ModivCare Inc. (NASDAQ:MODV) Major Shareholder Q Global Capital Management, L Buys 21,411 Shares of Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L bought 21,411 shares of ModivCare stock in a transaction on Tuesday, November 19th. The shares were bought at an average cost of $15.59 per share, with a total value of $333,797.49. Following the acquisition, the insider now directly owns 1,834,136 shares in the company, valued at approximately $28,594,180.24. This represents a 1.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major 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 Thursday, November 21st, Q Global Capital Management, L acquired 23,657 shares of ModivCare stock. The stock was purchased at an average price of $16.92 per share, with a total value of $400,276.44.
• On Thursday, November 7th, Q Global Capital Management, L bought 58,191 shares of ModivCare stock. The shares were purchased 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 shares were purchased at an average price of $16.13 per share, with a total value of $337,552.51.
• 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, for a total transaction of $540,944.25.
• On Wednesday, October 30th, Q Global Capital Management, L bought 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 bought 25,496 shares of ModivCare stock. The stock was bought 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 purchased 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 acquired 50,748 shares of ModivCare stock. The shares were bought at an average price of $14.16 per share, for a total transaction of $718,591.68.

ModivCare Trading Up 2.2 %

NASDAQ:MODV traded up $0.39 during trading hours on Friday, reaching $17.86. The company’s stock had a trading volume of 15,434 shares, compared to its average volume of 254,516. 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 firm has a market capitalization of $255.04 million, a price-to-earnings ratio of -1.35, a PEG ratio of 2.42 and a beta of 0.47. The firm has a 50-day simple moving average of $15.30 and a 200-day simple moving average of $22.30. ModivCare Inc. has a 1 year low of $11.00 and a 1 year high of $52.33.

ModivCare (NASDAQ:MODV) last released its quarterly earnings data 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 company had revenue of $702.04 million during the quarter, compared to analysts’ expectations of $711.28 million. During the same quarter in the prior year, the firm posted $1.35 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. Research analysts expect that ModivCare Inc. will post 0.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MODV shares. Barrington Research reissued an “outperform” rating and issued a $25.00 target price on shares of ModivCare in a research note on Monday. Jefferies Financial Group cut their price objective on ModivCare from $25.00 to $14.00 and set a “hold” rating for the company in a report on Friday, September 13th. Finally, Lake Street Capital decreased 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.

Institutional Trading of ModivCare

Several hedge funds and other institutional investors have recently bought and sold shares of MODV. HG Vora Capital Management LLC purchased a new position in shares of ModivCare in the third quarter worth $17,136,000. Millennium Management LLC boosted its position in ModivCare by 83.2% during the 2nd quarter. Millennium Management LLC now owns 841,295 shares of the company’s stock valued at $22,076,000 after buying an additional 381,995 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of ModivCare by 0.8% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 683,665 shares of the company’s stock valued at $17,939,000 after acquiring an additional 5,644 shares during the period. State Street Corp raised its stake in shares of ModivCare by 1.5% during 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. Finally, Renaissance Technologies LLC boosted its holdings in shares of ModivCare by 11.7% during the second quarter. Renaissance Technologies LLC now owns 304,299 shares of the company’s stock worth $7,985,000 after purchasing an additional 31,800 shares during the period.

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.