Insider Buying: ModivCare Inc. (NASDAQ:MODV) Major Shareholder Purchases 3,837 Shares of Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L acquired 3,837 shares of the stock in a transaction dated Friday, January 10th. The shares were bought at an average price of $12.61 per share, with a total value of $48,384.57. Following the completion of the transaction, the insider now directly owns 1,970,935 shares of the company’s stock, valued at $24,853,490.35. The trade was a 0.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares 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 acquired 9,210 shares of ModivCare stock. The stock was 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 purchased 3,352 shares of ModivCare stock. The shares were acquired 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 cost of $17.75 per share, with a total value of $28,098.25.
• On Friday, November 29th, Q Global Capital Management, L purchased 198 shares of ModivCare stock. The stock was 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 bought 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 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 bought 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 acquired 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 bought 20,927 shares of ModivCare stock. The stock was purchased at an average cost of $16.13 per share, with a total value of $337,552.51.

ModivCare Stock Up 1.4 %

Shares of NASDAQ MODV traded up $0.09 during trading on Monday, hitting $6.65. The stock had a trading volume of 1,553,357 shares, compared to its average volume of 748,006. The firm has a fifty day moving average of $15.07 and a two-hundred day moving average of $19.08. The company has a market capitalization of $94.99 million, a PE ratio of -0.52, a PEG ratio of 2.77 and a beta of 0.60. 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 12 month low of $6.32 and a 12 month high of $52.33.

ModivCare (NASDAQ:MODV) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.45 EPS 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 firm had revenue of $702.04 million during the quarter, compared to analysts’ expectations of $711.28 million. During the same quarter last year, the business posted $1.35 EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts forecast that ModivCare Inc. will post 0.64 EPS for the current fiscal year.

Institutional Trading of ModivCare

A number of hedge funds have recently bought and sold shares of the business. HG Vora Capital Management LLC purchased a new stake in shares of ModivCare during the 3rd quarter valued at $17,136,000. Millennium Management LLC grew its position in ModivCare by 83.2% during the second quarter. Millennium Management LLC now owns 841,295 shares of the company’s stock valued at $22,076,000 after buying an additional 381,995 shares during the period. K2 Principal Fund L.P. purchased a new stake in ModivCare during the second quarter worth about $3,345,000. AYAL Capital Advisors Ltd boosted its stake in ModivCare by 42.1% in the second quarter. AYAL Capital Advisors Ltd now owns 262,904 shares of the company’s stock valued at $6,899,000 after acquiring an additional 77,930 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of ModivCare by 11.7% during the 2nd quarter. Renaissance Technologies LLC now owns 304,299 shares of the company’s stock valued at $7,985,000 after acquiring an additional 31,800 shares during the period.

Wall Street Analysts Forecast Growth

MODV has been the subject of several research reports. Barrington Research reissued an “outperform” rating and issued a $25.00 price target on shares of ModivCare in a research report on Monday, November 18th. Stephens reiterated an “equal weight” rating and set a $17.00 price objective (down from $21.00) on shares of ModivCare in a report on Friday. 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 report on Monday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $21.20.

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.