ModivCare Inc. (NASDAQ:MODV) Shares Bought by Skylands Capital LLC

Skylands Capital LLC raised its holdings in ModivCare Inc. (NASDAQ:MODV) by 118.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 30,300 shares of the company’s stock after acquiring an additional 16,450 shares during the quarter. Skylands Capital LLC’s holdings in ModivCare were worth $1,333,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MODV. Charles Schwab Investment Management Inc. raised its position in shares of ModivCare by 10.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 180,081 shares of the company’s stock valued at $5,674,000 after purchasing an additional 16,403 shares during the last quarter. Kent Lake Capital LLC lifted its stake in shares of ModivCare by 66.7% during the third quarter. Kent Lake Capital LLC now owns 125,000 shares of the company’s stock worth $3,939,000 after buying an additional 50,000 shares during the period. Algert Global LLC grew its holdings in shares of ModivCare by 82.3% during the third quarter. Algert Global LLC now owns 51,000 shares of the company’s stock valued at $1,607,000 after buying an additional 23,020 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of ModivCare during the third quarter valued at $1,450,000. Finally, Nomura Holdings Inc. acquired a new position in shares of ModivCare in the 3rd quarter valued at $1,427,000.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MODV shares. Barrington Research cut ModivCare from an “outperform” rating to a “market perform” rating in a research report on Monday, February 26th. Jefferies Financial Group downgraded ModivCare from a “buy” rating to a “hold” rating and decreased their target price for the stock from $60.00 to $39.00 in a report on Friday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of ModivCare from a “buy” rating to a “hold” rating and cut their price target for the stock from $60.00 to $40.00 in a report on Friday, February 23rd.

ModivCare Stock Performance

Shares of MODV stock opened at $23.60 on Tuesday. ModivCare Inc. has a 52-week low of $19.64 and a 52-week high of $70.25. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 6.30. The stock has a market cap of $335.12 million, a PE ratio of -1.65, a price-to-earnings-growth ratio of 0.64 and a beta of 0.44. The business has a 50-day simple moving average of $26.90 and a 200-day simple moving average of $36.34.

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

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.