By Dean Seal
Shares of ModivCare climbed after the healthcare-services company’s chairman bought more than $15 million in shares this week.
The stock was up 14% at $33.34 in midday trading. Shares are down 69% over the past 12 months.
Chairman Christopher Shackelton disclosed on Monday that during the previous week, he bought more than 335,000 shares at an average price of $28.28 apiece, bringing his total holdings up to nearly 2.5 million shares. The transaction cost him almost $9.5 million.
Then on Wednesday, Shackleton disclosed that he bought another 213,000 shares this week at an average price of $29.82, costing nearly $6.4 million.
Shackelton is managing partner and co-founder of Coliseum Capital Management.
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