Insider Buying: ModivCare Inc. (NASDAQ:MODV) Major Shareholder Acquires 187,500 Shares of Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Catalyst Fund Lp Ai purchased 187,500 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was bought at an average price of $3.87 per share, with a total value of $725,625.00. Following the completion of the purchase, the insider now owns 2,130,000 shares of the company’s stock, valued at $8,243,100. This trade represents a 9.65 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Catalyst Fund Lp Ai also recently made the following trade(s):

• On Friday, January 31st, Catalyst Fund Lp Ai acquired 187,500 shares of ModivCare stock. The shares were bought at an average price of $4.03 per share, for a total transaction of $755,625.00.

ModivCare Price Performance

Shares of MODV stock opened at $4.24 on Thursday. The business has a fifty day simple moving average of $10.99 and a 200 day simple moving average of $16.60. The company has a market cap of $60.55 million, a P/E ratio of -0.33, a P/E/G ratio of 2.50 and a beta of 0.55. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 103.63. ModivCare Inc. has a twelve month low of $3.64 and a twelve month high of $52.33.

ModivCare (NASDAQ:MODV) last posted its earnings results on Wednesday, November 6th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). ModivCare had a positive return on equity of 26.14% and a negative net margin of 6.57%. The company had revenue of $702.04 million during the quarter, compared to the consensus estimate of $711.28 million. During the same period last year, the company posted $1.35 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts forecast that ModivCare Inc. will post -0.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MODV shares. Lake Street Capital reduced their target price on ModivCare from $30.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Barrington Research reduced their price objective on shares of ModivCare from $25.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 14th. Finally, Stephens restated an “equal weight” rating and issued a $17.00 target price (down from $21.00) on shares of ModivCare in a research report on Friday, January 10th. Three equities 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, ModivCare currently has an average rating of “Hold” and a consensus price target of $18.20.

Hedge Funds Weigh In On ModivCare

A number of institutional investors have recently added to or reduced their stakes in MODV. Wilmington Savings Fund Society FSB acquired a new stake in ModivCare in the third quarter valued at approximately $43,000. FMR LLC lifted its stake in shares of ModivCare by 227.5% in the 3rd 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. SG Americas Securities LLC acquired a new stake in shares of ModivCare during the 3rd quarter valued at $102,000. Quest Partners LLC grew its position in ModivCare by 144.3% during 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 acquired a new position in ModivCare in the 3rd quarter worth about $178,000.

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.