ModivCare Inc. (NASDAQ:MODV) Major Shareholder Q Global Capital Management, L Buys 58,191 Shares

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L purchased 58,191 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were purchased at an average cost of $17.13 per share, with a total value of $996,811.83. Following the completion of the purchase, the insider now owns 1,812,725 shares in the company, valued at $31,051,979.25. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% 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 Monday, November 4th, Q Global Capital Management, L acquired 20,927 shares of ModivCare stock. The stock was purchased 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 acquired at an average price 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 price 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 cost of $15.69 per share, for a total transaction of $400,032.24.
• On Friday, October 25th, Q Global Capital Management, L bought 20,556 shares of ModivCare stock. The shares were acquired at an average price 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 bought at an average price of $14.16 per share, with a total value of $718,591.68.

ModivCare Stock Performance

MODV stock opened at $17.08 on Wednesday. The firm has a 50 day simple moving average of $17.04 and a 200 day simple moving average of $22.65. ModivCare Inc. has a 52 week low of $11.00 and a 52 week high of $52.33. The stock has a market cap of $243.22 million, a P/E ratio of -1.33, a P/E/G ratio of 2.02 and a beta of 0.47. 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 posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). ModivCare had a positive return on equity of 26.14% and a negative net margin of 6.57%. The company had revenue of $702.04 million during the quarter, compared to analyst estimates of $711.28 million. During the same period last year, the company posted $1.35 earnings per share. The company’s revenue was up 2.2% compared to the same quarter last year. Research analysts anticipate that ModivCare Inc. will post 1.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MODV has been the topic of a number of recent analyst reports. Barrington Research boosted their target price on ModivCare from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Lake Street Capital cut their price objective 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 decreased 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

Large investors have recently made changes to their positions in the company. Millennium Management LLC raised its position in ModivCare by 83.2% during the second quarter. Millennium Management LLC now owns 841,295 shares of the company’s stock valued at $22,076,000 after acquiring an additional 381,995 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of ModivCare by 0.8% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 683,665 shares of the company’s stock worth $17,939,000 after purchasing an additional 5,644 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of ModivCare by 11.7% during the 2nd quarter. Renaissance Technologies LLC now owns 304,299 shares of the company’s stock valued at $7,985,000 after purchasing an additional 31,800 shares in the last quarter. AYAL Capital Advisors Ltd lifted its stake in shares of ModivCare by 42.1% in the 2nd 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 during the last quarter. Finally, K2 Principal Fund L.P. bought a new stake in ModivCare in the second quarter worth $3,345,000.

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.