ModivCare Inc. (NASDAQ:MODV) Major Shareholder Purchases $59,464.48 in Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L acquired 3,352 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were bought at an average cost of $17.74 per share, for a total transaction of $59,464.48. Following the acquisition, the insider now owns 1,924,985 shares of the company’s stock, valued at $34,149,233.90. This represents a 0.17 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 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 Friday, December 6th, Q Global Capital Management, L bought 9,210 shares of ModivCare stock. The stock was bought at an average cost of $17.73 per share, for a total transaction of $163,293.30.
• On Monday, December 2nd, Q Global Capital Management, L purchased 1,583 shares of ModivCare stock. The stock was bought at an average cost of $17.75 per share, with a total value of $28,098.25.
• On Friday, November 29th, Q Global Capital Management, L acquired 198 shares of ModivCare stock. The shares were purchased at an average cost of $17.75 per share, for a total transaction of $3,514.50.
• On Wednesday, November 27th, Q Global Capital Management, L bought 126 shares of ModivCare stock. The stock was purchased at an average cost of $17.74 per share, with a total value of $2,235.24.
• On Thursday, November 21st, Q Global Capital Management, L purchased 23,657 shares of ModivCare stock. The shares were purchased at an average cost of $16.92 per share, for a total transaction of $400,276.44.
• On Tuesday, November 19th, Q Global Capital Management, L acquired 21,411 shares of ModivCare stock. The stock was purchased 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 stock was acquired 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 acquired 20,927 shares of ModivCare stock. The shares were acquired 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 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.

ModivCare Stock Performance

MODV traded up $0.32 during trading on Friday, reaching $18.07. The company’s stock had a trading volume of 165,592 shares, compared to its average volume of 250,747. 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’s fifty day moving average price is $16.38 and its 200-day moving average price is $21.69. ModivCare Inc. has a 52-week low of $11.00 and a 52-week high of $52.33. The company has a market capitalization of $258.11 million, a price-to-earnings ratio of -1.38, a price-to-earnings-growth ratio of 2.80 and a beta of 0.52.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MODV. HG Vora Capital Management LLC purchased a new stake in ModivCare during the 3rd quarter worth $17,136,000. Millennium Management LLC grew its stake in shares of 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. K2 Principal Fund L.P. purchased a new stake in shares of ModivCare during the second quarter worth about $3,345,000. AYAL Capital Advisors Ltd boosted its holdings in ModivCare by 42.1% in the second 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, Renaissance Technologies LLC boosted its holdings in ModivCare by 11.7% in the second 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 during the last quarter.

Analyst Ratings Changes

Several analysts have commented on MODV shares. Barrington Research reaffirmed an “outperform” rating and set a $25.00 price objective on shares of ModivCare in a research note on Monday, November 18th. Jefferies Financial Group decreased their price target 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 lowered 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.

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.