ModivCare Inc. (NASDAQ:MODV) Major Shareholder Q Global Capital Management, L Acquires 58,191 Shares

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L purchased 58,191 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was bought at an average price of $17.13 per share, with a total value of $996,811.83. Following the completion of the acquisition, the insider now owns 1,812,725 shares in the company, valued at $31,051,979.25. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own 10% or more 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, November 4th, Q Global Capital Management, L purchased 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 acquired 33,495 shares of ModivCare stock. The stock was purchased at an average cost of $16.15 per share, with a total value of $540,944.25.
• On Wednesday, October 30th, Q Global Capital Management, L bought 38,292 shares of ModivCare stock. The shares were acquired 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 acquired 25,496 shares of ModivCare stock. The shares were acquired at an average price 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 bought at an average price of $14.65 per share, with a total value of $301,145.40.
• On Wednesday, October 23rd, Q Global Capital Management, L acquired 50,748 shares of ModivCare stock. The shares were bought at an average cost of $14.16 per share, with a total value of $718,591.68.

ModivCare Stock Performance

Shares of MODV stock opened at $17.08 on Wednesday. The company has a market cap of $243.22 million, a P/E ratio of -1.33, a PEG ratio of 2.02 and a beta of 0.47. The business has a 50 day moving average of $17.04 and a two-hundred day moving average of $22.65. ModivCare Inc. has a 52 week low of $11.00 and a 52 week 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.

ModivCare (NASDAQ:MODV) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $702.04 million for the quarter, compared to analyst estimates of $711.28 million. During the same quarter in the prior year, the firm earned $1.35 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, analysts anticipate that ModivCare Inc. will post 1.06 EPS for the current year.

Wall Street Analysts Forecast Growth

MODV has been the topic of several research analyst reports. Jefferies Financial Group reduced their price target on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating on the stock in a research report on Friday, September 13th. Barrington Research increased their price target on shares of ModivCare from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Lake Street Capital reduced their price target on shares of ModivCare from $50.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its holdings in shares of 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 last quarter. Canada Pension Plan Investment Board bought a new stake in ModivCare during the 2nd quarter valued at $60,000. State Board of Administration of Florida Retirement System bought a new position in shares of ModivCare in the first quarter worth $91,000. Quest Partners LLC increased 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, Advisors Preferred LLC bought a new stake in shares of ModivCare during the first quarter valued at about $159,000.

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.