Russell Investments Group Ltd. Sells 8,572 Shares of ModivCare Inc. (NASDAQ:MODV)

Russell Investments Group Ltd. reduced its holdings in ModivCare Inc. (NASDAQ:MODV – Get Rating) by 34.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 16,358 shares of the company’s stock after selling 8,572 shares during the quarter. Russell Investments Group Ltd.’s holdings in ModivCare were worth $1,468,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Arizona State Retirement System increased its stake in ModivCare by 3.8% in the 4th quarter. Arizona State Retirement System now owns 3,568 shares of the company’s stock valued at $320,000 after buying an additional 132 shares during the last quarter. TD Asset Management Inc increased its stake in ModivCare by 30.1% in the 4th quarter. TD Asset Management Inc now owns 31,982 shares of the company’s stock valued at $2,870,000 after buying an additional 7,400 shares during the last quarter. Rice Hall James & Associates LLC increased its stake in ModivCare by 126.1% in the 4th quarter. Rice Hall James & Associates LLC now owns 55,434 shares of the company’s stock valued at $4,974,000 after buying an additional 30,918 shares during the last quarter. SummerHaven Investment Management LLC increased its stake in ModivCare by 1.5% in the 4th quarter. SummerHaven Investment Management LLC now owns 9,105 shares of the company’s stock valued at $817,000 after buying an additional 132 shares during the last quarter. Finally, Maryland State Retirement & Pension System acquired a new stake in ModivCare in the 4th quarter valued at $469,000.

ModivCare Stock Down 1.5 %

ModivCare stock opened at $51.41 on Wednesday. ModivCare Inc. has a fifty-two week low of $50.16 and a fifty-two week high of $121.54. The firm has a market capitalization of $728.48 million, a PE ratio of -20.08, a P/E/G ratio of 0.84 and a beta of 0.65. The company’s 50-day moving average is $71.87 and its 200-day moving average is $86.17. The company has a debt-to-equity ratio of 2.79, a current ratio of 0.70 and a quick ratio of 0.70.

ModivCare (NASDAQ:MODV – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.63. ModivCare had a negative net margin of 1.39% and a positive return on equity of 26.80%. The business had revenue of $656.69 million for the quarter, compared to analyst estimates of $615.03 million. Sell-side analysts anticipate that ModivCare Inc. will post 6.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MODV. TheStreet lowered shares of ModivCare from a “c-” rating to a “d+” rating in a research note on Wednesday, May 17th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of ModivCare from $120.00 to $75.00 in a research note on Friday, May 5th. Barrington Research lowered their price objective on shares of ModivCare from $143.00 to $92.00 in a research note on Friday, May 5th. Finally, Stephens lowered their price objective on shares of ModivCare from $145.00 to $95.00 in a research note on Friday, May 5th.

Insider Activity at ModivCare

In related news, Director Coliseum Capital Management, L purchased 26,397 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The shares were acquired at an average price of $79.89 per share, for a total transaction of $2,108,856.33. Following the purchase, the director now owns 1,399,195 shares in the company, valued at $111,781,688.55. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have purchased 219,630 shares of company stock worth $12,505,178. Insiders own 10.70% of the company’s stock.

ModivCare Profile

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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.