ModivCare Inc. (NASDAQ:MODV) Major Shareholder Q Global Capital Management, L Purchases 38,292 Shares

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L bought 38,292 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average cost of $15.89 per share, for a total transaction of $608,459.88. Following the completion of the transaction, the insider now owns 1,620,394 shares in the company, valued at approximately $25,748,060.66. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 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 Friday, November 1st, Q Global Capital Management, L purchased 33,495 shares of ModivCare stock. The stock was purchased at an average cost of $16.15 per share, with a total value of $540,944.25.
• On Monday, October 28th, Q Global Capital Management, L acquired 25,496 shares of ModivCare stock. The stock was purchased at an average price 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 price of $14.65 per share, with a total value of $301,145.40.
• On Wednesday, October 23rd, Q Global Capital Management, L purchased 50,748 shares of ModivCare stock. The shares were acquired at an average price of $14.16 per share, for a total transaction of $718,591.68.

ModivCare Stock Performance

ModivCare stock traded up $0.01 during mid-day trading on Friday, hitting $16.18. 179,795 shares of the company’s stock were exchanged, compared to its average volume of 256,474. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 103.63. ModivCare Inc. has a 1-year low of $11.00 and a 1-year high of $52.33. The stock has a 50 day moving average of $18.86 and a two-hundred day moving average of $22.96.

ModivCare (NASDAQ:MODV) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.80). The business had revenue of $698.30 million during the quarter, compared to analyst estimates of $701.00 million. ModivCare had a negative net margin of 5.80% and a positive return on equity of 27.52%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.41 earnings per share. On average, equities analysts expect that ModivCare Inc. will post 1.06 EPS for the current year.

Institutional Investors Weigh In On ModivCare

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its position in shares of ModivCare by 5,522.7% in the second quarter. Nisa Investment Advisors LLC now owns 1,237 shares of the company’s stock valued at $32,000 after purchasing an additional 1,215 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of ModivCare in the second quarter valued at about $60,000. State Board of Administration of Florida Retirement System bought a new stake in shares of ModivCare in the first quarter valued at about $91,000. Central Pacific Bank Trust Division bought a new stake in shares of ModivCare in the first quarter valued at about $100,000. Finally, SG Americas Securities LLC bought a new stake in shares of ModivCare in the third quarter valued at about $102,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MODV. Jefferies Financial Group decreased their price objective on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating for the company in a report on Friday, September 13th. Barrington Research increased their target price on shares of ModivCare from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Finally, Lake Street Capital lowered their target price 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.