Wedge Capital Management LLP NC Reduces Position in ModivCare Inc. (NASDAQ:MODV)


Wedge Capital Management LLP NC reduced its position in ModivCare Inc. (NASDAQ:MODV – Get Rating) by 1.3% in the first quarter, according to the company in its latest filing with the Securities and Exchange Commission (SEC). The institutional investor held 114,296 shares of the company after selling 1,520 shares during the period. Wedge Capital Management LLP NC owned approximately 0.59% of ModivCare worth $13,189,000 when it was last filed with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently changed their positions in the company. Koshinski Asset Management Inc. bought a new position in ModivCare during the fourth quarter worth $37,000. City State Bank bought a new position in ModivCare during the fourth quarter worth $78,000. Maverick Capital Ltd. bought a new position in ModivCare during the fourth quarter worth $135,000. Great Lakes Advisors LLC bought a new position in ModivCare during the fourth quarter worth $259,000. Finally, Everence Capital Management Inc. acquired a new position in ModivCare during the first quarter worth $246,000. 73.85% of the shares are held by hedge funds and other institutional investors.

Several equity analysts have recently weighed in on MODV shares. Deutsche Bank Aktiengesellschaft cut its price target on ModivCare shares from $150.00 to $130.00 in a Friday, May 6 research note. Barrington Research lowered its price target on ModivCare shares from $190.00 to $155.00 and set an “outperform” rating for the company in a Monday, Feb. 28 research report.

ModivCare stock opened at $88.00 on Friday. The company has a 50-day moving average price of $100.05 and a 200-day moving average price of $113.76. The company has a market capitalization of $1.24 billion, a PE ratio of -48.62, a growth price-earnings ratio of 1.03 and a beta of 0.74. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt ratio of 2.59. ModivCare Inc. has a 12 month minimum of $80.55 and a 12 month maximum of $211.94.

ModivCare (NASDAQ:MODV – Get Rating) last released its quarterly results on Thursday, May 5. The company reported EPS of $1.57 for the quarter, missing the consensus estimate of $1.58 per ($0.01). The company posted revenue of $574.50 million in the quarter, compared to $565.77 million expected by analysts. ModivCare has a positive return on equity of 26.94% and a negative net margin of 1.18%. The company’s quarterly revenue increased 26.7% year over year. During the same period of the previous year, the company achieved EPS of $1.92. As a group, sell-side analysts expect ModivCare Inc. to post earnings per share of 6.71 for the current fiscal year.

About ModivCare (Get a rating)

ModivCare Inc, a technology-enabled healthcare services company, provides a suite of integrated supportive care solutions for public and private payers and patients. The Company operates through four segments: non-emergency medical transport (NEMT), personal care, remote patient monitoring (RPM) and matrix investing.

See also

Institutional ownership by quarter for ModivCare (NASDAQ:MODV)



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