ModivCare Inc. (NASDAQ:MODV) Major Shareholder Q Global Capital Management, L Buys 3,837 Shares of Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L bought 3,837 shares of the business’s stock in a transaction on Friday, January 10th. The shares were purchased at an average cost of $12.61 per share, with a total value of $48,384.57. Following the transaction, the insider now owns 1,970,935 shares in the company, valued at approximately $24,853,490.35. The trade was a 0.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Q Global Capital Management, L also recently made the following trade(s):

• On Monday, January 13th, Q Global Capital Management, L sold 262,532 shares of ModivCare stock. The stock was sold at an average price of $6.53, for a total value of $1,714,333.96.
• On Friday, December 6th, Q Global Capital Management, L bought 9,210 shares of ModivCare stock. The shares were acquired at an average price of $17.73 per share, with a total value of $163,293.30.
• On Wednesday, December 4th, Q Global Capital Management, L purchased 3,352 shares of ModivCare stock. The stock was acquired at an average cost of $17.74 per share, for a total transaction of $59,464.48.
• On Monday, December 2nd, Q Global Capital Management, L acquired 1,583 shares of ModivCare stock. The stock was acquired 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 bought 198 shares of ModivCare stock. The shares were bought at an average price of $17.75 per share, with a total value of $3,514.50.
• On Wednesday, November 27th, Q Global Capital Management, L purchased 126 shares of ModivCare stock. The stock was bought 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 acquired 23,657 shares of ModivCare stock. The shares were bought at an average price of $16.92 per share, for a total transaction of $400,276.44.
• On Tuesday, November 19th, Q Global Capital Management, L bought 21,411 shares of ModivCare stock. The stock was bought at an average price of $15.59 per share, with a total value of $333,797.49.
• On Thursday, November 7th, Q Global Capital Management, L purchased 58,191 shares of ModivCare stock. The shares were purchased at an average price 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 purchased at an average cost of $16.13 per share, for a total transaction of $337,552.51.

ModivCare Stock Performance

ModivCare stock opened at $6.65 on Tuesday. The firm has a market capitalization of $94.99 million, a P/E ratio of -0.52, a P/E/G ratio of 2.77 and a beta of 0.60. The stock has a fifty day moving average price of $14.88 and a two-hundred day moving average price of $18.95. ModivCare Inc. has a 52-week low of $6.32 and a 52-week high of $52.33. The company has a debt-to-equity ratio of 103.63, a current ratio of 0.80 and a quick ratio of 0.80.

ModivCare (NASDAQ:MODV) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.04). ModivCare had a negative net margin of 6.57% and a positive return on equity of 26.14%. The company had revenue of $702.04 million during the quarter, compared to analyst estimates of $711.28 million. During the same quarter in the previous year, the business posted $1.35 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. As a group, analysts anticipate that ModivCare Inc. will post 0.64 EPS for the current fiscal year.

Institutional Investors Weigh In On ModivCare

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

Wall Street Analysts Forecast Growth

MODV has been the subject of several research reports. Stephens reaffirmed an “equal weight” rating and issued a $17.00 target price (down from $21.00) on shares of ModivCare in a research report on Friday. Barrington Research reaffirmed an “outperform” rating and set a $25.00 price objective on shares of ModivCare in a report on Monday, November 18th. Finally, Lake Street Capital lowered their target price on shares of ModivCare from $30.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $21.20.

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.