Boothbay Fund Management LLC Makes New Investment in ModivCare Inc. (NASDAQ:MODV)

Boothbay Fund Management LLC purchased a new stake in ModivCare Inc. (NASDAQ:MODV) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 22,036 shares of the company’s stock, valued at approximately $261,000.

Several other hedge funds and other institutional investors have also bought and sold shares of MODV. Wilmington Savings Fund Society FSB acquired a new stake in ModivCare in the third quarter worth $43,000. Canada Pension Plan Investment Board increased its position 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 buying an additional 2,300 shares in the last quarter. Quantbot Technologies LP acquired a new stake in ModivCare during the 4th quarter worth $77,000. Mariner LLC bought a new position in ModivCare during the fourth quarter worth about $120,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in ModivCare in the fourth quarter valued at about $144,000.

ModivCare Stock Up 5.8 %

Shares of ModivCare stock opened at $1.46 on Friday. The firm has a market cap of $20.94 million, a PE ratio of -0.11, a P/E/G ratio of 3.46 and a beta of 0.88. The business’s 50 day simple moving average is $1.87 and its 200 day simple moving average is $8.42. The company has a debt-to-equity ratio of 103.63, a quick ratio of 0.80 and a current ratio of 0.80. ModivCare Inc. has a 52-week low of $0.96 and a 52-week high of $32.82.

Wall Street Analyst Weigh In

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

Insider Transactions at ModivCare

In related news, major shareholder Catalyst Fund Lp Ai bought 187,500 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were acquired 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 owns 2,130,000 shares in the company, valued at $8,243,100. The trade was a 9.65 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company 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.