Silvercrest Asset Management Group LLC Trims Stock Position in ModivCare Inc. (NASDAQ:MODV)

Silvercrest Asset Management Group LLC decreased its holdings in ModivCare Inc. (NASDAQ:MODV) by 39.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 430,418 shares of the company’s stock after selling 278,942 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in ModivCare were worth $10,093,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System bought a new position in ModivCare in the first quarter worth approximately $91,000. Central Pacific Bank Trust Division bought a new position in ModivCare in the 1st quarter worth $100,000. Advisors Preferred LLC purchased a new position in ModivCare during the first quarter valued at $159,000. Bessemer Group Inc. grew its holdings in ModivCare by 46.7% during the first quarter. Bessemer Group Inc. now owns 7,145 shares of the company’s stock valued at $168,000 after purchasing an additional 2,274 shares during the period. Finally, Nisa Investment Advisors LLC purchased a new position in shares of ModivCare during the 4th quarter valued at about $181,000.

Analysts Set New Price Targets

Separately, Lake Street Capital upgraded shares of ModivCare from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Monday, May 6th.

ModivCare Stock Up 0.1 %

NASDAQ MODV opened at $22.97 on Wednesday. ModivCare Inc. has a 12 month low of $19.64 and a 12 month high of $52.33. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 7.25. The stock has a market cap of $326.40 million, a PE ratio of -1.46, a P/E/G ratio of 0.74 and a beta of 0.49. The stock’s 50 day moving average is $25.95 and its 200 day moving average is $29.38.

ModivCare (NASDAQ:MODV) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.27). ModivCare had a negative net margin of 8.02% and a positive return on equity of 34.93%. The company had revenue of $684.45 million for the quarter, compared to the consensus estimate of $666.24 million. Research analysts predict that ModivCare Inc. will post 3.22 EPS for the current fiscal 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.