Q Global Capital Management, L Buys 1,583 Shares of ModivCare Inc. (NASDAQ:MODV) Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L bought 1,583 shares of ModivCare stock in a transaction on Monday, December 2nd. The shares were purchased at an average cost of $17.75 per share, with a total value of $28,098.25. Following the completion of the purchase, the insider now directly owns 1,921,633 shares in the company, valued at $34,108,985.75. This trade represents a 0.08 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major 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, November 29th, Q Global Capital Management, L purchased 198 shares of ModivCare stock. The shares were acquired 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 acquired 126 shares of ModivCare stock. The stock was acquired 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 bought 23,657 shares of ModivCare stock. The shares were acquired 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 purchased 21,411 shares of ModivCare stock. The stock was acquired 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 shares were bought 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 stock was bought 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 bought 33,495 shares of ModivCare stock. The shares were purchased at an average cost of $16.15 per share, for a total transaction of $540,944.25.
• On Wednesday, October 30th, Q Global Capital Management, L acquired 38,292 shares of ModivCare stock. The stock was purchased at an average cost of $15.89 per share, for a total transaction of $608,459.88.
• On Monday, October 28th, Q Global Capital Management, L bought 25,496 shares of ModivCare stock. The shares were purchased 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 acquired at an average cost of $14.65 per share, with a total value of $301,145.40.

ModivCare Stock Down 1.5 %

Shares of MODV traded down $0.28 during mid-day trading on Monday, reaching $18.51. The company’s stock had a trading volume of 246,564 shares, compared to its average volume of 252,994. ModivCare Inc. has a 1 year low of $11.00 and a 1 year high of $52.33. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 103.63. The company has a market cap of $264.40 million, a price-to-earnings ratio of -1.44, a price-to-earnings-growth ratio of 2.92 and a beta of 0.47. The business has a fifty day moving average of $15.89 and a 200 day moving average of $21.88.

ModivCare (NASDAQ:MODV) last issued its 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). 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%. ModivCare’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.35 EPS. As a group, analysts forecast that ModivCare Inc. will post 0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ModivCare

A number of institutional investors have recently modified their holdings of MODV. HG Vora Capital Management LLC bought a new stake in ModivCare during the third quarter worth approximately $17,136,000. Millennium Management LLC raised its position in ModivCare by 83.2% in the second quarter. Millennium Management LLC now owns 841,295 shares of the company’s stock worth $22,076,000 after purchasing an additional 381,995 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in ModivCare by 0.8% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 683,665 shares of the company’s stock worth $17,939,000 after purchasing an additional 5,644 shares during the period. State Street Corp boosted its holdings in 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 purchasing an additional 5,115 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake 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 purchasing an additional 31,800 shares during the period.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barrington Research reissued an “outperform” rating and set a $25.00 target price on shares of ModivCare in a research note on Monday, November 18th. Lake Street Capital reduced their price objective on ModivCare from $50.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Finally, Jefferies Financial Group cut their target price on ModivCare from $25.00 to $14.00 and set a “hold” rating on the stock in a research report on Friday, September 13th.

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.