ModivCare Inc. (NASDAQ:MODV) Major Shareholder Acquires $755,625.00 in Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Catalyst Fund Lp Ai purchased 187,500 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average price of $4.03 per share, for a total transaction of $755,625.00. Following the purchase, the insider now owns 1,942,500 shares in the company, valued at $7,828,275. This represents a 10.68 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, February 3rd, Catalyst Fund Lp Ai purchased 187,500 shares of ModivCare stock. The stock was purchased at an average price of $3.87 per share, for a total transaction of $725,625.00.

ModivCare Price Performance

MODV opened at $3.84 on Tuesday. The company has a debt-to-equity ratio of 103.63, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $54.85 million, a P/E ratio of -0.30, a P/E/G ratio of 2.50 and a beta of 0.60. The company’s 50-day simple moving average is $11.52 and its two-hundred day simple moving average is $16.82. ModivCare Inc. has a 52-week low of $3.64 and a 52-week high of $52.33.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on MODV. Stephens reiterated an “equal weight” rating and issued a $17.00 price target (down previously from $21.00) on shares of ModivCare in a research note on Friday, January 10th. Barrington Research lowered 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. Finally, Lake Street Capital lowered their target price on shares of ModivCare from $30.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $18.20.

Hedge Funds Weigh In On ModivCare

Several institutional investors have recently made changes to their positions in MODV. Wilmington Savings Fund Society FSB bought a new position in shares of ModivCare in the 3rd quarter worth approximately $43,000. FMR LLC lifted its stake in shares of ModivCare by 227.5% in the 3rd quarter. FMR LLC now owns 3,825 shares of the company’s stock worth $55,000 after purchasing an additional 2,657 shares during the period. SG Americas Securities LLC purchased a new stake in ModivCare in the 3rd quarter worth approximately $102,000. Quest Partners LLC increased its holdings in ModivCare by 144.3% in the 3rd quarter. Quest Partners LLC now owns 9,779 shares of the company’s stock worth $140,000 after acquiring an additional 5,776 shares in the last quarter. Finally, Repertoire Partners LP purchased a new stake in ModivCare in the 3rd quarter worth approximately $178,000.

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.