ModivCare Inc. (NASDAQ:MODV) Major Shareholder Buys $725,625.00 in Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Catalyst Fund Lp Ai bought 187,500 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was bought at an average price of $3.87 per share, for a total transaction of $725,625.00. Following the purchase, the insider now owns 2,130,000 shares in the company, valued at approximately $8,243,100. This represents a 9.65 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Catalyst Fund Lp Ai also recently made the following trade(s):

• On Friday, January 31st, Catalyst Fund Lp Ai acquired 187,500 shares of ModivCare stock. The shares were bought at an average cost of $4.03 per share, with a total value of $755,625.00.

ModivCare Stock Down 4.0 %

MODV traded down $0.16 during trading on Monday, reaching $3.84. 645,532 shares of the stock traded hands, compared to its average volume of 804,197. The stock’s 50-day simple moving average is $11.52 and its two-hundred day simple moving average is $16.82. ModivCare Inc. has a fifty-two week low of $3.64 and a fifty-two week high of $52.33. The company has a debt-to-equity ratio of 103.63, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $54.84 million, a price-to-earnings ratio of -0.30, a price-to-earnings-growth ratio of 2.50 and a beta of 0.55.

ModivCare (NASDAQ:MODV) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). The company had revenue of $702.04 million for the quarter, compared to the consensus estimate of $711.28 million. ModivCare had a negative net margin of 6.57% and a positive return on equity of 26.14%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.35 earnings per share. As a group, equities research analysts expect that ModivCare Inc. will post -0.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MODV. Barrington Research cut their target price on shares of ModivCare from $25.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 14th. Stephens reaffirmed an “equal weight” rating and set a $17.00 target price (down previously from $21.00) on shares of ModivCare in a research note on Friday, January 10th. Finally, Lake Street Capital reduced their price target on shares of ModivCare from $30.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $18.20.

Institutional Trading of ModivCare

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wolverine Asset Management LLC boosted its position in shares of ModivCare by 14.8% during the 4th quarter. Wolverine Asset Management LLC now owns 110,172 shares of the company’s stock valued at $1,304,000 after purchasing an additional 14,209 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of ModivCare during the 3rd quarter valued at $43,000. Barclays PLC increased its holdings in ModivCare by 249.4% during the 3rd quarter. Barclays PLC now owns 15,235 shares of the company’s stock worth $218,000 after acquiring an additional 10,875 shares during the period. K2 Principal Fund L.P. grew its position in ModivCare by 24.6% in the third quarter. K2 Principal Fund L.P. now owns 158,820 shares of the company’s stock worth $2,268,000 after acquiring an additional 31,334 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of ModivCare by 1.5% in the third quarter. State Street Corp now owns 349,750 shares of the company’s stock worth $4,994,000 after buying an additional 5,115 shares during the period.

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.