ModivCare Inc. (NASDAQ:MODV) has experienced a decrease in the ownership position held by Russell Investments Group Ltd. According to the company’s most recent filing with the Securities and Exchange Commission (SEC), Russell Investments Group Ltd. reduced its stake in ModivCare by 20.5% during the first quarter of this year, selling off 3,346 shares. As a result, Russell Investments Group Ltd. now owns 13,012 shares of ModivCare, representing 0.09% of the company’s total value. The worth of these shares is estimated to be $1,094,000.
On August 31st, 2023, MODV stock opened at $33.48 per share. This healthcare services provider has a market capitalization of $474.78 million. With a price-to-earnings (P/E) ratio of -2.06 and a price-to-earnings-growth (PEG) ratio of 0.58, ModivCare appears to be operating under challenging conditions within the market space.
Analyzing the stock’s performance over recent times reveals significant fluctuations in its value. While it currently sits at $33.48 per share, it had witnessed a high point of $115.30 and a low point of $32.01 over the past twelve months.
In terms of financial ratios, ModivCare Inc.’s current ratio stands at 0.74 and its quick ratio also shows the same figure—indicating that it may face liquidity challenges if faced with sudden financial obligations or demands for payment.
Additionally, ModivCare carries substantial debt as evident from its debt-to-equity ratio measuring at 6.08—a factor that investors need to consider while analyzing investment opportunities in this particular company.
While these numbers present clear challenges for ModivCare Inc., investors should conduct their own thorough analysis based on comprehensive research before making any investment decisions. Market conditions can be volatile, and investors should keep in mind that past performance does not guarantee future results.
ModivCare’s stock price movements and financial ratios provide valuable insights for potential investors to make informed decisions. As the market continues to evolve, regular monitoring of relevant news and updates will prove essential in assessing the company’s overall prospects for growth and sustainability.
Updated on: 31/08/2023
Significant Changes in Hedge Fund and Institutional Investor Holdings of ModivCare Revealed
In recent news, a number of hedge funds and institutional investors have made significant modifications to their holdings of ModivCare. Noteworthy among them is BlackRock Inc., which increased its position in the company by 1.4% during the third quarter. With an additional purchase of 27,931 shares, BlackRock now owns 2,018,242 shares of ModivCare stock valued at $201,180,000.
T. Rowe Price Investment Management Inc. also raised its position in ModivCare during the fourth quarter by 35.0%. This translates into an ownership of 1,134,756 shares worth $101,822,000 after purchasing an additional 294,108 shares.
Furthermore, Fuller & Thaler Asset Management Inc. recently acquired an additional 64,328 shares of ModivCare stock during the same quarter. As a result, their ownership now stands at 920,828 shares with a value of $82,626,000.
Vanguard Group Inc., on the other hand, increased its holding in ModivCare by 1.8% during the third quarter by acquiring an additional 15,515 shares. Currently owning 878,125 shares valued at $87,531,000.
Lastly in this series of modified holdings is Price T Rowe Associates Inc. MD who lifted its position in ModivCare by a mere 0.5% in the second quarter through an acquisition of an extra 4,
196 EPS for this fiscal year.
ModivCare’s quarterly earnings results were announced on Thursday August mmman interestingly realistic observations are noted” that are not currently displayed here) (instead “…interesting findings were made.) chancellor”. These results exceeded analysts’ consensus estimates as the company reported $1.41 EPS for the quarter compared to estimates of $1.The business performed exceptionally well by generating revenues amounting to $701.This surpassed analyst predictions that approximated the company’s revenue to be $650.ModivCare demonstrated a negative net margin of 8.63%, which is a cause for concern. However, it also illustrated a positive return on equity of 29.63%.
Looking ahead, analysts predict that ModivCare Inc., incorporated under NASDAQ as MODV, will post an EPS of 5.Additionally, these analysts have issued their findings in separate reports.Considering TheStreet’s report, shares of ModivCare were downgraded from a “c-” rating to a “d+” rating on Wednesday, Maycccc’s SEC filing report documents the aforementioned transaction.The director purchased 205000 shares at an average price of $36.With this new addition, the director now possesses about 2,
Valued at approximately $75.820771,mmman interestingly realistic observations are noted” that are not currently displayed here) (instead “…observations made during this transaction detail).