ModivCare Inc. (NASDAQ:MODV) Major Shareholder Acquires $996,811.83 in Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L acquired 58,191 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was acquired at an average price of $17.13 per share, with a total value of $996,811.83. Following the purchase, the insider now directly owns 1,812,725 shares in the company, valued at approximately $31,051,979.25. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major 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 Monday, November 4th, Q Global Capital Management, L bought 20,927 shares of ModivCare stock. The shares were acquired 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 stock was bought 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 acquired 38,292 shares of ModivCare stock. The stock was bought 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 bought 25,496 shares of ModivCare stock. The shares were bought at an average cost 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 bought at an average cost 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 purchased at an average price of $14.16 per share, for a total transaction of $718,591.68.

ModivCare Price Performance

MODV stock opened at $16.84 on Thursday. The stock has a market cap of $240.48 million, a price-to-earnings ratio of -1.31, a P/E/G ratio of 1.61 and a beta of 0.47. The company has a debt-to-equity ratio of 103.63, a current ratio of 0.80 and a quick ratio of 0.80. The company has a 50 day simple moving average of $16.75 and a 200 day simple moving average of $22.61. ModivCare Inc. has a 1 year low of $11.00 and a 1 year high of $52.33.

ModivCare (NASDAQ:MODV) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.45 earnings per share (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 positive return on equity of 26.14% and a negative net margin of 6.57%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted $1.35 earnings per share. Research analysts anticipate that ModivCare Inc. will post 1.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MODV shares. Barrington Research upped their price target on shares of ModivCare from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Lake Street Capital reduced their target price on ModivCare from $50.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Finally, Jefferies Financial Group lowered their price target on ModivCare from $25.00 to $14.00 and set a “hold” rating for the company in a report on Friday, September 13th.

Institutional Trading of ModivCare

A number of hedge funds have recently made changes to their positions in MODV. SummerHaven Investment Management LLC raised its holdings in ModivCare by 3.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 14,511 shares of the company’s stock valued at $381,000 after buying an additional 530 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in ModivCare by 3.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,483 shares of the company’s stock valued at $481,000 after acquiring an additional 608 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of 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 acquiring an additional 1,215 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of ModivCare by 49.9% during the second quarter. Quest Partners LLC now owns 4,003 shares of the company’s stock worth $105,000 after purchasing an additional 1,332 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of ModivCare by 9.5% in the second quarter. American Century Companies Inc. now owns 19,916 shares of the company’s stock worth $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.