Insider Buying: ModivCare Inc. (NASDAQ:MODV) Major Shareholder Buys 38,292 Shares of Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L purchased 38,292 shares of the stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average price of $15.89 per share, with a total value of $608,459.88. Following the completion of the acquisition, the insider now directly owns 1,620,394 shares in the company, valued at approximately $25,748,060.66. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 1st, Q Global Capital Management, L acquired 33,495 shares of ModivCare stock. The shares were bought at an average price 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 shares were bought 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 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.
• 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 Trading Up 0.1 %

Shares of ModivCare stock traded up $0.01 during trading on Friday, hitting $16.18. The stock had a trading volume of 179,795 shares, 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. The business has a fifty day moving average of $18.86 and a two-hundred day moving average of $22.96. ModivCare Inc. has a fifty-two week low of $11.00 and a fifty-two week high of $52.33.

ModivCare (NASDAQ:MODV) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.80). The firm 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 quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $1.41 EPS. As a group, analysts anticipate that ModivCare Inc. will post 1.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MODV has been the subject of several recent analyst reports. Barrington Research increased their price target on ModivCare from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Jefferies Financial Group decreased their price target on ModivCare from $25.00 to $14.00 and set a “hold” rating for the company in a research note on Friday, September 13th. Finally, Lake Street Capital decreased their price target on ModivCare from $50.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th.

Institutional Investors Weigh In On ModivCare

Several hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its position in ModivCare by 5,522.7% during the second quarter. Nisa Investment Advisors LLC now owns 1,237 shares of the company’s stock valued at $32,000 after buying an additional 1,215 shares during the period. Canada Pension Plan Investment Board acquired a new position in ModivCare during the second quarter valued at $60,000. State Board of Administration of Florida Retirement System acquired a new position in ModivCare during the first quarter valued at $91,000. Central Pacific Bank Trust Division acquired a new position in ModivCare during the first quarter valued at $100,000. Finally, SG Americas Securities LLC acquired a new position in ModivCare during the third quarter valued at $102,000.

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.