Coliseum Capital Management LLC Increases Holdings in ModivCare Inc. $MODV

Coliseum Capital Management LLC raised its stake in shares of ModivCare Inc. (NASDAQ:MODV) by 50.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,485,175 shares of the company’s stock after buying an additional 1,502,424 shares during the period. ModivCare comprises approximately 0.5% of Coliseum Capital Management LLC’s holdings, making the stock its 17th largest position. Coliseum Capital Management LLC owned approximately 31.25% of ModivCare worth $5,898,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in ModivCare during the 1st quarter valued at $25,000. Nuveen LLC purchased a new stake in ModivCare during the 1st quarter valued at $41,000. State of Wyoming raised its stake in ModivCare by 412.3% during the 1st quarter. State of Wyoming now owns 66,871 shares of the company’s stock valued at $88,000 after buying an additional 53,819 shares during the last quarter. Mariner LLC bought a new stake in shares of ModivCare during the 4th quarter valued at $120,000. Finally, Wolverine Asset Management LLC grew its position in shares of ModivCare by 18.2% during the 1st quarter. Wolverine Asset Management LLC now owns 130,172 shares of the company’s stock valued at $171,000 after acquiring an additional 20,000 shares during the period.

Analysts Set New Price Targets

Separately, Barrington Research reissued a “market perform” rating on shares of ModivCare in a research report on Monday, May 12th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.38.

ModivCare Price Performance

Shares of MODV stock opened at $0.44 on Thursday. ModivCare Inc. has a 1 year low of $0.40 and a 1 year high of $32.82. The firm has a fifty day moving average price of $2.45 and a 200-day moving average price of $2.30. The company has a market cap of $6.33 million, a price-to-earnings ratio of -0.03 and a beta of 1.27.

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.