Bank of America Corp DE Buys 94,382 Shares of ModivCare Inc. (NASDAQ:MODV)

Bank of America Corp DE boosted its stake in shares of ModivCare Inc. (NASDAQ:MODV) by 176.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 147,961 shares of the company’s stock after purchasing an additional 94,382 shares during the quarter. Bank of America Corp DE owned about 1.04% of ModivCare worth $1,752,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new stake in ModivCare in the 4th quarter valued at $246,000. Northern Trust Corp lifted its stake in shares of ModivCare by 3.7% in the fourth quarter. Northern Trust Corp now owns 116,878 shares of the company’s stock valued at $1,384,000 after buying an additional 4,219 shares during the period. Quarry LP bought a new stake in shares of ModivCare in the fourth quarter valued at about $185,000. Boothbay Fund Management LLC bought a new stake in shares of ModivCare in the fourth quarter valued at about $261,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of ModivCare in the 4th quarter worth approximately $144,000.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MODV. Stephens cut their price target on shares of ModivCare from $7.00 to $3.50 and set an “equal weight” rating for the company in a research note on Monday, March 10th. Barrington Research reissued a “market perform” rating on shares of ModivCare in a report on Monday, May 12th.

ModivCare Stock Down 12.7%

Shares of MODV opened at $1.92 on Wednesday. The company has a debt-to-equity ratio of 103.63, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $27.56 million, a price-to-earnings ratio of -0.15, a PEG ratio of 3.46 and a beta of 0.89. ModivCare Inc. has a 52 week low of $0.87 and a 52 week high of $32.82. The stock has a fifty day moving average of $1.21 and a 200-day moving average of $6.12.

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.