Coliseum Capital Management, L Acquires 125,837 Shares of ModivCare Inc. (NASDAQ:MODV) Stock

ModivCare Inc. (NASDAQ:MODV) Director Coliseum Capital Management, L purchased 125,837 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were acquired at an average cost of $29.11 per share, with a total value of $3,663,115.07. Following the completion of the purchase, the director now directly owns 2,778,372 shares in the company, valued at $80,878,408.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Coliseum Capital Management, L also recently made the following trade(s):

• On Friday, September 15th, Coliseum Capital Management, L purchased 204,379 shares of ModivCare stock. The shares were acquired at an average cost of $35.00 per share, with a total value of $7,153,265.00.
• On Monday, September 11th, Coliseum Capital Management, L bought 133,522 shares of ModivCare stock. The stock was purchased at an average cost of $30.60 per share, with a total value of $4,085,773.20.
• On Thursday, September 7th, Coliseum Capital Management, L bought 110,492 shares of ModivCare stock. The stock was purchased at an average cost of $27.23 per share, with a total value of $3,008,697.16.
• On Thursday, August 10th, Coliseum Capital Management, L bought 205,000 shares of ModivCare stock. The stock was purchased at an average cost of $36.04 per share, with a total value of $7,388,200.00.
• On Tuesday, August 8th, Coliseum Capital Management, L bought 180,923 shares of ModivCare stock. The stock was purchased at an average cost of $35.25 per share, with a total value of $6,377,535.75.

ModivCare Trading Up 4.4 %

MODV stock opened at $35.25 on Friday. The company has a debt-to-equity ratio of 6.08, a current ratio of 0.74 and a quick ratio of 0.74. The company has a fifty day moving average price of $39.37 and a two-hundred day moving average price of $56.31. ModivCare Inc. has a one year low of $26.20 and a one year high of $113.53. The stock has a market cap of $499.85 million, a price-to-earnings ratio of -2.17, a price-to-earnings-growth ratio of 0.64 and a beta of 0.72.

ModivCare (NASDAQ:MODV) last released its quarterly earnings data on Thursday, August 3rd. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.14. ModivCare had a negative net margin of 8.63% and a positive return on equity of 29.63%. The firm had revenue of $701.74 million during the quarter, compared to analysts’ expectations of $650.36 million. Equities analysts anticipate that ModivCare Inc. will post 4.62 EPS for the current year.

Institutional Investors Weigh In On ModivCare

A number of hedge funds and other institutional investors have recently modified their holdings of MODV. Quadrant Capital Group LLC lifted its holdings in shares of ModivCare by 1,228.6% during the fourth quarter. Quadrant Capital Group LLC now owns 279 shares of the company’s stock worth $25,000 after buying an additional 258 shares in the last quarter. State of Wyoming lifted its holdings in shares of ModivCare by 200.5% during the second quarter. State of Wyoming now owns 619 shares of the company’s stock worth $28,000 after buying an additional 413 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of ModivCare by 54.7% during the third quarter. Federated Hermes Inc. now owns 359 shares of the company’s stock worth $36,000 after buying an additional 127 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of ModivCare by 394.2% during the first quarter. Tower Research Capital LLC TRC now owns 425 shares of the company’s stock worth $36,000 after buying an additional 339 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of ModivCare by 54.5% during the second quarter. Royal Bank of Canada now owns 1,443 shares of the company’s stock worth $65,000 after buying an additional 509 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MODV. Barrington Research decreased their target price on shares of ModivCare from $92.00 to $58.00 and set an “outperform” rating for the company in a research note on Monday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of ModivCare from $75.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, August 7th.

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.