Victory Capital Management Inc. Decreases Position in ModivCare Inc. (NASDAQ:MODV)

Victory Capital Management Inc. cut its position in ModivCare Inc. (NASDAQ:MODV) by 67.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,297 shares of the company’s stock after selling 10,891 shares during the period. Victory Capital Management Inc.’s holdings in ModivCare were worth $239,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. William Blair Investment Management LLC raised its holdings in ModivCare by 0.6% in the first quarter. William Blair Investment Management LLC now owns 278,439 shares of the company’s stock worth $23,411,000 after buying an additional 1,585 shares during the last quarter. New York Life Investment Management LLC raised its holdings in shares of ModivCare by 17.5% during the first quarter. New York Life Investment Management LLC now owns 5,760 shares of the company’s stock valued at $484,000 after purchasing an additional 858 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of ModivCare by 65.1% during the first quarter. New York State Common Retirement Fund now owns 88,906 shares of the company’s stock valued at $7,475,000 after purchasing an additional 35,063 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in shares of ModivCare by 5.6% during the first quarter. Neuberger Berman Group LLC now owns 418,797 shares of the company’s stock valued at $35,212,000 after purchasing an additional 22,162 shares during the last quarter. Finally, Prosight Management LP purchased a new position in shares of ModivCare during the first quarter valued at approximately $1,299,000.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at ModivCare

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

ModivCare Stock Up 11.0 %

Shares of MODV stock opened at $47.64 on Monday. ModivCare Inc. has a 12 month low of $26.05 and a 12 month high of $113.53. The stock has a market cap of $675.58 million, a P/E ratio of -3.28, a P/E/G ratio of 0.82 and a beta of 0.66. 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 company has a 50 day simple moving average of $34.88 and a two-hundred day simple moving average of $44.18.

ModivCare (NASDAQ:MODV) last announced its earnings results on Thursday, August 3rd. The company reported $1.41 EPS for the quarter, beating 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 business had revenue of $701.74 million during the quarter, compared to analysts’ expectations of $650.36 million. On average, research analysts expect that ModivCare Inc. will post 4.62 earnings per share for the current year.

ModivCare 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.