Nisa Investment Advisors LLC Takes Position in ModivCare Inc. (NASDAQ:MODV)

Nisa Investment Advisors LLC acquired a new position in shares of ModivCare Inc. (NASDAQ:MODV) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,122 shares of the company’s stock, valued at approximately $181,000.

Several other hedge funds and other institutional investors have also modified their holdings of MODV. Raymond James & Associates purchased a new stake in shares of ModivCare during the first quarter worth $776,000. Citigroup Inc. raised its holdings in shares of ModivCare by 8.8% during the first quarter. Citigroup Inc. now owns 10,776 shares of the company’s stock worth $1,243,000 after acquiring an additional 868 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of ModivCare by 24.2% during the first 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 in the last quarter. MetLife Investment Management LLC raised its holdings in shares of ModivCare by 60.2% during the first 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 in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of ModivCare by 1.9% during the first quarter. Rhumbline Advisers now owns 36,542 shares of the company’s stock worth $4,217,000 after acquiring an additional 680 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MODV. Barrington Research lowered ModivCare from an “outperform” rating to a “market perform” rating in a report on Monday, February 26th. Deutsche Bank Aktiengesellschaft lowered ModivCare from a “buy” rating to a “hold” rating and cut their target price for the company from $60.00 to $40.00 in a report on Friday, February 23rd. Finally, Jefferies Financial Group lowered ModivCare from a “buy” rating to a “hold” rating and cut their target price for the company from $60.00 to $39.00 in a report on Friday, February 23rd.

ModivCare Price Performance

NASDAQ MODV opened at $21.26 on Friday. The firm has a market cap of $301.89 million, a P/E ratio of -1.47, a price-to-earnings-growth ratio of 0.56 and a beta of 0.44. The stock’s 50-day moving average is $29.96 and its two-hundred day moving average is $36.58. ModivCare Inc. has a fifty-two week low of $19.64 and a fifty-two week high of $75.54. The company has a debt-to-equity ratio of 6.30, a current ratio of 0.78 and a quick ratio of 0.78.

ModivCare (NASDAQ:MODV) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.05. The company had revenue of $703.22 million for 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 anticipate that ModivCare Inc. will post 4.22 earnings per share for the current fiscal year.

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.