ModivCare Inc. (NASDAQ:MODV) Major Shareholder Acquires $718,591.68 in Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L acquired 50,748 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was purchased at an average cost of $14.16 per share, for a total transaction of $718,591.68. Following the completion of the purchase, the insider now directly owns 1,475,038 shares of the company’s stock, valued at $20,886,538.08. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

ModivCare Trading Up 0.4 %

Shares of ModivCare stock traded up $0.06 during trading on Friday, hitting $14.41. The company’s stock had a trading volume of 111,696 shares, compared to its average volume of 257,012. 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 Inc. has a 52 week low of $11.00 and a 52 week high of $52.33. The stock has a market cap of $204.78 million, a price-to-earnings ratio of -0.92, a price-to-earnings-growth ratio of 1.82 and a beta of 0.49. The stock has a 50-day moving average price of $19.90 and a two-hundred day moving average price of $23.23.

ModivCare (NASDAQ:MODV) last issued 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). ModivCare had a positive return on equity of 27.52% and a negative net margin of 5.80%. The business had revenue of $698.30 million during the quarter, compared to the consensus estimate of $701.00 million. During the same period in the prior year, the firm earned $1.41 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. Equities research analysts anticipate that ModivCare Inc. will post 1.06 EPS for the current fiscal year.

Institutional Trading of ModivCare

Several institutional investors have recently modified their holdings of MODV. Nisa Investment Advisors LLC lifted its holdings in ModivCare by 5,522.7% in 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 shares of ModivCare during the second quarter valued at about $60,000. State Board of Administration of Florida Retirement System acquired a new position in shares of ModivCare during the first quarter valued at about $91,000. Quest Partners LLC raised its holdings in shares of ModivCare by 49.9% during the second quarter. Quest Partners LLC now owns 4,003 shares of the company’s stock valued at $105,000 after purchasing an additional 1,332 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new position in shares of ModivCare during the first quarter valued at about $100,000.

Analyst Ratings Changes

A number of brokerages recently issued reports on MODV. Barrington Research lifted their price objective on shares of ModivCare from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Lake Street Capital decreased their price objective on shares of ModivCare from $50.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Finally, Jefferies Financial Group decreased their target price on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating on the stock in a research note 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.