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

ModivCare Inc. (NASDAQ:MODV) major shareholder Catalyst Fund Lp Ai acquired 187,500 shares of the stock in a transaction on Friday, January 31st. The shares were acquired at an average cost of $4.03 per share, for a total transaction of $755,625.00. Following the completion of the transaction, the insider now directly owns 1,942,500 shares in the company, valued at $7,828,275. The trade was a 10.68 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own at least 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 Monday, February 3rd, Catalyst Fund Lp Ai purchased 187,500 shares of ModivCare stock. The shares were bought at an average cost of $3.87 per share, for a total transaction of $725,625.00.

ModivCare Stock Down 4.0 %

Shares of NASDAQ:MODV traded down $0.16 during trading on Monday, hitting $3.84. The company’s stock had a trading volume of 645,532 shares, compared to its average volume of 804,197. The company has a market capitalization of $54.84 million, a PE ratio of -0.30, a PEG ratio of 2.50 and a beta of 0.55. 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 quick ratio of 0.80 and a current ratio of 0.80. The stock’s 50-day moving average price is $11.52 and its two-hundred day moving average price is $16.82.

ModivCare (NASDAQ:MODV) last posted its quarterly earnings results 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 business had revenue of $702.04 million during the quarter, compared to the consensus estimate of $711.28 million. ModivCare had a positive return on equity of 26.14% and a negative net margin of 6.57%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.35 earnings per share. As a group, sell-side analysts expect that ModivCare Inc. will post -0.16 EPS for the current year.

Institutional Trading of ModivCare

Several hedge funds and other institutional investors have recently modified their holdings of MODV. Wilmington Savings Fund Society FSB purchased a new stake in shares of ModivCare during the 3rd quarter worth about $43,000. FMR LLC raised 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 valued at $55,000 after acquiring an additional 2,657 shares in the last quarter. SG Americas Securities LLC bought a new stake in ModivCare during the third quarter worth approximately $102,000. Quest Partners LLC grew its position in shares of ModivCare by 144.3% in the third 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 acquired a new position in shares of ModivCare during the 3rd quarter worth about $178,000.

Analyst Upgrades and Downgrades

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

About ModivCare

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.