ModivCare Inc. (NASDAQ:MODV) Major Shareholder Acquires $48,384.57 in Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L purchased 3,837 shares of the stock in a transaction dated Friday, January 10th. The stock was bought at an average cost of $12.61 per share, with a total value of $48,384.57. Following the completion of the purchase, the insider now owns 1,970,935 shares in the company, valued at $24,853,490.35. The trade was a 0.20 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 Monday, January 13th, Q Global Capital Management, L sold 262,532 shares of ModivCare stock. The shares were sold at an average price of $6.53, for a total transaction of $1,714,333.96.
• On Friday, December 6th, Q Global Capital Management, L purchased 9,210 shares of ModivCare stock. The shares were purchased at an average cost of $17.73 per share, for a total transaction of $163,293.30.
• On Wednesday, December 4th, Q Global Capital Management, L acquired 3,352 shares of ModivCare stock. The stock was purchased at an average price of $17.74 per share, with a total value of $59,464.48.
• On Monday, December 2nd, Q Global Capital Management, L bought 1,583 shares of ModivCare stock. The shares were acquired at an average price of $17.75 per share, for a total transaction of $28,098.25.
• 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 price 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 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 purchased 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 acquired 58,191 shares of ModivCare stock. The shares were bought 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 bought 20,927 shares of ModivCare stock. The stock was bought at an average cost of $16.13 per share, with a total value of $337,552.51.

ModivCare Price Performance

NASDAQ:MODV opened at $6.65 on Tuesday. ModivCare Inc. has a 52-week low of $6.32 and a 52-week high of $52.33. The company has a market cap 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 company has a debt-to-equity ratio of 103.63, a quick ratio of 0.80 and a current ratio of 0.80. The stock’s 50-day simple moving average is $14.88 and its 200 day simple moving average is $18.95.

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 the consensus estimate of $0.49 by ($0.04). The company had revenue of $702.04 million for the quarter, compared to analyst estimates of $711.28 million. ModivCare had a positive return on equity of 26.14% and a negative net margin of 6.57%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $1.35 EPS. As a group, sell-side analysts forecast that ModivCare Inc. will post 0.64 EPS for the current fiscal year.

Institutional Trading of ModivCare

Several institutional investors and hedge funds have recently added to or reduced their stakes in MODV. Quest Partners LLC increased its stake in shares of ModivCare by 49.9% during the 2nd quarter. Quest Partners LLC now owns 4,003 shares of the company’s stock worth $105,000 after purchasing an additional 1,332 shares during the last quarter. American Century Companies Inc. grew its holdings in ModivCare by 9.5% during the second quarter. American Century Companies Inc. now owns 19,916 shares of the company’s stock worth $523,000 after purchasing an additional 1,726 shares during the period. Canada Pension Plan Investment Board acquired a new position in ModivCare during the second quarter worth approximately $60,000. FMR LLC raised its stake in ModivCare by 227.5% in the third quarter. FMR LLC now owns 3,825 shares of the company’s stock valued at $55,000 after buying an additional 2,657 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of ModivCare in the third quarter valued at approximately $43,000.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MODV. Barrington Research restated an “outperform” rating and issued a $25.00 price target on shares of ModivCare in a report on Monday, November 18th. Lake Street Capital cut their target price on ModivCare from $30.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Stephens reaffirmed an “equal weight” rating and set a $17.00 price target (down previously from $21.00) on shares of ModivCare in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.