Comerica Bank Trims Stake in ModivCare Inc. (NASDAQ:MODV)

Comerica Bank lessened its holdings in ModivCare Inc. (NASDAQ:MODVGet Rating) by 9.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,524 shares of the company’s stock after selling 4,829 shares during the period. Comerica Bank owned 0.32% of ModivCare worth $3,949,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Ophir Asset Management Pty Ltd boosted its position in shares of ModivCare by 117.3% during the 2nd quarter. Ophir Asset Management Pty Ltd now owns 659,380 shares of the company’s stock valued at $14,764,000 after acquiring an additional 355,960 shares during the last quarter. Neuberger Berman Group LLC grew its stake in ModivCare by 81.4% in the 1st quarter. Neuberger Berman Group LLC now owns 330,136 shares of the company’s stock worth $38,094,000 after buying an additional 148,191 shares in the last quarter. Citadel Advisors LLC increased its holdings in shares of ModivCare by 365.7% in the 2nd quarter. Citadel Advisors LLC now owns 81,770 shares of the company’s stock worth $6,909,000 after buying an additional 64,210 shares during the last quarter. Penn Capital Management Company LLC raised its position in shares of ModivCare by 55.6% during the 2nd quarter. Penn Capital Management Company LLC now owns 111,376 shares of the company’s stock valued at $9,411,000 after buying an additional 39,779 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in shares of ModivCare by 14.3% during the 2nd quarter. William Blair Investment Management LLC now owns 293,444 shares of the company’s stock worth $24,796,000 after acquiring an additional 36,634 shares during the last quarter.

Insider Activity

In related news, Director Coliseum Capital Management, L bought 89,033 shares of the stock in a transaction dated Thursday, December 1st. The stock was bought at an average price of $76.09 per share, with a total value of $6,774,520.97. Following the purchase, the director now owns 1,371,088 shares in the company, valued at approximately $104,326,085.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.90% of the company’s stock.

ModivCare Trading Up 1.8 %

Shares of MODV opened at $99.69 on Friday. ModivCare Inc. has a 1 year low of $73.06 and a 1 year high of $130.61. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.76. The stock has a 50 day simple moving average of $88.20 and a two-hundred day simple moving average of $96.01.

ModivCare (NASDAQ:MODVGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.29. The company had revenue of $647.78 million during the quarter, compared to analysts’ expectations of $589.01 million. ModivCare had a negative net margin of 2.32% and a positive return on equity of 27.10%. On average, equities analysts anticipate that ModivCare Inc. will post 6.29 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Barrington Research reduced their target price on ModivCare from $157.00 to $138.00 and set an “outperform” rating on the stock in a research note on Friday, November 4th.

About ModivCare

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ModivCare Inc, a technology-enabled healthcare services company, provides a suite of integrated supportive care solutions for public and private payors and patients. The company operates through four segments: Non-Emergency Medical Transportation (NEMT), Personal Care, Remote Patient Monitoring (RPM), and the Matrix Investment.

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Institutional Ownership by Quarter for ModivCare (NASDAQ:MODV)

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