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

ModivCare Inc. (NASDAQ:MODV) major shareholder Catalyst Fund Lp Ai acquired 187,500 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were bought at an average cost of $4.03 per share, with a total value of $755,625.00. Following the completion of the acquisition, the insider now directly owns 1,942,500 shares in the company, valued at $7,828,275. The trade was a 10.68 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more 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 Monday, February 3rd, Catalyst Fund Lp Ai purchased 187,500 shares of ModivCare stock. The shares were purchased at an average cost of $3.87 per share, with a total value of $725,625.00.

ModivCare Stock Performance

NASDAQ:MODV opened at $3.84 on Tuesday. The firm has a market cap of $54.85 million, a PE ratio of -0.30, a price-to-earnings-growth ratio of 2.50 and a beta of 0.60. ModivCare Inc. has a fifty-two week low of $3.64 and a fifty-two week high of $52.33. The company has a debt-to-equity ratio of 103.63, a quick ratio of 0.80 and a current ratio of 0.80. The business has a 50 day moving average price of $11.52 and a 200-day moving average price of $16.82.

ModivCare (NASDAQ:MODV) last released its quarterly earnings data 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 for 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%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the company posted $1.35 EPS. Equities research analysts predict that ModivCare Inc. will post -0.16 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Barrington Research dropped their target price on ModivCare from $25.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday, January 14th. Lake Street Capital lowered 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. Finally, Stephens reaffirmed an “equal weight” rating and set a $17.00 target price (down previously from $21.00) on shares of ModivCare in a report on Friday, January 10th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, ModivCare presently has an average rating of “Hold” and a consensus price target of $18.20.

Institutional Trading of ModivCare

Institutional investors have recently made changes to their positions in the stock. K2 Principal Fund L.P. boosted its stake 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 valued at $2,268,000 after purchasing an additional 31,334 shares during the period. FMR LLC boosted its holdings 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 in the last quarter. Barclays PLC increased its position in ModivCare by 249.4% during the 3rd quarter. Barclays PLC now owns 15,235 shares of the company’s stock valued at $218,000 after purchasing an additional 10,875 shares during the period. HG Vora Capital Management LLC purchased a new position in ModivCare during the 3rd quarter valued at $17,136,000. Finally, State Street Corp increased its position in 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 purchasing an additional 5,115 shares during the period.

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.