Quarry LP Acquires Shares of 15,583 ModivCare Inc. (NASDAQ:MODV)

Quarry LP acquired a new stake in shares of ModivCare Inc. (NASDAQ:MODV) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 15,583 shares of the company’s stock, valued at approximately $185,000. Quarry LP owned 0.11% of ModivCare at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Boothbay Fund Management LLC acquired a new position in shares of ModivCare in the 4th quarter valued at $261,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of ModivCare in the 4th quarter valued at $144,000. Canada Pension Plan Investment Board lifted its stake in shares of ModivCare by 82.1% in the 4th quarter. Canada Pension Plan Investment Board now owns 5,100 shares of the company’s stock valued at $60,000 after purchasing an additional 2,300 shares during the period. Walleye Capital LLC lifted its stake in shares of ModivCare by 97.6% in the 4th quarter. Walleye Capital LLC now owns 65,672 shares of the company’s stock valued at $778,000 after purchasing an additional 32,430 shares during the period. Finally, Mariner LLC acquired a new position in shares of ModivCare in the 4th quarter valued at $120,000.

Wall Street Analyst Weigh In

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

ModivCare Trading Down 4.8 %

MODV stock opened at $1.40 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 103.63. ModivCare Inc. has a 12-month low of $0.96 and a 12-month high of $32.82. The stock has a market cap of $20.08 million, a price-to-earnings ratio of -0.11, a PEG ratio of 3.46 and a beta of 0.88. The business’s 50-day moving average is $2.18 and its 200 day moving average is $8.74.

Insider Transactions at ModivCare

In other news, major shareholder Catalyst Fund Lp Ai bought 187,500 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were bought at an average price of $3.87 per share, with a total value of $725,625.00. Following the completion of the transaction, the insider now directly owns 2,130,000 shares in the company, valued at $8,243,100. This trade represents a 9.65 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

ModivCare 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.