Barrington Research Lowers ModivCare (NASDAQ:MODV) Price Target to $10.00

ModivCare (NASDAQ:MODV) had its target price cut by Barrington Research from $25.00 to $10.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Barrington Research’s price target points to a potential upside of 73.01% from the company’s previous close.

MODV has been the subject of several other reports. Stephens reaffirmed an “equal weight” rating and issued a $17.00 price target (down from $21.00) on shares of ModivCare in a report on Friday. Lake Street Capital dropped 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. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.20.

ModivCare Trading Down 13.1 %

MODV traded down $0.87 on Tuesday, hitting $5.78. The company had a trading volume of 623,399 shares, compared to its average volume of 727,548. ModivCare has a 1 year low of $5.60 and a 1 year high of $52.33. The company’s fifty day moving average price is $14.88 and its 200 day moving average price is $18.95. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 103.63. The firm has a market cap of $82.56 million, a P/E ratio of -0.45, a PEG ratio of 2.77 and a beta of 0.60.

ModivCare (NASDAQ:MODV) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.04). ModivCare had a positive return on equity of 26.14% and a negative net margin of 6.57%. The company had revenue of $702.04 million for the quarter, compared to analysts’ expectations of $711.28 million. During the same period in the previous year, the business posted $1.35 EPS. The business’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities analysts expect that ModivCare will post 0.64 earnings per share for the current year.

Insider Buying and Selling at ModivCare

In other ModivCare news, major shareholder Q Global Capital Management, L purchased 20,556 shares of the stock in a transaction dated Friday, October 25th. The shares were bought at an average price of $14.65 per share, with a total value of $301,145.40. Following the completion of the transaction, the insider now directly owns 1,520,394 shares in the company, valued at approximately $22,273,772.10. This trade represents a 1.37 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders purchased 311,079 shares of company stock valued at $4,942,602. Corporate insiders own 22.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MODV. Wilmington Savings Fund Society FSB bought a new stake in shares of ModivCare during the third quarter valued at approximately $43,000. FMR LLC increased its stake in ModivCare by 227.5% in the third quarter. FMR LLC now owns 3,825 shares of the company’s stock worth $55,000 after purchasing an additional 2,657 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of ModivCare in the 2nd quarter worth $60,000. SG Americas Securities LLC purchased a new stake in shares of ModivCare during the third quarter valued at $102,000. Finally, Quest Partners LLC lifted its stake in shares of ModivCare by 49.9% in the 2nd quarter. Quest Partners LLC now owns 4,003 shares of the company’s stock valued at $105,000 after purchasing an additional 1,332 shares during the period.

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.