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

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L bought 21,411 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were bought at an average price of $15.59 per share, with a total value of $333,797.49. Following the transaction, the insider now directly owns 1,834,136 shares in the company, valued at $28,594,180.24. This trade represents a 1.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large 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 Thursday, November 21st, Q Global Capital Management, L acquired 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 Thursday, November 7th, Q Global Capital Management, L bought 58,191 shares of ModivCare stock. The stock was 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 stock was purchased at an average price of $16.13 per share, for a total transaction of $337,552.51.
• On Friday, November 1st, Q Global Capital Management, L bought 33,495 shares of ModivCare stock. The stock was purchased 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 shares were acquired at an average price 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 stock was acquired at an average price of $15.69 per share, with a total value of $400,032.24.
• On Friday, October 25th, Q Global Capital Management, L bought 20,556 shares of ModivCare stock. The shares were acquired at an average price of $14.65 per share, for a total transaction of $301,145.40.
• On Wednesday, October 23rd, Q Global Capital Management, L purchased 50,748 shares of ModivCare stock. The stock was acquired at an average cost of $14.16 per share, with a total value of $718,591.68.

ModivCare Stock Performance

Shares of NASDAQ:MODV opened at $17.79 on Friday. 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 market capitalization of $254.11 million, a P/E ratio of -1.38, a P/E/G ratio of 2.72 and a beta of 0.47. The business has a 50-day moving average price of $15.38 and a two-hundred day moving average price of $22.21.

ModivCare (NASDAQ:MODV) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $702.04 million for the quarter, compared to the consensus estimate of $711.28 million. During the same period last year, the firm earned $1.35 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. Equities analysts predict that ModivCare Inc. will post 0.64 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. HG Vora Capital Management LLC acquired a new stake in shares of ModivCare during the third quarter worth $17,136,000. Millennium Management LLC boosted its holdings in ModivCare by 83.2% during the second quarter. Millennium Management LLC now owns 841,295 shares of the company’s stock worth $22,076,000 after buying an additional 381,995 shares during the last quarter. K2 Principal Fund L.P. acquired a new position in shares of ModivCare during the 2nd quarter worth about $3,345,000. AYAL Capital Advisors Ltd increased its stake in shares of ModivCare by 42.1% in the 2nd quarter. AYAL Capital Advisors Ltd now owns 262,904 shares of the company’s stock valued at $6,899,000 after acquiring an additional 77,930 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of ModivCare by 11.7% in the 2nd quarter. Renaissance Technologies LLC now owns 304,299 shares of the company’s stock valued at $7,985,000 after acquiring an additional 31,800 shares during the period.

Wall Street Analysts Forecast Growth

MODV has been the subject of several research reports. Jefferies Financial Group lowered their price objective on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating for the company in a research report on Friday, September 13th. Lake Street Capital lowered their price target on shares of ModivCare from $50.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Finally, Barrington Research restated an “outperform” rating and issued a $25.00 price objective on shares of ModivCare in a research report on Monday, November 18th.

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.