ModivCare Inc. (NASDAQ:MODV) Major Shareholder Buys $337,552.51 in Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L purchased 20,927 shares of ModivCare stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average cost of $16.13 per share, for a total transaction of $337,552.51. Following the completion of the purchase, the insider now owns 1,742,544 shares of the company’s stock, valued at $28,107,234.72. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own at least 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 Friday, November 1st, Q Global Capital Management, L bought 33,495 shares of ModivCare stock. The stock was acquired 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 purchased 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 acquired 25,496 shares of ModivCare stock. The stock was acquired 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 acquired 20,556 shares of ModivCare stock. The shares were 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 bought 50,748 shares of ModivCare stock. The stock was bought at an average cost of $14.16 per share, for a total transaction of $718,591.68.

ModivCare Stock Down 13.6 %

Shares of ModivCare stock opened at $15.55 on Friday. 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. The company’s 50 day moving average is $17.55 and its 200 day moving average is $22.76. The company has a market cap of $221.43 million, a price-to-earnings ratio of -1.21, a price-to-earnings-growth ratio of 2.20 and a beta of 0.47.

ModivCare (NASDAQ:MODV) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.80). ModivCare had a negative net margin of 6.57% and a positive return on equity of 18.50%. The firm had revenue of $698.30 million for the quarter, compared to the consensus estimate of $701.00 million. During the same period in the previous year, the company earned $1.41 earnings per share. ModivCare’s quarterly revenue was down .1% compared to the same quarter last year. Research analysts anticipate that ModivCare Inc. will post 1.06 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MODV. Nisa Investment Advisors LLC increased 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 purchasing an additional 1,215 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in ModivCare during the second quarter valued at approximately $60,000. State Board of Administration of Florida Retirement System purchased a new stake in ModivCare during the first quarter valued at approximately $91,000. Central Pacific Bank Trust Division bought a new position in ModivCare in the first quarter worth approximately $100,000. Finally, SG Americas Securities LLC purchased a new position in shares of ModivCare during the 3rd quarter worth $102,000.

Analyst Ratings Changes

A number of equities analysts recently issued reports 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 on the stock in a research note on Tuesday, September 17th. Jefferies Financial Group decreased their price target on ModivCare from $25.00 to $14.00 and set a “hold” rating for the company in a research note on Friday, September 13th. Finally, Barrington Research increased their price objective on ModivCare from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday.

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.