Wolverine Asset Management LLC Purchases 14,209 Shares of ModivCare Inc. (NASDAQ:MODV)

Wolverine Asset Management LLC lifted its position in ModivCare Inc. (NASDAQ:MODV) by 14.8% during the 4th quarter, HoldingsChannel reports. The firm owned 110,172 shares of the company’s stock after buying an additional 14,209 shares during the period. Wolverine Asset Management LLC’s holdings in ModivCare were worth $1,304,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MODV. SG Americas Securities LLC bought a new position in ModivCare in the third quarter valued at $102,000. Quest Partners LLC increased its stake in 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. Connor Clark & Lunn Investment Management Ltd. bought a new position in ModivCare in the third quarter valued at $369,000. FMR LLC increased its stake in 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. Finally, HG Vora Capital Management LLC bought a new position in ModivCare in the third quarter valued at $17,136,000.

ModivCare Stock Performance

ModivCare stock opened at $5.05 on Friday. 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 firm has a 50-day moving average of $7.96 and a 200-day moving average of $15.18. The firm has a market cap of $72.16 million, a P/E ratio of -0.39, a P/E/G ratio of 3.46 and a beta of 0.55. ModivCare Inc. has a 1-year low of $3.64 and a 1-year high of $44.87.

Insider Transactions at ModivCare

In other news, major shareholder Catalyst Fund Lp Ai bought 187,500 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was bought at an average cost of $3.87 per share, for a total transaction of $725,625.00. Following the completion of the acquisition, the insider now owns 2,130,000 shares in the company, valued at approximately $8,243,100. This trade represents a 9.65 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Q Global Capital Management, L sold 262,532 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $6.53, for a total transaction of $1,714,333.96. Following the completion of the sale, the insider now owns 1,221,933 shares of the company’s stock, valued at $7,979,222.49. This trade represents a 17.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 393,306 shares of company stock worth $1,786,240. Company insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MODV. Barrington Research reduced their target price on ModivCare from $25.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 14th. Stephens restated an “equal weight” rating and set a $17.00 price target (down from $21.00) on shares of ModivCare in a research report on Friday, January 10th. Finally, 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. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.