Fintel reports that on February 26, 2024, Barrington Research downgraded their outlook for ModivCare (NasdaqGS:MODV) from Outperform to Market Perform .
Analyst Price Forecast Suggests 167.58% Upside
As of February 24, 2024, the average one-year price target for ModivCare is 71.23. The forecasts range from a low of 39.39 to a high of $110.25. The average price target represents an increase of 167.58% from its latest reported closing price of 26.62.
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The projected annual revenue for ModivCare is 2,842MM, an increase of 3.30%. The projected annual non-GAAP EPS is 8.92.
What is the Fund Sentiment?
There are 399 funds or institutions reporting positions in ModivCare. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to MODV is 0.09%, a decrease of 18.28%. Total shares owned by institutions decreased in the last three months by 3.15% to 16,714K shares. 
The put/call ratio of MODV is 0.44, indicating a bullish outlook.
What are Other Shareholders Doing?
Coliseum Capital Management holds 2,983K shares representing 21.03% ownership of the company. No change in the last quarter.
Neuberger Berman Group holds 903K shares representing 6.36% ownership of the company. In it's prior filing, the firm reported owning 1,031K shares, representing a decrease of 14.24%. The firm increased its portfolio allocation in MODV by 16.94% over the last quarter.
Fuller & Thaler Asset Management holds 866K shares representing 6.11% ownership of the company. In it's prior filing, the firm reported owning 906K shares, representing a decrease of 4.60%. The firm increased its portfolio allocation in MODV by 17.57% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 829K shares representing 5.84% ownership of the company. In it's prior filing, the firm reported owning 835K shares, representing a decrease of 0.69%. The firm increased its portfolio allocation in MODV by 19.90% over the last quarter.
UBVLX - Undiscovered Managers Behavioral Value Fund Class L holds 742K shares representing 5.23% ownership of the company. In it's prior filing, the firm reported owning 756K shares, representing a decrease of 1.87%. The firm decreased its portfolio allocation in MODV by 29.95% over the last quarter.
ModivCare Background Information
(This description is provided by the company.)
ModivCare Inc. ('ModivCare') is a technology-enabled healthcare services company, which provides a suite of integrated supportive care solutions for public and private payors and their patients. Its value-based solutions address the social determinants of health (SDoH), enable greater access to care, reduce costs, and improve outcomes. The Company is a leading provider of non-emergency medical transportation (NEMT), personal and home care, and nutritional meal delivery. ModivCare also holds a minority equity interest in CCHN Group Holdings, Inc. and its subsidiaries ('Matrix Medical Network'), which partners with leading health plans and providers nationally, delivering a broad array of assessment and care management services to individuals that improve health outcomes and health plan financial performance.
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