The Manufacturers Life Insurance Company trimmed its position in shares of ModivCare Inc. (NASDAQ:MODV – Get Rating) by 17.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 162,599 shares of the company’s stock after selling 34,704 shares during the quarter. The Manufacturers Life Insurance Company owned 1.15% of ModivCare worth $14,590,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. HRT Financial LP purchased a new position in ModivCare during the fourth quarter worth $1,076,000. Nuveen Asset Management LLC boosted its stake in ModivCare by 15.9% during the third quarter. Nuveen Asset Management LLC now owns 113,417 shares of the company’s stock worth $11,306,000 after buying an additional 15,544 shares during the period. SummerHaven Investment Management LLC boosted its stake in ModivCare by 1.5% during the fourth quarter. SummerHaven Investment Management LLC now owns 9,105 shares of the company’s stock worth $817,000 after buying an additional 132 shares during the period. Fuller & Thaler Asset Management Inc. boosted its stake in shares of ModivCare by 7.5% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 920,828 shares of the company’s stock valued at $82,626,000 after purchasing an additional 64,328 shares during the period. Finally, Penn Capital Management Company LLC boosted its stake in shares of ModivCare by 0.9% during the third quarter. Penn Capital Management Company LLC now owns 112,431 shares of the company’s stock valued at $11,218,000 after purchasing an additional 1,055 shares during the period.
Insiders Place Their Bets
In other news, Director Coliseum Capital Management, L bought 108,145 shares of ModivCare stock in a transaction on Monday, May 8th. The stock was acquired at an average cost of $52.95 per share, for a total transaction of $5,726,277.75. Following the completion of the acquisition, the director now owns 1,507,340 shares of the company’s stock, valued at approximately $79,813,653. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders bought 219,630 shares of company stock worth $12,505,178. 8.90% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
ModivCare Stock Down 0.6 %
Shares of ModivCare stock opened at $50.51 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 2.79. The company has a 50-day simple moving average of $63.17 and a two-hundred day simple moving average of $82.87. ModivCare Inc. has a one year low of $43.32 and a one year high of $121.54.
ModivCare (NASDAQ:MODV – Get Rating) last announced its earnings results on Thursday, May 4th. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.03. The business had revenue of $663.77 million during the quarter, compared to the consensus estimate of $621.74 million. ModivCare had a negative net margin of 1.39% and a positive return on equity of 26.80%. On average, equities research analysts forecast that ModivCare Inc. will post 6.25 earnings per share for the current fiscal year.
ModivCare Profile
ModivCare, Inc engages in the provision of technology-enabled services, which offer integrated supportive care solutions for public and private payors and their patients. It operates through the following business segments: Non-Emergency Medical Transportation (NEMT), Personal Care, Remote Patient Monitoring (RPM), and Corporate and Other.
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