Louisiana State Employees Retirement System Takes Position in ModivCare Inc. (NASDAQ:MODV)

Louisiana State Employees Retirement System purchased a new position in ModivCare Inc. (NASDAQ:MODV) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,200 shares of the company’s stock, valued at approximately $273,000.

A number of other institutional investors also recently bought and sold shares of the stock. Swiss National Bank grew its holdings in shares of ModivCare by 1.8% during the 3rd quarter. Swiss National Bank now owns 28,000 shares of the company’s stock worth $882,000 after acquiring an additional 500 shares during the period. Signaturefd LLC grew its stake in ModivCare by 388.6% in the third quarter. Signaturefd LLC now owns 816 shares of the company’s stock worth $26,000 after purchasing an additional 649 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in ModivCare by 27.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,854 shares of the company’s stock worth $153,000 after purchasing an additional 1,043 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in ModivCare by 134.6% during the third quarter. PNC Financial Services Group Inc. now owns 2,015 shares of the company’s stock valued at $63,000 after buying an additional 1,156 shares during the period. Finally, Graham Capital Management L.P. lifted its position in ModivCare by 23.6% during the third quarter. Graham Capital Management L.P. now owns 11,264 shares of the company’s stock valued at $355,000 after buying an additional 2,153 shares during the period.

Analyst Ratings Changes

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

ModivCare Stock Performance

Shares of MODV stock opened at $22.31 on Thursday. The company has a market capitalization of $316.76 million, a price-to-earnings ratio of -1.55, a price-to-earnings-growth ratio of 0.64 and a beta of 0.44. The company has a debt-to-equity ratio of 6.30, a quick ratio of 0.78 and a current ratio of 0.78. ModivCare Inc. has a one year low of $19.64 and a one year high of $70.25. The company’s 50-day moving average is $26.43 and its 200 day moving average is $36.25.

ModivCare (NASDAQ:MODV) last issued its earnings results on Thursday, February 22nd. The company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.05. The firm had revenue of $703.22 million for the quarter, compared to the consensus estimate of $699.34 million. ModivCare had a negative net margin of 7.42% and a positive return on equity of 36.50%. Sell-side analysts expect that ModivCare Inc. will post 4.22 EPS for the current fiscal 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.