Barclays PLC grew its position in shares of ModivCare Inc. (NASDAQ:MODV – Free Report) by 249.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,235 shares of the company’s stock after acquiring an additional 10,875 shares during the period. Barclays PLC owned about 0.11% of ModivCare worth $218,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. AYAL Capital Advisors Ltd raised its stake in shares of ModivCare by 42.1% during the second quarter. AYAL Capital Advisors Ltd now owns 262,904 shares of the company’s stock valued at $6,899,000 after acquiring an additional 77,930 shares during the last quarter. K2 Principal Fund L.P. bought a new position in shares of ModivCare during the second quarter valued at about $3,345,000. FMR LLC raised its stake in shares of ModivCare by 227.5% during the third quarter. FMR LLC now owns 3,825 shares of the company’s stock valued at $55,000 after acquiring an additional 2,657 shares during the last quarter. American Century Companies Inc. raised its stake in shares of 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 acquiring an additional 1,726 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of ModivCare by 83.2% during the second quarter. Millennium Management LLC now owns 841,295 shares of the company’s stock valued at $22,076,000 after acquiring an additional 381,995 shares during the last quarter.
Insider Buying and Selling at ModivCare
In other news, major shareholder Q Global Capital Management, L sold 262,532 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $6.53, for a total transaction of $1,714,333.96. Following the sale, the insider now owns 1,221,933 shares in the company, valued at $7,979,222.49. This represents a 17.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders acquired 260,331 shares of company stock valued at $4,224,010. Corporate insiders own 22.10% of the company’s stock.
ModivCare Price Performance
ModivCare (NASDAQ:MODV – Get Free Report) last announced its 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). ModivCare had a negative net margin of 6.57% and a positive return on equity of 26.14%. The business had revenue of $702.04 million for the quarter, compared to the consensus estimate of $711.28 million. During the same period in the prior year, the business posted $1.35 EPS. ModivCare’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts expect that ModivCare Inc. will post -0.36 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on MODV shares. Barrington Research decreased their price target on shares of ModivCare from $25.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, January 14th. Lake Street Capital decreased their price target on shares of ModivCare from $30.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Stephens reissued an “equal weight” rating and issued a $17.00 price target (down from $21.00) on shares of ModivCare in a research note on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, ModivCare currently has an average rating of “Hold” and a consensus target price of $18.20.
Check Out Our Latest Report on MODV
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.
Featured Stories
- Five stocks we like better than ModivCare
- What Investors Need to Know to Beat the Market
- SAP’s Strong Momentum: A Bullish Setup for Investors
- Following Congress Stock Trades
- BlackRock Breaks Records: Why the Stock Still Has Room to Run
- Industrial Products Stocks Investing
- Duke vs. NRG: Which Energy Stock Will Power Higher Gains?
Want to see what other hedge funds are holding MODV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ModivCare Inc. (NASDAQ:MODV – Free Report).
Receive News & Ratings for ModivCare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ModivCare and related companies with MarketBeat.com's FREE daily email newsletter.