Allspring Global Investments Holdings LLC Sells 1,850 Shares of ModivCare Inc. (NASDAQ:MODV)

Allspring Global Investments Holdings LLC cut its stake in shares of ModivCare Inc. (NASDAQ:MODV) by 38.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,004 shares of the company’s stock after selling 1,850 shares during the period. Allspring Global Investments Holdings LLC’s holdings in ModivCare were worth $132,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC grew its position in shares of ModivCare by 388.6% during the 3rd quarter. Signaturefd LLC now owns 816 shares of the company’s stock valued at $26,000 after purchasing an additional 649 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in ModivCare by 134.6% during the third quarter. PNC Financial Services Group Inc. now owns 2,015 shares of the company’s stock valued at $63,000 after buying an additional 1,156 shares during the period. Nisa Investment Advisors LLC purchased a new position in ModivCare during the fourth quarter worth about $181,000. SG Americas Securities LLC purchased a new position in ModivCare during the fourth quarter worth about $187,000. Finally, Strs Ohio increased its stake in ModivCare by 1,400.0% in the 3rd quarter. Strs Ohio now owns 6,000 shares of the company’s stock worth $189,000 after acquiring an additional 5,600 shares during the last quarter.

ModivCare Stock Performance

Shares of MODV stock opened at $23.56 on Monday. The company’s fifty day moving average price is $27.42 and its 200-day moving average price is $36.41. The stock has a market cap of $334.55 million, a PE ratio of -1.63, a price-to-earnings-growth ratio of 0.64 and a beta of 0.44. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 6.30. ModivCare Inc. has a 12 month low of $19.64 and a 12 month high of $70.83.

ModivCare (NASDAQ:MODV) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.13 by $0.05. The business had revenue of $703.22 million for the quarter, compared to analyst estimates of $699.34 million. ModivCare had a negative net margin of 7.42% and a positive return on equity of 36.50%. On average, equities analysts expect that ModivCare Inc. will post 4.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MODV. Barrington Research downgraded shares of 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 reduced their price objective for the company from $60.00 to $40.00 in a research report on Friday, February 23rd. Finally, Jefferies Financial Group downgraded ModivCare from a “buy” rating to a “hold” rating and dropped their target price for the stock from $60.00 to $39.00 in a research report on Friday, February 23rd.

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.