ModivCare Inc. (NASDAQ:MODV) Major Shareholder Q Global Capital Management, L Acquires 50,748 Shares of Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L purchased 50,748 shares of ModivCare stock in a transaction dated Wednesday, October 23rd. The stock was bought at an average price of $14.16 per share, with a total value of $718,591.68. Following the completion of the transaction, the insider now owns 1,475,038 shares of the company’s stock, valued at $20,886,538.08. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

ModivCare Price Performance

Shares of ModivCare stock opened at $14.41 on Friday. The company has a fifty day moving average of $19.67 and a 200-day moving average of $23.17. 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 Inc. has a 52-week low of $11.00 and a 52-week high of $52.33. The stock has a market capitalization of $204.78 million, a price-to-earnings ratio of -0.92, a price-to-earnings-growth ratio of 1.82 and a beta of 0.49.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Barrington Research raised their price objective 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. Lake Street Capital decreased their price target on shares of 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 objective on 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 hedge funds and other institutional investors have recently bought and sold shares of MODV. SG Americas Securities LLC purchased a new position in shares of ModivCare in the third quarter worth $102,000. Susquehanna Fundamental Investments LLC purchased a new stake in ModivCare during the 2nd quarter valued at $581,000. Millennium Management LLC grew its holdings in ModivCare by 83.2% in the 2nd quarter. Millennium Management LLC now owns 841,295 shares of the company’s stock worth $22,076,000 after acquiring an additional 381,995 shares during the last quarter. Deerfield Management Company L.P. Series C purchased a new position in shares of ModivCare in the second quarter valued at about $206,000. Finally, AQR Capital Management LLC raised its stake in shares of ModivCare by 16.0% during the second quarter. AQR Capital Management LLC now owns 40,444 shares of the company’s stock valued at $1,061,000 after acquiring an additional 5,592 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.