ModivCare Inc. (NASDAQ:MODV) Major Shareholder Acquires $400,276.44 in Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L purchased 23,657 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was acquired at an average price of $16.92 per share, with a total value of $400,276.44. Following the completion of the transaction, the insider now owns 1,889,248 shares of the company’s stock, valued at $31,966,076.16. This represents a 1.27 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, November 19th, Q Global Capital Management, L acquired 21,411 shares of ModivCare stock. The stock was bought at an average cost of $15.59 per share, with a total value of $333,797.49.
• On Thursday, November 7th, Q Global Capital Management, L bought 58,191 shares of ModivCare stock. The shares were bought at an average cost of $17.13 per share, for a total transaction of $996,811.83.
• On Monday, November 4th, Q Global Capital Management, L purchased 20,927 shares of ModivCare stock. The stock was bought at an average cost of $16.13 per share, with a total value of $337,552.51.
• On Friday, November 1st, Q Global Capital Management, L bought 33,495 shares of ModivCare stock. The stock was purchased 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 purchased 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 purchased 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 stock was acquired at an average cost 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 stock was acquired at an average price of $14.16 per share, for a total transaction of $718,591.68.

ModivCare Stock Performance

Shares of MODV stock opened at $17.79 on Friday. The firm has a market capitalization of $254.11 million, a price-to-earnings ratio of -1.38, a PEG ratio of 2.72 and a beta of 0.47. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 103.63. The business’s 50-day moving average price is $15.38 and its 200-day moving average price is $22.21. ModivCare Inc. has a 12 month low of $11.00 and a 12 month high of $52.33.

ModivCare (NASDAQ:MODV) last posted 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). ModivCare had a positive return on equity of 26.14% and a negative net margin of 6.57%. The business had revenue of $702.04 million for the quarter, compared to analyst estimates of $711.28 million. During the same quarter in the prior year, the business earned $1.35 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. Equities research analysts forecast that ModivCare Inc. will post 0.64 EPS for the current year.

Institutional Trading of ModivCare

Several institutional investors have recently modified their holdings of the business. Barclays PLC lifted its holdings in ModivCare by 249.4% during the 3rd quarter. Barclays PLC now owns 15,235 shares of the company’s stock worth $218,000 after buying an additional 10,875 shares during the period. K2 Principal Fund L.P. lifted its stake in shares of ModivCare by 24.6% in the third quarter. K2 Principal Fund L.P. now owns 158,820 shares of the company’s stock worth $2,268,000 after acquiring an additional 31,334 shares during the period. State Street Corp boosted its holdings in ModivCare by 1.5% in the third quarter. State Street Corp now owns 349,750 shares of the company’s stock valued at $4,994,000 after acquiring an additional 5,115 shares during the last quarter. Repertoire Partners LP acquired a new stake in ModivCare during the 3rd quarter valued at approximately $178,000. Finally, HG Vora Capital Management LLC bought a new position in ModivCare during the 3rd quarter worth approximately $17,136,000.

Analysts Set New Price Targets

MODV has been the topic of several research analyst reports. Lake Street Capital reduced their price objective on 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 reduced their price target on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating on the stock in a research note on Friday, September 13th. Finally, Barrington Research reiterated an “outperform” rating and set a $25.00 price objective on shares of ModivCare in a research report on Monday, November 18th.

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.