Skylands Capital LLC Decreases Stock Holdings in ModivCare Inc. (NASDAQ:MODV)

Skylands Capital LLC trimmed its position in shares of ModivCare Inc. (NASDAQ:MODV - Free Report) by 96.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,500 shares of the company's stock after selling 61,450 shares during the period. Skylands Capital LLC's holdings in ModivCare were worth $30,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MODV. HG Vora Capital Management LLC bought a new position in shares of ModivCare in the third quarter worth about $17,136,000. K2 Principal Fund L.P. grew its stake in shares of ModivCare by 24.6% during the third 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. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of ModivCare during the third quarter worth $369,000. Wolverine Asset Management LLC lifted its stake in shares of ModivCare by 14.8% in the 4th quarter. Wolverine Asset Management LLC now owns 110,172 shares of the company's stock valued at $1,304,000 after acquiring an additional 14,209 shares during the last quarter. Finally, Repertoire Partners LP acquired a new stake in shares of ModivCare during the 3rd quarter valued at $178,000.

Insider Activity at ModivCare

In other ModivCare news, major shareholder Q Global Capital Management, L purchased 1,583 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was bought at an average cost of $17.75 per share, with a total value of $28,098.25. Following the transaction, the insider now directly owns 1,921,633 shares in the company, valued at approximately $34,108,985.75. The trade was a 0.08 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Catalyst Fund Lp Ai purchased 187,500 shares of the stock in a transaction dated Monday, February 3rd. The stock was bought at an average cost 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. The trade was a 9.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 392,982 shares of company stock valued at $1,780,491 over the last three months. 1.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Stephens reiterated an "equal weight" rating and issued a $17.00 price objective (down previously from $21.00) on shares of ModivCare in a report on Friday, January 10th. Barrington Research reduced their price objective on shares of ModivCare from $25.00 to $10.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 14th. Finally, Lake Street Capital lowered their target price on ModivCare from $30.00 to $10.00 and set a "buy" rating for the company in a research report on Monday, January 13th.

ModivCare Stock Down 18.1 %

Shares of ModivCare stock traded down $0.73 on Friday, hitting $3.30. The company had a trading volume of 507,485 shares, compared to its average volume of 684,830. The stock has a market capitalization of $47.17 million, a price-to-earnings ratio of -0.26, a P/E/G ratio of 3.46 and a beta of 0.55. The stock has a 50 day moving average of $7.28 and a 200-day moving average of $14.74. ModivCare Inc. has a 1 year low of $3.22 and a 1 year high of $33.64. The company has a debt-to-equity ratio of 103.63, a quick ratio of 0.80 and a current ratio of 0.80.

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.