ModivCare Inc (NASDAQ: MODV) Could See A Rise In Prices Shortly.

In the last trading session, 2.89 million shares of the ModivCare Inc (NASDAQ:MODV) were traded, and its beta was 0.44. Most recently the company’s share price was $21.53, and it changed around -$1.0 or -4.44% from the last close, which brings the market valuation of the company to $305.73M. MODV currently trades at a discount to its 52-week high of $86.55, offering almost -302.0% off that amount. The share price’s 52-week low was $21.72, which indicates that the current value has fallen by an impressive -0.88% since then. We note from ModivCare Inc’s average daily trading volume that its 10-day average is 0.58 million shares, with the 3-month average coming to 220.88K.

ModivCare Inc (NASDAQ:MODV) trade information

Instantly MODV has showed a red trend with a performance of -4.44% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -51.06% year-to-date, but still down -8.66% over the last five days. On the other hand, ModivCare Inc (NASDAQ:MODV) is -23.95% down in the 30-day period. We can see from the shorts that 1.14 million shares have been sold at a short interest cover period of 3.57 day(s).

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The consensus price target as assigned by Wall Street analysts is $33, which translates to bulls needing to increase their stock price by 34.76% from its current value. Analyst projections state that MODV is forecast to be at a low of $16 and a high of $50.

ModivCare Inc (MODV) estimates and forecasts

ModivCare Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -31.67 percent over the past six months and at a -13.04% annual growth rate that is well below the industry average of 13.50%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -86.60% in revenue this quarter, and will report a decrease of -36.10% in the next quarter. The year-over-year growth rate is expected to be 1.60%, up from the previous year.

Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $663.87 million in revenue for the current quarter. 6 analysts expect ModivCare Inc to make $694.22 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $662.31 million and $653.86 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 0.20%. Forecasts for the next quarter put sales growth at 6.20%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -49.24%. ModivCare Inc earnings are expected to increase by -22.80% in 2024, but the outlook is positive 6.99% per year for the next five years.

MODV Dividends

ModivCare Inc’s next quarterly earnings report is expected to be released in May.

ModivCare Inc (NASDAQ:MODV)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 1.91% of ModivCare Inc shares, and 105.90% of them are in the hands of institutional investors. The stock currently has a share float of 107.96%. ModivCare Inc stock is held by 220 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 14.51% of the shares, which is about 2.06 million shares worth $93.01 million.

Coliseum Capital Management, Llc, with 11.76% or 1.67 million shares worth $75.41 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

iShares Core S&P Smallcap ETF and Undiscovered Managers Behavioral Value Fund were the top two Mutual Funds as of Sep 29, 2023. The former held 0.83 million shares worth $26.29 million, making up 5.88% of all outstanding shares. On the other hand, Undiscovered Managers Behavioral Value Fund held roughly 0.76 million shares worth around $34.19 million, which represents about 5.33% of the total shares outstanding.