ModivCare (NASDAQ:MODV) Shares Up 11.5%

ModivCare Inc. (NASDAQ:MODV)’s share price shot up 11.5% during mid-day trading on Friday . The stock traded as high as $48.00 and last traded at $47.85. 11,623 shares traded hands during trading, a decline of 93% from the average session volume of 164,127 shares. The stock had previously closed at $42.91.

Analyst Ratings Changes

Several brokerages have recently issued reports on MODV. Barrington Research reduced their price target on ModivCare from $92.00 to $58.00 and set an “outperform” rating for the company in a report on Monday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price target on ModivCare from $75.00 to $50.00 and set a “buy” rating for the company in a report on Monday, August 7th.

ModivCare Trading Up 11.0 %

The company has a fifty day moving average of $34.88 and a two-hundred day moving average of $44.39. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 6.08. The stock has a market capitalization of $675.58 million, a price-to-earnings ratio of -3.28, a price-to-earnings-growth ratio of 0.82 and a beta of 0.66.

ModivCare (NASDAQ:MODV) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.27 by $0.14. The company had revenue of $701.74 million for the quarter, compared to the consensus estimate of $650.36 million. ModivCare had a positive return on equity of 29.63% and a negative net margin of 8.63%. On average, research analysts expect that ModivCare Inc. will post 4.62 EPS for the current year.

Insiders Place Their Bets

In other ModivCare news, Director Coliseum Capital Management, L purchased 180,923 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were bought at an average cost of $35.25 per share, with a total value of $6,377,535.75. Following the transaction, the director now directly owns 1,848,825 shares in the company, valued at approximately $65,171,081.25. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Coliseum Capital Management, L acquired 180,923 shares of the stock in a transaction dated Tuesday, August 8th. The shares were acquired at an average cost of $35.25 per share, for a total transaction of $6,377,535.75. Following the completion of the transaction, the director now owns 1,848,825 shares in the company, valued at approximately $65,171,081.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO L Heath Sampson acquired 3,500 shares of the stock in a transaction dated Friday, September 15th. The shares were purchased at an average price of $34.57 per share, for a total transaction of $120,995.00. Following the completion of the transaction, the chief executive officer now owns 27,966 shares of the company’s stock, valued at approximately $966,784.62. The disclosure for this purchase can be found here. Insiders have acquired a total of 963,653 shares of company stock valued at $31,797,581 in the last three months. Company insiders own 10.90% of the company’s stock.

Institutional Trading of ModivCare

A number of institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its position in ModivCare by 1.4% in the third quarter. BlackRock Inc. now owns 2,018,242 shares of the company’s stock valued at $201,180,000 after acquiring an additional 27,931 shares during the period. Coliseum Capital Management LLC grew its position in ModivCare by 19.2% in the second quarter. Coliseum Capital Management LLC now owns 1,667,902 shares of the company’s stock valued at $75,406,000 after acquiring an additional 268,707 shares during the period. T. Rowe Price Investment Management Inc. grew its position in ModivCare by 35.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,134,756 shares of the company’s stock valued at $101,822,000 after acquiring an additional 294,108 shares during the period. Vanguard Group Inc. grew its position in ModivCare by 1.8% in the third quarter. Vanguard Group Inc. now owns 878,125 shares of the company’s stock valued at $87,531,000 after acquiring an additional 15,515 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in ModivCare by 0.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 808,041 shares of the company’s stock valued at $68,279,000 after acquiring an additional 4,361 shares during the period.

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.