ModivCare Inc. (NASDAQ:MODV) Short Interest Update

ModivCare Inc. (NASDAQ:MODV) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 2,260,000 shares, a growth of 21.5% from the February 28th total of 1,860,000 shares. Approximately 18.9% of the company’s shares are short sold. Based on an average daily trading volume, of 599,800 shares, the days-to-cover ratio is presently 3.8 days.

Insider Transactions at ModivCare

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

Institutional Investors Weigh In On ModivCare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. K2 Principal Fund L.P. boosted its stake in shares of ModivCare by 24.6% during the 3rd quarter. K2 Principal Fund L.P. now owns 158,820 shares of the company’s stock worth $2,268,000 after buying an additional 31,334 shares during the last quarter. FMR LLC boosted its position in ModivCare by 227.5% during the third quarter. FMR LLC now owns 3,825 shares of the company’s stock valued at $55,000 after purchasing an additional 2,657 shares during the last quarter. Barclays PLC grew its stake in ModivCare by 249.4% in 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. Wolverine Asset Management LLC increased its position in shares of ModivCare by 14.8% during the 4th 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 during the last quarter. Finally, HG Vora Capital Management LLC bought a new stake in shares of ModivCare during the 3rd quarter worth approximately $17,136,000.

ModivCare Stock Up 5.4 %

NASDAQ:MODV traded up $0.08 during trading hours on Wednesday, reaching $1.46. 217,551 shares of the stock were exchanged, compared to its average volume of 351,377. The stock has a market cap of $20.86 million, a PE ratio of -0.11, a PEG ratio of 3.46 and a beta of 0.59. ModivCare has a twelve month low of $1.24 and a twelve month high of $32.82. The firm has a 50 day moving average of $3.81 and a 200 day moving average of $10.64. The company has a debt-to-equity ratio of 103.63, a current ratio of 0.80 and a quick ratio of 0.80.

Analyst Ratings Changes

Several equities analysts recently issued reports on MODV shares. Stephens decreased their price objective on ModivCare from $7.00 to $3.50 and set an “equal weight” rating for the company in a research report on Monday, March 10th. Lake Street Capital reduced their price target on shares of ModivCare from $30.00 to $10.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Barrington Research dropped their price objective on shares of ModivCare from $10.00 to $6.00 and set an “outperform” rating on the stock in a report on Friday, March 7th.

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.