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

ModivCare Inc. (NASDAQ:MODV) major shareholder Catalyst Fund Lp Ai purchased 187,500 shares of ModivCare stock in a transaction that occurred on Monday, February 3rd. The shares were bought at an average cost of $3.87 per share, with a total value of $725,625.00. Following the completion of the transaction, the insider now directly owns 2,130,000 shares of the company’s stock, valued at approximately $8,243,100. The trade was a 9.65 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 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 acquired 187,500 shares of ModivCare stock. The shares were bought at an average price of $4.03 per share, for a total transaction of $755,625.00.

ModivCare Trading Down 11.7 %

Shares of ModivCare stock opened at $4.24 on Thursday. ModivCare Inc. has a 1 year low of $3.64 and a 1 year high of $52.33. The company has a market capitalization of $60.55 million, a price-to-earnings ratio of -0.33, a P/E/G ratio of 2.50 and a beta of 0.55. The business has a fifty day simple moving average of $10.99 and a two-hundred day simple moving average of $16.60. The company has a debt-to-equity ratio of 103.63, a current ratio of 0.80 and a quick ratio of 0.80.

ModivCare (NASDAQ:MODV) last posted its 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). ModivCare had a positive return on equity of 26.14% and a negative net margin of 6.57%. The company had revenue of $702.04 million for the quarter, compared to analyst estimates of $711.28 million. During the same quarter in the prior year, the business posted $1.35 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. Research analysts forecast that ModivCare Inc. will post -0.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MODV. 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 report on Monday, January 13th. Barrington Research lowered their price objective 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, Stephens reaffirmed an “equal weight” rating and issued a $17.00 target price (down from $21.00) on shares of ModivCare in a report on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, ModivCare currently has a consensus rating of “Hold” and a consensus price target of $18.20.

Institutional Investors Weigh In On ModivCare

Hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of ModivCare in the third quarter valued at approximately $43,000. FMR LLC boosted its stake in 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 purchasing an additional 2,657 shares during the period. SG Americas Securities LLC acquired a new position in ModivCare in the 3rd quarter valued at $102,000. Quest Partners LLC increased its position in ModivCare by 144.3% during the 3rd quarter. Quest Partners LLC now owns 9,779 shares of the company’s stock worth $140,000 after buying an additional 5,776 shares during the period. Finally, Repertoire Partners LP acquired a new stake in shares of ModivCare during the third quarter worth $178,000.

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.