Skylands Capital LLC Sells 61,450 Shares of ModivCare Inc. (NASDAQ:MODV)

Skylands Capital LLC cut its position in shares of ModivCare Inc. (NASDAQ:MODV) by 96.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,500 shares of the company’s stock after selling 61,450 shares during the quarter. Skylands Capital LLC’s holdings in ModivCare were worth $30,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in ModivCare in the third quarter worth approximately $43,000. FMR LLC lifted its holdings 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 acquiring an additional 2,657 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of ModivCare in the 3rd quarter valued at $102,000. Quest Partners LLC grew its holdings in shares of ModivCare by 144.3% during the 3rd quarter. Quest Partners LLC now owns 9,779 shares of the company’s stock valued at $140,000 after purchasing an additional 5,776 shares during the last quarter. Finally, Repertoire Partners LP purchased a new position in ModivCare in the 3rd quarter worth $178,000.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Lake Street Capital cut 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. Stephens restated an “equal weight” rating and set a $17.00 target price (down from $21.00) on shares of ModivCare in a report on Friday, January 10th. Finally, Barrington Research decreased their price target on ModivCare from $25.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 14th.

ModivCare Stock Performance

Shares of NASDAQ:MODV opened at $4.96 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 103.63. The company has a 50-day moving average price of $7.74 and a 200-day moving average price of $15.02. The company has a market cap of $70.88 million, a price-to-earnings ratio of -0.39, a price-to-earnings-growth ratio of 3.46 and a beta of 0.55. ModivCare Inc. has a 12 month low of $3.64 and a 12 month high of $33.64.

Insider Activity at ModivCare

In other ModivCare news, major shareholder Q Global Capital Management, L acquired 1,583 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were purchased at an average cost of $17.75 per share, for a total transaction of $28,098.25. Following the transaction, the insider now owns 1,921,633 shares in the company, valued at $34,108,985.75. This represents a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Catalyst Fund Lp Ai bought 187,500 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were acquired at an average price of $3.87 per share, with a total value of $725,625.00. Following the acquisition, the insider now owns 2,130,000 shares of the company’s stock, valued at $8,243,100. This represents a 9.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 393,306 shares of company stock worth $1,786,240 in the last 90 days. Company insiders own 1.20% of the company’s stock.

ModivCare 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.