Allspring Global Investments Holdings LLC Increases Holdings in ModivCare Inc. (NASDAQ:MODV)

Allspring Global Investments Holdings LLC lifted its position in shares of ModivCare Inc. (NASDAQ:MODV) by 60.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,811 shares of the company’s stock after buying an additional 1,438 shares during the period. Allspring Global Investments Holdings LLC’s holdings in ModivCare were worth $172,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MODV. Raymond James & Associates purchased a new position in shares of ModivCare during the 1st quarter valued at about $776,000. Citigroup Inc. grew its position in ModivCare by 8.8% during the 1st quarter. Citigroup Inc. now owns 10,776 shares of the company’s stock worth $1,243,000 after acquiring an additional 868 shares during the last quarter. PNC Financial Services Group Inc. grew its position in ModivCare by 24.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,062 shares of the company’s stock worth $123,000 after acquiring an additional 207 shares during the last quarter. MetLife Investment Management LLC grew its position in ModivCare by 60.2% during the 1st quarter. MetLife Investment Management LLC now owns 6,776 shares of the company’s stock worth $782,000 after acquiring an additional 2,547 shares during the last quarter. Finally, Rhumbline Advisers grew its position in ModivCare by 1.9% during the 1st quarter. Rhumbline Advisers now owns 36,542 shares of the company’s stock worth $4,217,000 after acquiring an additional 680 shares during the last quarter.

ModivCare Price Performance

Shares of MODV stock opened at $41.12 on Tuesday. The firm has a market cap of $583.49 million, a P/E ratio of -2.83, a P/E/G ratio of 0.98 and a beta of 0.66. ModivCare Inc. has a fifty-two week low of $26.05 and a fifty-two week high of $113.53. The business’s 50 day moving average price is $36.11 and its 200-day moving average price is $43.06. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.75 and a current ratio of 0.75.

Insider Transactions at ModivCare

In other ModivCare news, CEO L Heath Sampson acquired 3,500 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were purchased at an average cost of $34.57 per share, for a total transaction of $120,995.00. Following the transaction, the chief executive officer now owns 27,966 shares in the company, valued at $966,784.62. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Coliseum Capital Management, L purchased 204,379 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were bought at an average cost of $35.00 per share, for a total transaction of $7,153,265.00. Following the completion of the transaction, the director now directly owns 2,982,751 shares of the company’s stock, valued at approximately $104,396,285. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO L Heath Sampson purchased 3,500 shares of the company’s stock in a transaction that occurred on 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 directly owns 27,966 shares of the company’s stock, valued at $966,784.62. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 577,730 shares of company stock worth $18,031,845. 10.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MODV. Deutsche Bank Aktiengesellschaft reduced their price target on ModivCare from $75.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, August 7th. Barrington Research raised their price target on ModivCare from $58.00 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, November 6th.

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.