Principal Financial Group Inc. Sells 4,683 Shares of ModivCare Inc. (NASDAQ:MODV)

Principal Financial Group Inc. reduced its holdings in ModivCare Inc. (NASDAQ:MODV) by 6.8% during the first quarter, Holdings Channel.com reports. The fund owned 64,381 shares of the company’s stock after selling 4,683 shares during the quarter. Principal Financial Group Inc.’s holdings in ModivCare were worth $1,510,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MODV. SummerHaven Investment Management LLC grew its holdings in shares of ModivCare by 2.1% during the fourth quarter. SummerHaven Investment Management LLC now owns 13,745 shares of the company’s stock worth $605,000 after purchasing an additional 281 shares in the last quarter. PNC Financial Services Group Inc. lifted its position 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 purchasing an additional 1,156 shares during the last quarter. Graham Capital Management L.P. grew its stake in ModivCare by 23.6% in the 3rd quarter. Graham Capital Management L.P. now owns 11,264 shares of the company’s stock worth $355,000 after buying an additional 2,153 shares in the last quarter. Nisa Investment Advisors LLC bought a new position in shares of ModivCare in the 4th quarter worth $181,000. Finally, SG Americas Securities LLC purchased a new stake in shares of ModivCare during the 4th quarter valued at $187,000.

Analyst Ratings Changes

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

ModivCare Price Performance

MODV traded down $1.76 during midday trading on Friday, hitting $25.44. The stock had a trading volume of 37,787 shares, compared to its average volume of 226,136. ModivCare Inc. has a 1 year low of $19.64 and a 1 year high of $54.64. The company has a debt-to-equity ratio of 7.25, a quick ratio of 0.75 and a current ratio of 0.75. The business has a fifty day moving average of $26.55 and a 200 day moving average of $31.79. The company has a market cap of $361.50 million, a P/E ratio of -1.63, a price-to-earnings-growth ratio of 0.88 and a beta of 0.49.

ModivCare (NASDAQ:MODV) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.27). ModivCare had a positive return on equity of 34.93% and a negative net margin of 8.02%. The business had revenue of $684.45 million during the quarter, compared to the consensus estimate of $666.24 million. As a group, equities analysts forecast that ModivCare Inc. will post 3.22 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.