Quarry LP Invests $185,000 in ModivCare Inc. (NASDAQ:MODV)

Quarry LP acquired a new position in shares of ModivCare Inc. (NASDAQ:MODV) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 15,583 shares of the company’s stock, valued at approximately $185,000.

A number of other large investors have also modified their holdings of the stock. Neuberger Berman Group LLC increased its position in shares of ModivCare by 5.4% during the fourth quarter. Neuberger Berman Group LLC now owns 2,069,161 shares of the company’s stock worth $24,499,000 after acquiring an additional 106,485 shares during the period. State Street Corp grew its stake in shares of ModivCare by 1.5% during the third quarter. State Street Corp now owns 349,750 shares of the company’s stock worth $4,994,000 after purchasing an additional 5,115 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of ModivCare by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 262,929 shares of the company’s stock worth $3,114,000 after purchasing an additional 2,342 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of ModivCare by 67.3% during the fourth quarter. Franklin Resources Inc. now owns 130,367 shares of the company’s stock worth $1,544,000 after purchasing an additional 52,460 shares in the last quarter. Finally, Wolverine Asset Management LLC grew its stake in shares of ModivCare by 14.8% during the fourth quarter. Wolverine Asset Management LLC now owns 110,172 shares of the company’s stock worth $1,304,000 after purchasing an additional 14,209 shares in the last quarter.

Wall Street Analysts Forecast Growth

MODV has been the subject of a number of analyst reports. Lake Street Capital lowered 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. Stephens lowered 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. Finally, Barrington Research lowered their target price on shares of ModivCare from $10.00 to $6.00 and set an “outperform” rating for the company in a research note on Friday, March 7th.

ModivCare Trading Down 4.8 %

MODV opened at $1.40 on Tuesday. The firm has a market cap of $20.08 million, a price-to-earnings ratio of -0.11, a price-to-earnings-growth ratio of 3.46 and a beta of 0.88. ModivCare Inc. has a 52 week low of $0.96 and a 52 week high of $32.82. The business’s 50 day moving average is $2.18 and its two-hundred day moving average is $8.74. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 103.63.

Insiders Place Their Bets

In other news, major shareholder Catalyst Fund Lp Ai purchased 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 approximately $8,243,100. This represents a 9.65 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

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.