ModivCare Inc. (NASDAQ:MODV) Major Shareholder Purchases $333,797.49 in Stock

Posted by Scott Moore on Nov 24th, 2024

ModivCare Inc. (NASDAQ:MODV – Get Free Report) major shareholder Q Global Capital Management, L bought 21,411 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were bought at an average cost of $15.59 per share, with a total value of $333,797.49. Following the purchase, the insider now directly owns 1,834,136 shares in the company, valued at approximately $28,594,180.24. This trade represents a 1.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

On Thursday, November 21st, Q Global Capital Management, L bought 23,657 shares of ModivCare stock. The stock was purchased at an average price of $16.92 per share, for a total transaction of $400,276.44.
On Thursday, November 7th, Q Global Capital Management, L purchased 58,191 shares of ModivCare stock. The shares were purchased at an average price of $17.13 per share, with a total value of $996,811.83.
On Monday, November 4th, Q Global Capital Management, L acquired 20,927 shares of ModivCare stock. The stock was purchased at an average price of $16.13 per share, for a total transaction of $337,552.51.
On Friday, November 1st, Q Global Capital Management, L bought 33,495 shares of ModivCare stock. The stock was acquired 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 shares were 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 stock was acquired 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 bought 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 purchased 50,748 shares of ModivCare stock. The shares were bought at an average price of $14.16 per share, with a total value of $718,591.68.

ModivCare Stock Up 1.8 %

Shares of MODV stock opened at $17.79 on Friday. ModivCare Inc. has a 12 month low of $11.00 and a 12 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. The firm has a market cap of $254.11 million, a PE ratio of -1.38, a price-to-earnings-growth ratio of 2.72 and a beta of 0.47. The stock has a 50 day moving average of $15.38 and a 200-day moving average of $22.21.

ModivCare (NASDAQ:MODV – Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.04). The company had revenue of $702.04 million for the quarter, compared to analyst estimates of $711.28 million. ModivCare had a negative net margin of 6.57% and a positive return on equity of 26.14%. ModivCare’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.35 earnings per share. On average, equities analysts predict that ModivCare Inc. will post 0.64 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MODV shares. Lake Street Capital reduced their target price on ModivCare from $50.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Barrington Research reiterated an “outperform” rating and issued a $25.00 target price on shares of ModivCare in a research note on Monday, November 18th. Finally, Jefferies Financial Group cut their target price on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating for the company in a research report on Friday, September 13th.

Get Our Latest Analysis on MODV

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MODV. HG Vora Capital Management LLC acquired a new stake in ModivCare during the third quarter worth about $17,136,000. Millennium Management LLC grew its holdings in shares of ModivCare by 83.2% during the 2nd quarter. Millennium Management LLC now owns 841,295 shares of the company’s stock worth $22,076,000 after purchasing an additional 381,995 shares in the last quarter. K2 Principal Fund L.P. bought a new stake in shares of ModivCare during the second quarter valued at approximately $3,345,000. AYAL Capital Advisors Ltd raised its stake in shares of ModivCare by 42.1% in the second quarter. AYAL Capital Advisors Ltd now owns 262,904 shares of the company’s stock valued at $6,899,000 after purchasing an additional 77,930 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in ModivCare by 11.7% during the second quarter. Renaissance Technologies LLC now owns 304,299 shares of the company’s stock worth $7,985,000 after buying an additional 31,800 shares in the last quarter.

About ModivCare

(Get Free Report)

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.