings in ModivCare by 49.9% during the 2nd 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 during the last quarter. Finally, American Century Companies Inc. raised its position in ModivCare by 9.5% in the 2nd quarter. American Century Companies Inc. now owns 19,916 shares of the company's stock worth $523,000 after purchasing an additional 1,726 shares during the period.
ModivCare Trading Down 10.8 %
Shares of NASDAQ:MODV traded down $1.92 during trading on Monday, reaching $15.90. 164,885 shares of the company were exchanged, compared to its average volume of 248,860. The business's fifty day simple moving average is $16.68 and its 200-day simple moving average is $21.20. 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 Inc. has a 12-month low of $11.00 and a 12-month high of $52.33. The firm has a market capitalization of $227.05 million, a PE ratio of -1.26, a P/E/G ratio of 2.77 and a beta of 0.52.
ModivCare (NASDAQ:MODV - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.45 earnings per share (EPS) 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 the consensus estimate of $711.28 million. ModivCare had a positive return on equity of 26.14% and a negative net margin of 6.57%. The firm's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $1.35 EPS. On average, research analysts anticipate that ModivCare Inc. will post 0.64 EPS for the current year.
Wall Street Analyst Weigh In
Several research analysts have issued reports on MODV shares. Lake Street Capital dropped their target price on ModivCare from $50.00 to $30.00 and set a "buy" rating for the company in a research report on Tuesday, September 17th. Jefferies Financial Group dropped their price objective on ModivCare from $25.00 to $14.00 and set a "hold" rating for the company in a report on Friday, September 13th. Finally, Barrington Research reiterated an "outperform" rating and issued a $25.00 target price on shares of ModivCare in a research note on Monday, November 18th.
Check Out Our Latest Stock Report on MODV
Insider Activity
In other ModivCare news, major shareholder Q Global Capital Management, L acquired 50,748 shares of the company's stock in a transaction dated Wednesday, October 23rd. The shares were purchased at an average cost of $14.16 per share, for a total transaction of $718,591.68. Following the completion of the purchase, the insider now owns 1,475,038 shares in the company, valued at approximately $20,886,538.08. This trade represents a 3.56 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders have bought 307,242 shares of company stock worth $4,894,217. Company insiders own 22.10% of the company's stock.
ModivCare Company Profile
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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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