Silvercrest Asset Management Group LLC Sells 278,942 Shares of ModivCare Inc. (NASDAQ:MODV)

Silvercrest Asset Management Group LLC trimmed its holdings in ModivCare Inc. (NASDAQ:MODV) by 39.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 430,418 shares of the company’s stock after selling 278,942 shares during the period. Silvercrest Asset Management Group LLC owned approximately 3.03% of ModivCare worth $10,093,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its position in shares of ModivCare by 3.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,483 shares of the company’s stock valued at $481,000 after purchasing an additional 608 shares in the last quarter. Bessemer Group Inc. boosted its stake in ModivCare by 46.7% in the 1st quarter. Bessemer Group Inc. now owns 7,145 shares of the company’s stock worth $168,000 after purchasing an additional 2,274 shares during the period. State Board of Administration of Florida Retirement System purchased a new position in ModivCare during the 1st quarter valued at about $91,000. Advisors Preferred LLC purchased a new position in ModivCare during the 1st quarter valued at about $159,000. Finally, Steamboat Capital Partners LLC bought a new stake in shares of ModivCare during the first quarter valued at about $495,000.

Analyst Upgrades and Downgrades

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

ModivCare Price Performance

NASDAQ:MODV opened at $22.97 on Wednesday. ModivCare Inc. has a 52-week low of $19.64 and a 52-week high of $52.33. The stock has a fifty day moving average of $25.95 and a 200 day moving average of $29.38. 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 firm has a market capitalization of $326.40 million, a price-to-earnings ratio of -1.46, a P/E/G ratio of 0.74 and a beta of 0.49.

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

ModivCare 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.