ModivCare Inc. (NASDAQ:MODV) Major Shareholder Q Global Capital Management, L Purchases 20,927 Shares of Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L purchased 20,927 shares of the stock in a transaction dated Monday, November 4th. The shares were acquired at an average cost of $16.13 per share, for a total transaction of $337,552.51. Following the completion of the acquisition, the insider now owns 1,742,544 shares of the company’s stock, valued at approximately $28,107,234.72. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, November 1st, Q Global Capital Management, L purchased 33,495 shares of ModivCare stock. The shares were purchased at an average cost of $16.15 per share, for a total transaction of $540,944.25.
• On Wednesday, October 30th, Q Global Capital Management, L acquired 38,292 shares of ModivCare stock. The shares were acquired at an average cost of $15.89 per share, with a total value 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, with a total value of $400,032.24.
• On Friday, October 25th, Q Global Capital Management, L acquired 20,556 shares of ModivCare stock. The shares were bought 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 bought 50,748 shares of ModivCare stock. The shares were purchased at an average price of $14.16 per share, with a total value of $718,591.68.

ModivCare Price Performance

Shares of NASDAQ MODV opened at $16.95 on Thursday. The firm has a market cap of $241.37 million, a PE ratio of -1.50, a PEG ratio of 2.12 and a beta of 0.47. The firm has a fifty day moving average of $18.20 and a 200 day moving average of $22.88. ModivCare Inc. has a one year low of $11.00 and a one year high of $52.33. The company has a debt-to-equity ratio of 103.63, a quick ratio of 0.80 and a current ratio of 0.80.

ModivCare (NASDAQ:MODV) last issued 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). The company had revenue of $698.30 million during the quarter, compared to analysts’ expectations of $701.00 million. ModivCare had a negative net margin of 5.80% and a positive return on equity of 27.52%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.41 earnings per share. As a group, research analysts predict that ModivCare Inc. will post 1.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On ModivCare

A number of hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC lifted 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 worth $32,000 after buying an additional 1,215 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of ModivCare in the 2nd quarter valued at about $60,000. State Board of Administration of Florida Retirement System purchased a new position in shares of ModivCare in the first quarter valued at $91,000. Central Pacific Bank Trust Division acquired a new stake in ModivCare during the 1st quarter valued at $100,000. Finally, SG Americas Securities LLC acquired a new position in shares of ModivCare in the third quarter valued at approximately $102,000.

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.