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

ModivCare Inc. (NASDAQ:MODV) major shareholder Catalyst Fund Lp Ai acquired 187,500 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were bought at an average cost of $3.87 per share, for a total transaction of $725,625.00. Following the transaction, the insider now directly owns 2,130,000 shares of the company’s stock, valued at approximately $8,243,100. This trade represents a 9.65 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock 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 purchased 187,500 shares of ModivCare stock. The stock was bought at an average cost of $4.03 per share, for a total transaction of $755,625.00.

ModivCare Stock Up 25.0 %

Shares of NASDAQ:MODV opened at $4.80 on Wednesday. The firm has a 50 day simple moving average of $11.27 and a 200-day simple moving average of $16.69. ModivCare Inc. has a twelve month low of $3.64 and a twelve month high of $52.33. 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 market capitalization of $68.54 million, a PE ratio of -0.37, a P/E/G ratio of 2.50 and a beta of 0.55.

ModivCare (NASDAQ:MODV) last announced its quarterly earnings results 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). The company had revenue of $702.04 million during the quarter, compared to analysts’ expectations of $711.28 million. ModivCare had a negative net margin of 6.57% and a positive return on equity of 26.14%. ModivCare’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm earned $1.35 earnings per share. On average, equities analysts predict that ModivCare Inc. will post -0.16 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on MODV shares. Barrington Research cut 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. Lake Street Capital dropped their price objective on shares of ModivCare from $30.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Stephens reaffirmed an “equal weight” rating and set a $17.00 price objective (down from $21.00) on shares of ModivCare in a research report on Friday, January 10th. 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 data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $18.20.

Institutional Trading of ModivCare

Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in ModivCare by 49.5% in the 4th quarter. Bank of New York Mellon Corp now owns 55,287 shares of the company’s stock valued at $655,000 after purchasing an additional 18,315 shares during the last quarter. Wolverine Asset Management LLC increased its stake in ModivCare by 14.8% in the fourth quarter. Wolverine Asset Management LLC now owns 110,172 shares of the company’s stock valued at $1,304,000 after purchasing an additional 14,209 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of ModivCare in the third quarter valued at about $43,000. Barclays PLC boosted its stake in shares of ModivCare by 249.4% during the third quarter. Barclays PLC now owns 15,235 shares of the company’s stock worth $218,000 after buying an additional 10,875 shares during the period. Finally, K2 Principal Fund L.P. grew its holdings in shares of ModivCare by 24.6% during the third quarter. K2 Principal Fund L.P. now owns 158,820 shares of the company’s stock worth $2,268,000 after buying an additional 31,334 shares during the last quarter.

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.