Skylands Capital LLC Buys 16,450 Shares of ModivCare Inc. (NASDAQ:MODV)

Skylands Capital LLC boosted its position in ModivCare Inc. (NASDAQ:MODV) by 118.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,300 shares of the company’s stock after acquiring an additional 16,450 shares during the quarter. Skylands Capital LLC owned 0.21% of ModivCare worth $1,333,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in MODV. Strs Ohio grew its position in ModivCare by 1,400.0% during the third quarter. Strs Ohio now owns 6,000 shares of the company’s stock valued at $189,000 after acquiring an additional 5,600 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in ModivCare by 27.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,854 shares of the company’s stock valued at $153,000 after buying an additional 1,043 shares during the period. Signaturefd LLC grew its stake in shares of ModivCare by 388.6% during the third quarter. Signaturefd LLC now owns 816 shares of the company’s stock valued at $26,000 after buying an additional 649 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of ModivCare in the 3rd quarter valued at about $1,222,000. Finally, Jump Financial LLC boosted its holdings in ModivCare by 40.9% during the 3rd quarter. Jump Financial LLC now owns 18,860 shares of the company’s stock valued at $594,000 after acquiring an additional 5,471 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MODV shares. Barrington Research cut ModivCare from an “outperform” rating to a “market perform” rating in a research note on Monday, February 26th. Deutsche Bank Aktiengesellschaft lowered shares of ModivCare from a “buy” rating to a “hold” rating and lowered their price target for the company from $60.00 to $40.00 in a report on Friday, February 23rd. Finally, Jefferies Financial Group cut shares of ModivCare from a “buy” rating to a “hold” rating and dropped their price target for the company from $60.00 to $39.00 in a research report on Friday, February 23rd.

ModivCare Trading Down 1.0 %

NASDAQ MODV opened at $23.60 on Tuesday. The stock has a market cap of $335.12 million, a P/E ratio of -1.65, a price-to-earnings-growth ratio of 0.64 and a beta of 0.44. ModivCare Inc. has a fifty-two week low of $19.64 and a fifty-two week high of $70.25. The stock has a 50 day simple moving average of $26.90 and a two-hundred day simple moving average of $36.34. The company has a debt-to-equity ratio of 6.30, a quick ratio of 0.78 and a current ratio of 0.78.

ModivCare (NASDAQ:MODV) last announced its earnings results on Thursday, February 22nd. The company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.05. The company had revenue of $703.22 million during the quarter, compared to the consensus estimate of $699.34 million. ModivCare had a positive return on equity of 36.50% and a negative net margin of 7.42%. On average, analysts forecast that ModivCare Inc. will post 4.22 earnings per share for the current year.

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.