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 the stock in a transaction on Monday, November 4th. The stock was acquired at an average price of $16.13 per share, with a total value of $337,552.51. Following the completion of the acquisition, the insider now directly owns 1,742,544 shares of the company’s stock, valued at approximately $28,107,234.72. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares 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 acquired 33,495 shares of ModivCare stock. The stock was acquired at an average price of $16.15 per share, with a total value of $540,944.25.
• On Wednesday, October 30th, Q Global Capital Management, L purchased 38,292 shares of ModivCare stock. The stock was bought at an average cost of $15.89 per share, for a total transaction of $608,459.88.
• On Monday, October 28th, Q Global Capital Management, L acquired 25,496 shares of ModivCare stock. The shares were bought at an average cost of $15.69 per share, with a total value of $400,032.24.
• On Friday, October 25th, Q Global Capital Management, L acquired 20,556 shares of ModivCare stock. The stock was bought 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 bought 50,748 shares of ModivCare stock. The shares were purchased at an average price of $14.16 per share, with a total value of $718,591.68.

ModivCare Stock Up 4.1 %

MODV traded up $0.67 on Wednesday, hitting $16.95. 348,124 shares of the company were exchanged, compared to its average volume of 256,596. The stock’s fifty day moving average is $18.20 and its 200-day moving average is $22.88. ModivCare Inc. has a 12 month low of $11.00 and a 12 month high of $52.33. The company has a debt-to-equity ratio of 103.63, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $241.37 million, a PE ratio of -1.50, a PEG ratio of 2.12 and a beta of 0.47.

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

Institutional Trading of ModivCare

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC increased its stake in shares of ModivCare by 3.8% during the 2nd quarter. SummerHaven Investment Management LLC now owns 14,511 shares of the company’s stock worth $381,000 after purchasing an additional 530 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in ModivCare by 3.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,483 shares of the company’s stock worth $481,000 after buying an additional 608 shares during the last quarter. Nisa Investment Advisors LLC increased its position in ModivCare by 5,522.7% during the second quarter. Nisa Investment Advisors LLC now owns 1,237 shares of the company’s stock worth $32,000 after buying an additional 1,215 shares during the last quarter. Quest Partners LLC raised its stake in ModivCare by 49.9% in the second quarter. Quest Partners LLC now owns 4,003 shares of the company’s stock valued at $105,000 after buying an additional 1,332 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of ModivCare by 9.5% in the second quarter. American Century Companies Inc. now owns 19,916 shares of the company’s stock valued at $523,000 after buying an additional 1,726 shares during the last quarter.

Analyst Ratings Changes

Several research firms have recently weighed in on MODV. Barrington Research upped their price objective on ModivCare from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Jefferies Financial Group decreased their price target on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating for the company in a research note on Friday, September 13th. Finally, Lake Street Capital cut their price objective on shares of ModivCare from $50.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th.

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.