ModivCare (NASDAQ:MODV) Price Target Lowered to $3.50 at Stephens

ModivCare (NASDAQ:MODV) had its target price trimmed by Stephens from $7.00 to $3.50 in a research report report published on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other research analysts have also issued reports on the company. Lake Street Capital decreased their target price on ModivCare from $30.00 to $10.00 and set a “buy” rating for the company in a report on Monday, January 13th. Barrington Research reduced their price target on ModivCare from $10.00 to $6.00 and set an “outperform” rating on the stock in a research report on Friday.

ModivCare Stock Performance

Shares of MODV stock opened at $2.54 on Monday. The firm has a 50 day moving average of $6.16 and a two-hundred day moving average of $13.50. The stock has a market capitalization of $36.31 million, a PE ratio of -0.20, a P/E/G ratio of 3.46 and a beta of 0.59. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 103.63. ModivCare has a 52 week low of $2.33 and a 52 week high of $33.64.

Insider Buying and Selling

In other news, major shareholder Q Global Capital Management, L sold 262,532 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $6.53, for a total value of $1,714,333.96. Following the transaction, the insider now owns 1,221,933 shares in the company, valued at approximately $7,979,222.49. This represents a 17.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Catalyst Fund Lp Ai bought 187,500 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were acquired at an average cost of $3.87 per share, for a total transaction of $725,625.00. Following 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 disclosure for this purchase can be found here. Over the last quarter, insiders bought 378,837 shares of company stock worth $1,529,635. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On ModivCare

Hedge funds have recently added to or reduced their stakes in the stock. HG Vora Capital Management LLC purchased a new stake in shares of ModivCare during the 3rd quarter worth approximately $17,136,000. Q Global Advisors LLC lifted its position in ModivCare by 96.3% in the fourth quarter. Q Global Advisors LLC now owns 1,967,098 shares of the company’s stock valued at $23,290,000 after acquiring an additional 964,998 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in ModivCare by 5.4% in the fourth quarter. Neuberger Berman Group LLC now owns 2,069,161 shares of the company’s stock valued at $24,499,000 after acquiring an additional 106,485 shares in the last quarter. Bank of America Corp DE boosted its stake in ModivCare by 176.2% in the fourth quarter. Bank of America Corp DE now owns 147,961 shares of the company’s stock valued at $1,752,000 after acquiring an additional 94,382 shares in the last quarter. Finally, Sona Asset Management US LLC purchased a new position in shares of ModivCare during the fourth quarter worth about $770,000.

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.