Stephens Has Lowered Expectations for ModivCare (NASDAQ:MODV) Stock Price

ModivCare (NASDAQ:MODV) had its price objective decreased by research analysts at Stephens from $7.00 to $3.50 in a report released on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Stephens’ price objective would indicate a potential upside of 36.99% from the company’s current price.

MODV has been the topic of several other research reports. Barrington Research dropped their target price on shares of ModivCare from $10.00 to $6.00 and set an “outperform” rating on the stock in a research report on Friday. Lake Street Capital decreased their price target on ModivCare from $30.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, January 13th.

ModivCare Stock Down 7.1 %

Shares of MODV stock traded down $0.20 during trading hours on Monday, reaching $2.56. The company had a trading volume of 361,687 shares, compared to its average volume of 332,921. ModivCare has a 12 month low of $2.33 and a 12 month high of $33.64. 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 company has a market cap of $36.52 million, a price-to-earnings ratio of -0.20, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59. The business has a fifty day simple moving average of $6.32 and a 200-day simple moving average of $13.66.

Insider Buying and Selling at ModivCare

In related news, major shareholder Catalyst Fund Lp Ai purchased 187,500 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were acquired at an average price of $3.87 per share, for a total transaction of $725,625.00. Following the completion of the acquisition, the insider now directly owns 2,130,000 shares in the company, valued at approximately $8,243,100. The trade was a 9.65 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Q Global Capital Management, L acquired 3,837 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was bought at an average price of $12.61 per share, with a total value of $48,384.57. Following the completion of the acquisition, the insider now directly owns 1,970,935 shares in the company, valued at approximately $24,853,490.35. This represents a 0.20 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 378,837 shares of company stock worth $1,529,635. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ModivCare

Institutional investors have recently bought and sold shares of the stock. Q Global Advisors LLC boosted its holdings in shares of ModivCare by 96.3% during the 4th quarter. Q Global Advisors LLC now owns 1,967,098 shares of the company’s stock valued at $23,290,000 after buying an additional 964,998 shares in the last quarter. PharVision Advisers LLC purchased a new stake in ModivCare in the fourth quarter worth about $692,000. State of Wyoming increased its stake in shares of ModivCare by 250.4% during the fourth quarter. State of Wyoming now owns 13,052 shares of the company’s stock valued at $155,000 after purchasing an additional 9,327 shares in the last quarter. Sona Asset Management US LLC purchased a new position in shares of ModivCare during the fourth quarter valued at approximately $770,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of ModivCare in the 4th quarter worth approximately $286,000.

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.