ModivCare Inc. (NASDAQ:MODV) Shares Sold by Quadrant Capital Group LLC

Quadrant Capital Group LLC reduced its position in shares of ModivCare Inc. (NASDAQ:MODV) by 22.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,024 shares of the company’s stock after selling 598 shares during the quarter. Quadrant Capital Group LLC’s holdings in ModivCare were worth $89,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Walleye Capital LLC purchased a new stake in shares of ModivCare during the third quarter valued at $1,450,000. Algert Global LLC lifted its stake in ModivCare by 82.3% during the third quarter. Algert Global LLC now owns 51,000 shares of the company’s stock valued at $1,607,000 after buying an additional 23,020 shares in the last quarter. Swiss National Bank boosted its holdings in shares of ModivCare by 1.8% in the third quarter. Swiss National Bank now owns 28,000 shares of the company’s stock worth $882,000 after buying an additional 500 shares during the period. Yousif Capital Management LLC purchased a new position in shares of ModivCare in the fourth quarter worth approximately $273,000. Finally, Graham Capital Management L.P. raised its holdings in shares of ModivCare by 23.6% during the third quarter. Graham Capital Management L.P. now owns 11,264 shares of the company’s stock valued at $355,000 after acquiring an additional 2,153 shares during the period.

Wall Street Analyst Weigh In

Several research firms have weighed in on MODV. Lake Street Capital raised ModivCare from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Monday, May 6th. Jefferies Financial Group cut shares of ModivCare from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $60.00 to $39.00 in a report on Friday, February 23rd. Deutsche Bank Aktiengesellschaft lowered ModivCare from a “buy” rating to a “hold” rating and cut their target price for the company from $60.00 to $40.00 in a report on Friday, February 23rd. Finally, Barrington Research lowered ModivCare from an “outperform” rating to a “market perform” rating in a report on Monday, February 26th.

ModivCare Price Performance

Shares of MODV opened at $27.58 on Friday. The business’s 50 day simple moving average is $24.73 and its 200-day simple moving average is $34.45. The company has a debt-to-equity ratio of 7.25, a current ratio of 0.75 and a quick ratio of 0.75. ModivCare Inc. has a one year low of $19.64 and a one year high of $54.64.

ModivCare (NASDAQ:MODV) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.27). The company had revenue of $684.45 million during the quarter, compared to the consensus estimate of $666.24 million. ModivCare had a positive return on equity of 34.93% and a negative net margin of 8.02%. As a group, equities analysts anticipate that ModivCare Inc. will post 3.22 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.