Barrow Hanley Mewhinney & Strauss LLC Sells 29,089 Shares of ModivCare Inc. (NASDAQ:MODV)

Barrow Hanley Mewhinney & Strauss LLC cut its position in ModivCare Inc. (NASDAQ:MODV) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 650,936 shares of the company’s stock after selling 29,089 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned about 4.56% of ModivCare worth $7,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of MODV. American Century Companies Inc. raised its holdings in shares of ModivCare by 10.7% in the 4th quarter. American Century Companies Inc. now owns 24,892 shares of the company’s stock valued at $295,000 after acquiring an additional 2,403 shares in the last quarter. Quantbot Technologies LP purchased a new stake in ModivCare in the fourth quarter valued at approximately $77,000. Bank of New York Mellon Corp lifted its position in ModivCare by 49.5% during the fourth 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 grew its stake in ModivCare by 14.8% in the 4th quarter. Wolverine Asset Management LLC now owns 110,172 shares of the company’s stock worth $1,304,000 after buying an additional 14,209 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of ModivCare in the 3rd quarter worth $43,000.

Insider Activity

In other news, major shareholder Catalyst Fund Lp Ai purchased 187,500 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were acquired at an average price of $3.87 per share, with a total value of $725,625.00. Following the acquisition, the insider now directly owns 2,130,000 shares in the company, valued at approximately $8,243,100. The trade was a 9.65 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Q Global Capital Management, L sold 262,532 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $6.53, for a total transaction of $1,714,333.96. Following the completion of the transaction, the insider now owns 1,221,933 shares in the company, valued at $7,979,222.49. The trade was a 17.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 378,837 shares of company stock valued at $1,529,635. 1.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MODV. Lake Street Capital dropped their price objective on shares of ModivCare from $30.00 to $10.00 and set a “buy” rating for the company in a report on Monday, January 13th. Stephens cut their price objective on ModivCare from $7.00 to $3.50 and set an “equal weight” rating for the company in a report on Monday, March 10th. Finally, Barrington Research decreased their price objective on ModivCare from $10.00 to $6.00 and set an “outperform” rating on the stock in a report on Friday, March 7th.

ModivCare Price Performance

Shares of NASDAQ:MODV opened at $1.39 on Monday. 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 stock has a market cap of $19.93 million, a PE ratio of -0.11, a PEG ratio of 3.46 and a beta of 0.59. The company’s fifty day moving average is $4.01 and its 200 day moving average is $10.81. ModivCare Inc. has a 52 week low of $1.38 and a 52 week high of $32.82.

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.