ModivCare Inc. (NASDAQ:MODV) Major Shareholder Catalyst Fund Lp Ai Purchases 187,500 Shares of Stock

ModivCare Inc. (NASDAQ:MODV) 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 purchased at an average cost of $3.87 per share, for a total transaction of $725,625.00. Following the completion of the transaction, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

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

ModivCare Stock Down 4.0 %

NASDAQ MODV opened at $3.84 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 stock’s 50 day moving average is $11.52 and its two-hundred day moving average is $16.82. The company has a market capitalization of $54.85 million, a price-to-earnings ratio of -0.30, a PEG ratio of 2.50 and a beta of 0.60. ModivCare Inc. has a 1-year low of $3.64 and a 1-year high of $52.33.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in shares of ModivCare in the third quarter valued at approximately $43,000. FMR LLC raised its stake in shares of ModivCare by 227.5% in the third quarter. FMR LLC now owns 3,825 shares of the company’s stock valued at $55,000 after acquiring an additional 2,657 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of ModivCare in the third quarter valued at approximately $102,000. Quest Partners LLC raised its stake 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 acquiring an additional 5,776 shares during the last quarter. Finally, Repertoire Partners LP bought a new position in shares of ModivCare in the third quarter valued at approximately $178,000.

Analysts Set New Price Targets

A number of research firms recently weighed in on MODV. Stephens reissued an “equal weight” rating and set a $17.00 target price (down from $21.00) on shares of ModivCare in a research report on Friday, January 10th. Barrington Research decreased 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. Finally, Lake Street Capital decreased their target price on ModivCare from $30.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $18.20.

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.