Q Global Advisors LLC Raises Stock Holdings in ModivCare Inc. (NASDAQ:MODV)

Q Global Advisors LLC grew its stake in shares of ModivCare Inc. (NASDAQ:MODV) by 46.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,810 shares of the company’s stock after buying an additional 17,137 shares during the period. ModivCare makes up 1.8% of Q Global Advisors LLC’s portfolio, making the stock its 9th biggest position. Q Global Advisors LLC owned approximately 0.38% of ModivCare worth $2,367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC lifted its holdings in shares of ModivCare by 2.1% during the 4th quarter. SummerHaven Investment Management LLC now owns 13,745 shares of the company’s stock valued at $605,000 after purchasing an additional 281 shares in the last quarter. Swiss National Bank raised its position in ModivCare by 1.8% in the 3rd quarter. Swiss National Bank now owns 28,000 shares of the company’s stock valued at $882,000 after buying an additional 500 shares during the last quarter. Signaturefd LLC raised its position in ModivCare by 388.6% in the 3rd quarter. Signaturefd LLC now owns 816 shares of the company’s stock valued at $26,000 after buying an additional 649 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in ModivCare by 27.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,854 shares of the company’s stock valued at $153,000 after buying an additional 1,043 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in ModivCare by 134.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,015 shares of the company’s stock valued at $63,000 after buying an additional 1,156 shares during the last quarter.

ModivCare Stock Performance

Shares of NASDAQ MODV traded down $0.37 during midday trading on Friday, hitting $23.56. 120,571 shares of the company’s stock were exchanged, compared to its average volume of 363,940. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 6.30. ModivCare Inc. has a 12 month low of $19.64 and a 12 month high of $70.83. The company’s 50 day moving average price is $27.42 and its 200 day moving average price is $36.38. The firm has a market capitalization of $334.55 million, a PE ratio of -1.63, a price-to-earnings-growth ratio of 0.65 and a beta of 0.44.

ModivCare (NASDAQ:MODV) last issued its earnings results on Thursday, February 22nd. The company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.13 by $0.05. ModivCare had a positive return on equity of 36.50% and a negative net margin of 7.42%. The company had revenue of $703.22 million during the quarter, compared to the consensus estimate of $699.34 million. As a group, analysts predict that ModivCare Inc. will post 4.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MODV has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered ModivCare from a “buy” rating to a “hold” rating and dropped their target price for the company from $60.00 to $40.00 in a research report on Friday, February 23rd. Barrington Research lowered ModivCare from an “outperform” rating to a “market perform” rating in a research report on Monday, February 26th. Finally, Jefferies Financial Group lowered ModivCare from a “buy” rating to a “hold” rating and lowered their price target for the stock from $60.00 to $39.00 in a research report on Friday, February 23rd.

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.