2,300 Shares in ModivCare Inc. (NASDAQ:MODV) Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new stake in ModivCare Inc. (NASDAQ:MODV) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,300 shares of the company’s stock, valued at approximately $60,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of MODV. Renaissance Technologies LLC raised 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 valued at $7,985,000 after buying an additional 31,800 shares during the last quarter. Steamboat Capital Partners LLC bought a new position in shares of ModivCare in the first quarter worth about $495,000. Advisors Preferred LLC acquired a new position in shares of ModivCare during the first quarter worth approximately $159,000. Skylands Capital LLC grew its stake in shares of ModivCare by 5.3% during the second quarter. Skylands Capital LLC now owns 90,000 shares of the company’s stock valued at $2,362,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of ModivCare in the first quarter valued at approximately $100,000.

Analysts Set New Price Targets

A number of brokerages have commented 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 research report on Friday, September 13th. Barrington Research lowered their price objective on ModivCare from $35.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, September 17th. Finally, Lake Street Capital cut their target price 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.

ModivCare Stock Up 15.6 %

NASDAQ:MODV opened at $14.01 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 103.63. ModivCare Inc. has a 12-month low of $11.00 and a 12-month high of $52.33. The stock’s fifty day simple moving average is $22.57 and its 200-day simple moving average is $24.47. The firm has a market capitalization of $199.50 million, a P/E ratio of -0.89, a P/E/G ratio of 1.56 and a beta of 0.52.

ModivCare (NASDAQ:MODV) last posted its earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.80). The company had revenue of $698.30 million for the quarter, compared to analyst estimates of $701.00 million. ModivCare had a positive return on equity of 27.52% and a negative net margin of 5.80%. ModivCare’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.41 earnings per share. Equities research analysts expect that ModivCare Inc. will post 1.06 earnings per share for the current 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.