ModivCare Inc. (NASDAQ:MODV) Major Shareholder Q Global Capital Management, L Acquires 23,657 Shares of Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L bought 23,657 shares of the stock in a transaction dated Thursday, November 21st. The stock was bought at an average cost of $16.92 per share, for a total transaction of $400,276.44. Following the acquisition, the insider now directly owns 1,889,248 shares of the company’s stock, valued at approximately $31,966,076.16. This represents a 1.27 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Tuesday, November 19th, Q Global Capital Management, L purchased 21,411 shares of ModivCare stock. The stock was bought at an average price of $15.59 per share, for a total transaction of $333,797.49.
• On Thursday, November 7th, Q Global Capital Management, L acquired 58,191 shares of ModivCare stock. The shares were bought at an average cost of $17.13 per share, with a total value of $996,811.83.
• On Monday, November 4th, Q Global Capital Management, L bought 20,927 shares of ModivCare stock. The stock was purchased at an average cost of $16.13 per share, for a total transaction of $337,552.51.
• On Friday, November 1st, Q Global Capital Management, L purchased 33,495 shares of ModivCare stock. The shares were purchased at an average price of $16.15 per share, with a total value of $540,944.25.
• On Wednesday, October 30th, Q Global Capital Management, L purchased 38,292 shares of ModivCare stock. The stock was acquired 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 acquired 25,496 shares of ModivCare stock. The shares were bought 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 bought 20,556 shares of ModivCare stock. The stock was purchased at an average price of $14.65 per share, with a total value of $301,145.40.
• On Wednesday, October 23rd, Q Global Capital Management, L acquired 50,748 shares of ModivCare stock. The shares were acquired at an average price of $14.16 per share, with a total value of $718,591.68.

ModivCare Stock Performance

Shares of NASDAQ:MODV traded up $0.39 during midday trading on Friday, reaching $17.86. The company’s stock had a trading volume of 15,434 shares, compared to its average volume of 254,516. The firm has a market capitalization of $255.04 million, a PE ratio of -1.35, a P/E/G ratio of 2.42 and a beta of 0.47. The stock has a fifty day moving average of $15.30 and a 200 day moving average of $22.30. ModivCare Inc. has a twelve month low of $11.00 and a twelve month high of $52.33. 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 (NASDAQ:MODV) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). ModivCare had a negative net margin of 6.57% and a positive return on equity of 26.14%. The company had revenue of $702.04 million for the quarter, compared to analysts’ expectations of $711.28 million. During the same quarter in the previous year, the business posted $1.35 EPS. The business’s quarterly revenue was up 2.2% on a year-over-year basis. On average, equities analysts expect that ModivCare Inc. will post 0.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MODV. Nisa Investment Advisors LLC grew its position in shares of ModivCare by 5,522.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,237 shares of the company’s stock valued at $32,000 after acquiring an additional 1,215 shares during the period. FMR LLC boosted its position in ModivCare by 227.5% during the third quarter. FMR LLC now owns 3,825 shares of the company’s stock worth $55,000 after purchasing an additional 2,657 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in ModivCare in the second quarter valued at approximately $60,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of ModivCare in the first quarter valued at approximately $91,000. Finally, SG Americas Securities LLC acquired a new position in shares of ModivCare during the 3rd quarter worth approximately $102,000.

Analysts Set New Price Targets

A number of brokerages have commented on MODV. 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 note on Friday, September 13th. Barrington Research reissued an “outperform” rating and set a $25.00 price target on shares of ModivCare in a research report on Monday. Finally, Lake Street Capital dropped their target price on ModivCare from $50.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th.

About ModivCare

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.