ModivCare Inc. (NASDAQ:MODV) Major Shareholder Q Global Capital Management, L Acquires 33,495 Shares

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L purchased 33,495 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was purchased at an average price of $16.15 per share, for a total transaction of $540,944.25. Following the transaction, the insider now directly owns 1,721,617 shares in the company, valued at approximately $27,804,114.55. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Q Global Capital Management, L also recently made the following trade(s):

• On Wednesday, October 30th, Q Global Capital Management, L purchased 38,292 shares of ModivCare stock. The stock was purchased at an average price of $15.89 per share, for a total transaction of $608,459.88.
• On Monday, October 28th, Q Global Capital Management, L purchased 25,496 shares of ModivCare stock. The stock was purchased at an average price of $15.69 per share, for a total transaction of $400,032.24.
• On Friday, October 25th, Q Global Capital Management, L purchased 20,556 shares of ModivCare stock. The stock was purchased at an average price of $14.65 per share, for a total transaction of $301,145.40.
• On Wednesday, October 23rd, Q Global Capital Management, L purchased 50,748 shares of ModivCare stock. The stock was purchased at an average price of $14.16 per share, for a total transaction of $718,591.68.

ModivCare Stock Performance

Shares of MODV stock opened at $16.18 on Friday. The firm has a market capitalization of $230.40 million, a PE ratio of -1.43, a price-to-earnings-growth ratio of 2.09 and a beta of 0.49. The firm has a fifty day simple moving average of $18.65 and a two-hundred day simple moving average of $22.92. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 103.63. ModivCare Inc. has a 12 month low of $11.00 and a 12 month high of $52.33.

ModivCare (NASDAQ:MODV) last posted its earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.80). ModivCare had a positive return on equity of 27.52% and a negative net margin of 5.80%. The firm had revenue of $698.30 million during the quarter, compared to the consensus estimate of $701.00 million. During the same quarter in the previous year, the company earned $1.41 EPS. The business’s revenue was down .1% compared to the same quarter last year. Analysts forecast that ModivCare Inc. will post 1.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on MODV. Lake Street Capital dropped their target price on shares of ModivCare from $50.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Barrington Research boosted their target price on shares of ModivCare from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Finally, Jefferies Financial Group dropped their target price on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating on the stock in a research report on Friday, September 13th.

Institutional Trading of ModivCare

Several institutional investors have recently made changes to their positions in the company. SummerHaven Investment Management LLC grew its stake in shares of ModivCare by 3.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 14,511 shares of the company’s stock worth $381,000 after acquiring an additional 530 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in ModivCare by 3.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,483 shares of the company’s stock valued at $481,000 after purchasing an additional 608 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in ModivCare by 5,522.7% during the second quarter. Nisa Investment Advisors LLC now owns 1,237 shares of the company’s stock valued at $32,000 after purchasing an additional 1,215 shares during the last quarter. Quest Partners LLC lifted its holdings in ModivCare by 49.9% during the second quarter. Quest Partners LLC now owns 4,003 shares of the company’s stock valued at $105,000 after purchasing an additional 1,332 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in ModivCare by 9.5% during the second quarter. American Century Companies Inc. now owns 19,916 shares of the company’s stock valued at $523,000 after purchasing an additional 1,726 shares during the last quarter.

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.