ModivCare (NASDAQ:MODV) Hits New 52-Week Low at $48.89

Shares of ModivCare Inc. (NASDAQ:MODV – Get Rating) hit a new 52-week low on Wednesday . The stock traded as low as $48.89 and last traded at $49.12, with a volume of 15376 shares traded. The stock had previously closed at $51.41.

Analyst Upgrades and Downgrades

Several research firms recently commented on MODV. Deutsche Bank Aktiengesellschaft reduced their price objective on ModivCare from $120.00 to $75.00 in a research note on Friday, May 5th. Stephens dropped their target price on ModivCare from $145.00 to $95.00 in a report on Friday, May 5th. TheStreet cut ModivCare from a “c-” rating to a “d+” rating in a report on Wednesday, May 17th. Finally, Barrington Research dropped their target price on ModivCare from $143.00 to $92.00 in a report on Friday, May 5th.

ModivCare Price Performance

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 business has a fifty day moving average price of $70.57 and a two-hundred day moving average price of $85.67.

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

Insider Transactions at ModivCare

In other ModivCare news, Director Coliseum Capital Management, L purchased 38,738 shares of the stock in a transaction dated Friday, May 12th. The stock was acquired at an average cost of $55.13 per share, for a total transaction of $2,135,625.94. Following the acquisition, the director now owns 1,667,902 shares in the company, valued at approximately $91,951,437.26. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders acquired 219,630 shares of company stock worth $12,505,178. 8.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ModivCare

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its holdings in ModivCare by 1,228.6% during the 4th quarter. Quadrant Capital Group LLC now owns 279 shares of the company’s stock valued at $25,000 after acquiring an additional 258 shares during the period. Ronald Blue Trust Inc. boosted its holdings in ModivCare by 77.5% during the 4th quarter. Ronald Blue Trust Inc. now owns 316 shares of the company’s stock valued at $32,000 after acquiring an additional 138 shares during the period. Federated Hermes Inc. boosted its holdings in ModivCare by 54.7% during the 3rd quarter. Federated Hermes Inc. now owns 359 shares of the company’s stock valued at $36,000 after acquiring an additional 127 shares during the period. Tower Research Capital LLC TRC boosted its holdings in ModivCare by 394.2% during the 1st quarter. Tower Research Capital LLC TRC now owns 425 shares of the company’s stock valued at $36,000 after acquiring an additional 339 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in ModivCare during the 1st quarter valued at about $78,000.

About ModivCare

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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.