Wolverine Asset Management LLC Has $1.30 Million Stake in ModivCare Inc. (NASDAQ:MODV)

Wolverine Asset Management LLC raised its stake in shares of ModivCare Inc. (NASDAQ:MODV) by 14.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 110,172 shares of the company’s stock after purchasing an additional 14,209 shares during the period. Wolverine Asset Management LLC owned approximately 0.77% of ModivCare worth $1,304,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MODV. Wilmington Savings Fund Society FSB acquired a new position in ModivCare during the 3rd quarter valued at about $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 worth $55,000 after buying an additional 2,657 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of ModivCare during the 3rd quarter worth approximately $102,000. Quest Partners LLC lifted its position in shares of 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 buying an additional 5,776 shares in the last quarter. Finally, Repertoire Partners LP bought a new position in shares of ModivCare during the 3rd quarter worth approximately $178,000.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Barrington Research dropped their target price on shares of ModivCare from $25.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 14th. Lake Street Capital dropped their target price on shares of ModivCare from $30.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Stephens reissued 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. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $18.20.

Insider Activity at ModivCare

In related news, 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 purchased at an average price of $3.87 per share, for a total transaction of $725,625.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Q Global Capital Management, L bought 3,352 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were bought at an average price of $17.74 per share, for a total transaction of $59,464.48. Following the transaction, the insider now owns 1,924,985 shares of the company’s stock, valued at approximately $34,149,233.90. This represents a 0.17 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 393,306 shares of company stock worth $1,786,240. Insiders own 1.20% of the company’s stock.

ModivCare Price Performance

ModivCare stock opened at $5.05 on Friday. ModivCare Inc. has a 12 month low of $3.64 and a 12 month high of $44.87. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 103.63. The business’s 50 day simple moving average is $7.96 and its 200 day simple moving average is $15.18. The company has a market cap of $72.16 million, a price-to-earnings ratio of -0.39, a PEG ratio of 3.46 and a beta of 0.55.

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.