ModivCare Inc. (NASDAQ:MODV – Get Free Report) was the recipient of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 888,200 shares, a drop of 12.9% from the October 15th total of 1,020,000 shares. Based on an average daily volume of 255,200 shares, the days-to-cover ratio is currently 3.5 days. Approximately 6.4% of the company’s shares are short sold.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on MODV shares. Deutsche Bank Aktiengesellschaft decreased their target price on ModivCare from $75.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, August 7th. Barrington Research increased their target price on shares of ModivCare from $58.00 to $68.00 and gave the stock an “outperform” rating in a report on Monday, November 6th.
Insider Buying and Selling
Institutional Trading of ModivCare
A number of large investors have recently bought and sold shares of the business. Raymond James & Associates bought a new position in ModivCare in the first quarter valued at approximately $776,000. Citigroup Inc. lifted its position in ModivCare by 8.8% in the 1st quarter. Citigroup Inc. now owns 10,776 shares of the company’s stock valued at $1,243,000 after acquiring an additional 868 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in ModivCare by 24.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,062 shares of the company’s stock valued at $123,000 after acquiring an additional 207 shares in the last quarter. MetLife Investment Management LLC boosted its stake in ModivCare by 60.2% in the 1st quarter. MetLife Investment Management LLC now owns 6,776 shares of the company’s stock worth $782,000 after purchasing an additional 2,547 shares during the period. Finally, Rhumbline Advisers increased its holdings in ModivCare by 1.9% during the 1st quarter. Rhumbline Advisers now owns 36,542 shares of the company’s stock worth $4,217,000 after purchasing an additional 680 shares in the last quarter.
ModivCare Stock Up 3.5 %
Shares of ModivCare stock opened at $42.54 on Wednesday. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.75 and a current ratio of 0.75. The business has a 50-day moving average of $36.38 and a two-hundred day moving average of $42.91. ModivCare has a 1 year low of $26.05 and a 1 year high of $113.53.
ModivCare Company Profile
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.
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