Skylands Capital LLC Sells 61,450 Shares of ModivCare Inc. (NASDAQ:MODV)

Skylands Capital LLC reduced its stake in shares of ModivCare Inc. (NASDAQ:MODV) by 96.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,500 shares of the company’s stock after selling 61,450 shares during the period. Skylands Capital LLC’s holdings in ModivCare were worth $30,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in ModivCare during the third quarter valued at $43,000. FMR LLC lifted its position in shares of ModivCare by 227.5% during the 3rd quarter. FMR LLC now owns 3,825 shares of the company’s stock valued at $55,000 after buying an additional 2,657 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of ModivCare during the 3rd quarter worth $102,000. Quest Partners LLC increased its holdings in ModivCare by 144.3% in the 3rd quarter. Quest Partners LLC now owns 9,779 shares of the company’s stock worth $140,000 after acquiring an additional 5,776 shares during the last quarter. Finally, Repertoire Partners LP bought a new stake in ModivCare in the 3rd quarter valued at about $178,000.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MODV. Stephens reiterated an “equal weight” rating and set a $17.00 target price (down previously from $21.00) on shares of ModivCare in a research report on Friday, January 10th. Barrington Research cut their price objective on shares of ModivCare from $25.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday, January 14th. Finally, 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.

Insiders Place Their Bets

In related news, major shareholder Q Global Capital Management, L acquired 1,583 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were bought at an average cost of $17.75 per share, for a total transaction of $28,098.25. Following the completion of the transaction, the insider now owns 1,921,633 shares in the company, valued at approximately $34,108,985.75. This trade represents a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Catalyst Fund Lp Ai bought 187,500 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were bought at an average price of $3.87 per share, with a total value 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. The trade was a 9.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 393,306 shares of company stock worth $1,786,240 in the last three months. 1.20% of the stock is currently owned by corporate insiders.

ModivCare Trading Down 1.8 %

Shares of ModivCare stock opened at $4.96 on Tuesday. The company’s 50-day moving average price is $7.74 and its 200-day moving average price is $15.02. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 103.63. ModivCare Inc. has a 12-month low of $3.64 and a 12-month high of $33.64. The company has a market cap of $70.88 million, a price-to-earnings ratio of -0.39, a PEG ratio of 3.46 and a beta of 0.55.

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.