Insider Buying: ModivCare Inc. (NASDAQ:MODV) Major Shareholder Acquires 3,837 Shares of Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L purchased 3,837 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were purchased at an average price of $12.61 per share, with a total value of $48,384.57. Following the purchase, the insider now directly owns 1,970,935 shares in the company, valued at $24,853,490.35. This trade represents a 0.20 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 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 Monday, January 13th, Q Global Capital Management, L sold 262,532 shares of ModivCare stock. The stock was sold at an average price of $6.53, for a total transaction of $1,714,333.96.
• On Friday, December 6th, Q Global Capital Management, L purchased 9,210 shares of ModivCare stock. The shares were acquired at an average price of $17.73 per share, for a total transaction of $163,293.30.
• On Wednesday, December 4th, Q Global Capital Management, L acquired 3,352 shares of ModivCare stock. The stock was acquired at an average price of $17.74 per share, with a total value of $59,464.48.
• On Monday, December 2nd, Q Global Capital Management, L bought 1,583 shares of ModivCare stock. The shares were bought at an average price of $17.75 per share, for a total transaction of $28,098.25.
• On Friday, November 29th, Q Global Capital Management, L purchased 198 shares of ModivCare stock. The stock was bought at an average price of $17.75 per share, with a total value of $3,514.50.
• On Wednesday, November 27th, Q Global Capital Management, L acquired 126 shares of ModivCare stock. The shares were bought at an average cost of $17.74 per share, for a total transaction of $2,235.24.
• On Thursday, November 21st, Q Global Capital Management, L bought 23,657 shares of ModivCare stock. The shares were bought at an average cost of $16.92 per share, with a total value of $400,276.44.
• On Tuesday, November 19th, Q Global Capital Management, L purchased 21,411 shares of ModivCare stock. The shares were bought at an average price of $15.59 per share, for a total transaction of $333,797.49.
• On Thursday, November 7th, Q Global Capital Management, L acquired 58,191 shares of ModivCare stock. The stock was purchased at an average price of $17.13 per share, with a total value of $996,811.83.
• On Monday, November 4th, Q Global Capital Management, L bought 20,927 shares of ModivCare stock. The stock was purchased at an average price of $16.13 per share, for a total transaction of $337,552.51.

ModivCare Price Performance

NASDAQ:MODV traded up $0.09 during midday trading on Monday, hitting $6.65. The company had a trading volume of 1,553,357 shares, compared to its average volume of 748,006. The company has a market capitalization of $94.99 million, a PE ratio of -0.52, a P/E/G ratio of 2.77 and a beta of 0.60. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 103.63. ModivCare Inc. has a 52-week low of $6.32 and a 52-week high of $52.33. The stock’s fifty day moving average price is $15.07 and its 200-day moving average price is $19.08.

ModivCare (NASDAQ:MODV) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). The firm had revenue of $702.04 million during the quarter, compared to analysts’ expectations of $711.28 million. ModivCare had a positive return on equity of 26.14% and a negative net margin of 6.57%. ModivCare’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.35 earnings per share. As a group, research analysts expect that ModivCare Inc. will post 0.64 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MODV. Wilmington Savings Fund Society FSB purchased a new position in shares of ModivCare during the third quarter worth approximately $43,000. Barclays PLC grew its holdings in shares of ModivCare by 249.4% during the 3rd quarter. Barclays PLC now owns 15,235 shares of the company’s stock valued at $218,000 after purchasing an additional 10,875 shares during the last quarter. K2 Principal Fund L.P. raised its position in ModivCare by 24.6% in the 3rd quarter. K2 Principal Fund L.P. now owns 158,820 shares of the company’s stock worth $2,268,000 after purchasing an additional 31,334 shares during the period. State Street Corp lifted its stake in ModivCare by 1.5% in the third quarter. State Street Corp now owns 349,750 shares of the company’s stock worth $4,994,000 after purchasing an additional 5,115 shares during the last quarter. Finally, Repertoire Partners LP purchased a new stake in ModivCare during the third quarter valued at about $178,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Lake Street Capital reduced their price target on shares of ModivCare from $30.00 to $10.00 and set a “buy” rating for the company in a research report on Monday. Stephens restated an “equal weight” rating and set a $17.00 target price (down from $21.00) on shares of ModivCare in a research report on Friday. Finally, Barrington Research restated an “outperform” rating and issued a $25.00 target price on shares of ModivCare in a research note on Monday, November 18th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $21.20.

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.