Mariner LLC Buys New Holdings in ModivCare Inc. (NASDAQ:MODV)

Mariner LLC acquired a new stake in ModivCare Inc. (NASDAQ:MODV) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,101 shares of the company’s stock, valued at approximately $120,000. Mariner LLC owned about 0.07% of ModivCare as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC boosted its position in ModivCare by 5.4% during the 4th quarter. Neuberger Berman Group LLC now owns 2,069,161 shares of the company’s stock worth $24,499,000 after buying an additional 106,485 shares during the period. Franklin Resources Inc. lifted its position in shares of ModivCare by 67.3% in the 4th quarter. Franklin Resources Inc. now owns 130,367 shares of the company’s stock worth $1,544,000 after purchasing an additional 52,460 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of ModivCare by 49.5% in the 4th quarter. Bank of New York Mellon Corp now owns 55,287 shares of the company’s stock valued at $655,000 after purchasing an additional 18,315 shares during the last quarter. Wolverine Asset Management LLC increased its holdings in ModivCare by 14.8% in the fourth quarter. Wolverine Asset Management LLC now owns 110,172 shares of the company’s stock worth $1,304,000 after purchasing an additional 14,209 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of ModivCare by 249.4% during the 3rd quarter. Barclays PLC now owns 15,235 shares of the company’s stock worth $218,000 after buying an additional 10,875 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts recently commented on MODV shares. Barrington Research decreased their target price on ModivCare from $10.00 to $6.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Stephens decreased their target price on ModivCare from $7.00 to $3.50 and set an “equal weight” rating for the company in a research report on Monday, March 10th. Finally, Lake Street Capital lowered their target price on shares of ModivCare from $30.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, January 13th.

ModivCare Stock Performance

Shares of NASDAQ MODV opened at $1.35 on Friday. The stock has a market cap of $19.37 million, a price-to-earnings ratio of -0.10, a P/E/G ratio of 3.46 and a beta of 0.89. The stock’s 50-day moving average is $1.67 and its 200 day moving average is $8.02. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 103.63. ModivCare Inc. has a 1-year low of $0.96 and a 1-year high of $32.82.

ModivCare (NASDAQ:MODV) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($1.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($1.42). ModivCare had a negative net margin of 6.57% and a positive return on equity of 26.14%. On average, sell-side analysts anticipate that ModivCare Inc. will post -0.16 EPS for the current fiscal year.

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.