ModivCare Inc. (NASDAQ:MODV) Stock Holdings Boosted by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in ModivCare Inc. (NASDAQ:MODV) by 49.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 55,287 shares of the company’s stock after purchasing an additional 18,315 shares during the quarter. Bank of New York Mellon Corp owned about 0.39% of ModivCare worth $655,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of ModivCare during the third quarter worth approximately $43,000. FMR LLC raised its stake in ModivCare by 227.5% during the 3rd quarter. FMR LLC now owns 3,825 shares of the company’s stock valued at $55,000 after acquiring an additional 2,657 shares in the last quarter. Quest Partners LLC boosted its position in 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 acquiring an additional 5,776 shares during the period. Repertoire Partners LP bought a new position in shares of ModivCare in the third quarter worth $178,000. Finally, Barclays PLC raised its stake in shares of ModivCare by 249.4% during the third quarter. Barclays PLC now owns 15,235 shares of the company’s stock valued at $218,000 after purchasing an additional 10,875 shares in the last quarter.

Insider Transactions at ModivCare

In other ModivCare news, major shareholder Catalyst Fund Lp Ai bought 187,500 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were bought at an average price of $3.87 per share, for a total transaction of $725,625.00. Following the acquisition, the insider now directly owns 2,130,000 shares of the company’s stock, valued at approximately $8,243,100. This trade represents a 9.65 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Q Global Capital Management, L acquired 3,837 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were bought at an average cost of $12.61 per share, for a total transaction of $48,384.57. Following the completion of the transaction, the insider now directly owns 1,970,935 shares of the company’s stock, valued at $24,853,490.35. This represents a 0.20 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 378,837 shares of company stock valued at $1,529,635 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.

ModivCare Stock Down 2.5 %

MODV stock opened at $1.73 on Thursday. The company has a debt-to-equity ratio of 103.63, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $24.74 million, a PE ratio of -0.13, a P/E/G ratio of 3.46 and a beta of 0.59. ModivCare Inc. has a 12 month low of $1.68 and a 12 month high of $32.82. The firm has a 50 day simple moving average of $4.23 and a 200 day simple moving average of $11.37.

Wall Street Analyst Weigh In

MODV has been the subject of a number of recent analyst reports. 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 report on Monday, January 13th. Stephens decreased their price objective on shares of ModivCare from $7.00 to $3.50 and set an “equal weight” rating for the company in a report on Monday, March 10th. Finally, Barrington Research dropped their target price on ModivCare from $10.00 to $6.00 and set an “outperform” rating on the stock in a report on Friday, March 7th.

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.