Barrington Research Lowers ModivCare (NASDAQ:MODV) Price Target to $6.00

ModivCare (NASDAQ:MODV) had its target price lowered by Barrington Research from $10.00 to $6.00 in a research note published on Friday,Benzinga reports. Barrington Research currently has an outperform rating on the stock.

Other equities analysts also recently issued research reports about the stock. Stephens reiterated an “equal weight” rating and issued a $17.00 price target (down previously from $21.00) on shares of ModivCare in a report on Friday, January 10th. Lake Street Capital cut their price target 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.

ModivCare Stock Performance

Shares of ModivCare stock opened at $2.75 on Friday. The firm has a market capitalization of $39.31 million, a P/E ratio of -0.21, a PEG ratio of 3.46 and a beta of 0.59. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 103.63. The company has a 50 day moving average price of $6.49 and a 200 day moving average price of $14.00. ModivCare has a 52 week low of $2.70 and a 52 week high of $33.64.

Insider Transactions at ModivCare

In other news, major shareholder Q Global Capital Management, L acquired 3,837 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were acquired at an average price of $12.61 per share, with a total value of $48,384.57. Following the purchase, the insider now directly owns 1,970,935 shares of the company’s stock, valued at $24,853,490.35. This trade represents a 0.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Catalyst Fund Lp Ai acquired 187,500 shares of the company’s stock in a transaction dated 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 purchase, the insider now directly owns 2,130,000 shares in the company, valued at approximately $8,243,100. This trade represents a 9.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 378,837 shares of company stock valued at $1,529,635 in the last 90 days. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ModivCare

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Neuberger Berman Group LLC lifted its position in shares of ModivCare by 5.4% during the 4th quarter. Neuberger Berman Group LLC now owns 2,069,161 shares of the company’s stock valued at $24,499,000 after buying an additional 106,485 shares in the last quarter. Q Global Advisors LLC lifted its position in shares of ModivCare by 96.3% during the 4th quarter. Q Global Advisors LLC now owns 1,967,098 shares of the company’s stock valued at $23,290,000 after buying an additional 964,998 shares in the last quarter. HG Vora Capital Management LLC purchased a new position in shares of ModivCare during the 3rd quarter valued at approximately $17,136,000. State Street Corp lifted its position in shares of ModivCare by 1.5% during the 3rd quarter. State Street Corp now owns 349,750 shares of the company’s stock valued at $4,994,000 after buying an additional 5,115 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of ModivCare by 9.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 290,629 shares of the company’s stock valued at $3,441,000 after buying an additional 25,680 shares in the last quarter.

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.