Kennedy Capital Management LLC Sells 45,719 Shares of ModivCare Inc. (NASDAQ:MODV)

Kennedy Capital Management LLC trimmed its holdings in ModivCare Inc. (NASDAQ:MODV) by 57.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 33,409 shares of the company’s stock after selling 45,719 shares during the quarter. Kennedy Capital Management LLC’s holdings in ModivCare were worth $396,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Neuberger Berman Group LLC boosted its holdings in ModivCare by 5.4% in the fourth quarter. Neuberger Berman Group LLC now owns 2,069,161 shares of the company’s stock worth $24,499,000 after purchasing an additional 106,485 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of ModivCare by 67.3% in the fourth quarter. Franklin Resources Inc. now owns 130,367 shares of the company’s stock worth $1,544,000 after buying an additional 52,460 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of ModivCare by 49.5% during the 4th quarter. Bank of New York Mellon Corp now owns 55,287 shares of the company’s stock worth $655,000 after acquiring an additional 18,315 shares in the last quarter. Wolverine Asset Management LLC raised 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 in the last quarter. Finally, Barclays PLC lifted its holdings in ModivCare by 249.4% in the 3rd quarter. Barclays PLC now owns 15,235 shares of the company’s stock worth $218,000 after purchasing an additional 10,875 shares during the last quarter.

ModivCare Stock Down 13.2 %

Shares of MODV stock opened at $1.12 on Wednesday. The stock has a 50 day moving average of $2.99 and a 200-day moving average of $9.72. The firm has a market cap of $16.06 million, a PE ratio of -0.09, a price-to-earnings-growth ratio of 3.46 and a beta of 0.88. 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 Inc. has a 12 month low of $0.98 and a 12 month high of $32.82.

Wall Street Analyst Weigh In

Several equities analysts have commented on MODV shares. Barrington Research lowered their price target on ModivCare from $10.00 to $6.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Lake Street Capital decreased their price objective 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, Stephens dropped their target price on shares of ModivCare from $7.00 to $3.50 and set an “equal weight” rating on the stock in a report on Monday, March 10th.

Insider Activity at ModivCare

In other news, major shareholder Catalyst Fund Lp Ai purchased 187,500 shares of the business’s stock in a transaction on Friday, January 31st. The stock was purchased at an average price of $4.03 per share, with a total value of $755,625.00. Following the acquisition, the insider now directly owns 1,942,500 shares in the company, valued at approximately $7,828,275. The trade was a 10.68 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.

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.