10% owner AI Catalyst Fund buys 420,000 shares across 3 transactions for $1,677,000.00 as MODV trades -92.5% from 52-week high.
AI Catalyst Fund, a 10% owner of ModivCare, deployed $1,677,000.00 across 3 separate purchases totaling 420,000 shares from January 30 to February 3, 2025, at an average price of $3.99. This represents a 24.6% increase in the fund's stake from 1,710,000 shares to 2,130,000 shares. The purchases occur amid severe price deterioration: the stock trades at $3.84, down 92.5% from its 52-week high of $50.95 and down 67.1% over the prior 30 days. The company is unprofitable (full-year net income was $-26,604,000.00) with a market cap of $54,849,269.76, making this a deeply distressed equity acquisition by a significant shareholder during an extended drawdown.