Nisa Investment Advisors LLC Increases Stock Position in ModivCare Inc. (NASDAQ:MODV)

Nisa Investment Advisors LLC raised its holdings in shares of ModivCare Inc. (NASDAQ:MODV) by 5,522.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,237 shares of the company’s stock after purchasing an additional 1,215 shares during the period. Nisa Investment Advisors LLC’s holdings in ModivCare were worth $32,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MODV. Steamboat Capital Partners LLC bought a new position in shares of ModivCare during the first quarter valued at $495,000. Charles Schwab Investment Management Inc. lifted its stake in ModivCare by 9.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 197,301 shares of the company’s stock valued at $8,679,000 after acquiring an additional 17,220 shares during the period. Skylands Capital LLC lifted its stake in ModivCare by 118.8% during the 4th quarter. Skylands Capital LLC now owns 30,300 shares of the company’s stock valued at $1,333,000 after acquiring an additional 16,450 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of ModivCare by 33.1% during the 4th quarter. Russell Investments Group Ltd. now owns 40,085 shares of the company’s stock valued at $1,763,000 after acquiring an additional 9,965 shares during the last quarter. Finally, Advisors Preferred LLC bought a new stake in shares of ModivCare in the first quarter worth approximately $159,000.

ModivCare Price Performance

Shares of NASDAQ:MODV opened at $26.90 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 103.63. The stock has a market capitalization of $382.28 million, a PE ratio of -1.71, a price-to-earnings-growth ratio of 2.09 and a beta of 0.49. The firm’s 50 day moving average price is $24.65 and its 200-day moving average price is $27.14. ModivCare Inc. has a twelve month low of $18.44 and a twelve month high of $52.33.

ModivCare (NASDAQ:MODV) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.80). ModivCare had a positive return on equity of 27.52% and a negative net margin of 5.80%. The business had revenue of $698.30 million during the quarter, compared to the consensus estimate of $701.00 million. During the same quarter in the previous year, the business posted $1.41 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. Equities research analysts expect that ModivCare Inc. will post 1.72 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MODV. Lake Street Capital upgraded shares of ModivCare from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Monday, May 6th. Barrington Research raised ModivCare from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a report on Friday, August 9th.

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.