ModivCare Inc. (NASDAQ:MODV) is Q Global Advisors LLC’s 9th Largest Position

Q Global Advisors LLC boosted its holdings in ModivCare Inc. (NASDAQ:MODV) by 46.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 53,810 shares of the company’s stock after purchasing an additional 17,137 shares during the quarter. ModivCare makes up 1.8% of Q Global Advisors LLC’s portfolio, making the stock its 9th largest position. Q Global Advisors LLC’s holdings in ModivCare were worth $2,367,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of MODV. Strs Ohio boosted its holdings in shares of ModivCare by 1,400.0% during the 3rd quarter. Strs Ohio now owns 6,000 shares of the company’s stock valued at $189,000 after purchasing an additional 5,600 shares during the last quarter. Skylands Capital LLC bought a new position in shares of ModivCare during the 3rd quarter valued at about $436,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of ModivCare by 27.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,854 shares of the company’s stock valued at $153,000 after purchasing an additional 1,043 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of ModivCare by 388.6% during the 3rd quarter. Signaturefd LLC now owns 816 shares of the company’s stock valued at $26,000 after purchasing an additional 649 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of ModivCare during the 3rd quarter valued at about $1,222,000.

Wall Street Analyst Weigh In

Several research analysts have commented on MODV shares. Deutsche Bank Aktiengesellschaft downgraded shares of ModivCare from a “buy” rating to a “hold” rating and dropped their price objective for the company from $60.00 to $40.00 in a report on Friday, February 23rd. Barrington Research downgraded shares of ModivCare from an “outperform” rating to a “market perform” rating in a report on Monday, February 26th. Finally, Jefferies Financial Group downgraded shares of ModivCare from a “buy” rating to a “hold” rating and lowered their price target for the company from $60.00 to $39.00 in a report on Friday, February 23rd.

ModivCare Trading Down 1.5 %

Shares of NASDAQ:MODV traded down $0.37 during trading on Friday, reaching $23.56. 120,571 shares of the company were exchanged, compared to its average volume of 363,940. The business’s fifty day simple moving average is $27.42 and its 200-day simple moving average is $36.38. The company has a debt-to-equity ratio of 6.30, a current ratio of 0.78 and a quick ratio of 0.78. ModivCare Inc. has a 12-month low of $19.64 and a 12-month high of $70.83. The firm has a market capitalization of $334.55 million, a PE ratio of -1.63, a P/E/G ratio of 0.65 and a beta of 0.44.

ModivCare (NASDAQ:MODV) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.05. The company had revenue of $703.22 million during the quarter, compared to the consensus estimate of $699.34 million. ModivCare had a negative net margin of 7.42% and a positive return on equity of 36.50%. On average, research analysts anticipate that ModivCare Inc. will post 4.22 EPS for the current 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.