Catalyst Fund Lp Ai Buys 187,500 Shares of ModivCare Inc. (NASDAQ:MODV) Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Catalyst Fund Lp Ai purchased 187,500 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was bought at an average price of $3.87 per share, for a total transaction of $725,625.00. Following the completion of the acquisition, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% 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 Friday, January 31st, Catalyst Fund Lp Ai acquired 187,500 shares of ModivCare stock. The stock was purchased at an average cost of $4.03 per share, for a total transaction of $755,625.00.

ModivCare Price Performance

Shares of ModivCare stock opened at $4.80 on Wednesday. ModivCare Inc. has a 12 month low of $3.64 and a 12 month high of $52.33. The company has a debt-to-equity ratio of 103.63, a current ratio of 0.80 and a quick ratio of 0.80. The business has a 50 day simple moving average of $11.27 and a two-hundred day simple moving average of $16.69. The stock has a market capitalization of $68.54 million, a P/E ratio of -0.37, a PEG ratio of 2.50 and a beta of 0.55.

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

Wall Street Analysts Forecast Growth

MODV has been the subject of several research analyst reports. Barrington Research decreased their price objective on shares of ModivCare from $25.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday, January 14th. Stephens reaffirmed an “equal weight” rating and set a $17.00 target price (down from $21.00) on shares of ModivCare in a report on Friday, January 10th. Finally, Lake Street Capital cut 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. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.20.

Institutional Investors Weigh In On ModivCare

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its position in shares of ModivCare by 227.5% during 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 during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of ModivCare in the 3rd quarter valued at $43,000. State Street Corp raised its holdings in shares of ModivCare by 1.5% in 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 during the period. AQR Capital Management LLC lifted its stake in ModivCare by 16.0% during the 2nd quarter. AQR Capital Management LLC now owns 40,444 shares of the company’s stock worth $1,061,000 after acquiring an additional 5,592 shares in the last quarter. Finally, Quest Partners LLC grew its position in ModivCare by 144.3% in the 3rd quarter. Quest Partners LLC now owns 9,779 shares of the company’s stock valued at $140,000 after acquiring an additional 5,776 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.