Bank of New York Mellon Corp lessened its stake in ModivCare Inc. (NASDAQ:MODV – Free Report) by 49.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,954 shares of the company’s stock after selling 45,485 shares during the period. Bank of New York Mellon Corp owned 0.33% of ModivCare worth $1,232,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of MODV. Steamboat Capital Partners LLC acquired a new position in shares of ModivCare in the 1st quarter valued at $495,000. Charles Schwab Investment Management Inc. boosted its holdings in ModivCare by 9.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 197,301 shares of the company’s stock worth $8,679,000 after buying an additional 17,220 shares during the last quarter. Advisors Preferred LLC acquired a new position in shares of ModivCare during the 1st quarter worth about $159,000. Central Pacific Bank Trust Division bought a new stake in shares of ModivCare in the 1st quarter valued at about $100,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of ModivCare in the 1st quarter valued at approximately $91,000.
ModivCare Price Performance
Shares of NASDAQ MODV opened at $11.91 on Friday. The company has a fifty day moving average price of $24.08 and a 200 day moving average price of $25.36. The firm has a market cap of $169.60 million, a PE ratio of -0.76, a PEG ratio of 1.42 and a beta of 0.52. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 103.63. ModivCare Inc. has a 1-year low of $11.00 and a 1-year high of $52.33.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on MODV shares. Jefferies Financial Group lowered their target price on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating for the company in a research note on Friday, September 13th. Barrington Research dropped their price objective on ModivCare from $35.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Lake Street Capital reduced their target price on ModivCare from $50.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday.
Check Out Our Latest Report on ModivCare
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.
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