ModivCare Inc. (NASDAQ:MODV) Major Shareholder Buys $400,032.24 in Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L acquired 25,496 shares of the company’s stock in a transaction on Monday, October 28th. The stock was bought at an average cost of $15.69 per share, with a total value of $400,032.24. Following the completion of the acquisition, the insider now directly owns 1,545,890 shares in the company, valued at approximately $24,255,014.10. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at 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 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, for a total transaction of $301,145.40.
• On Wednesday, October 23rd, Q Global Capital Management, L acquired 50,748 shares of ModivCare stock. The shares were purchased at an average cost of $14.16 per share, with a total value of $718,591.68.

ModivCare Stock Performance

Shares of MODV remained flat at $15.48 during mid-day trading on Tuesday. 252,567 shares of the stock were exchanged, compared to its average volume of 256,981. The company has a market cap of $220.44 million, a P/E ratio of -1.37, a price-to-earnings-growth ratio of 1.87 and a beta of 0.49. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 103.63. The business’s fifty day moving average price is $19.45 and its 200 day moving average price is $23.11. ModivCare Inc. has a one year low of $11.00 and a one year high of $52.33.

ModivCare (NASDAQ:MODV) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.77 by ($0.80). The company had revenue of $698.30 million during the quarter, compared to the consensus estimate of $701.00 million. ModivCare had a negative net margin of 5.80% and a positive return on equity of 27.52%. ModivCare’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the company earned $1.41 EPS. As a group, equities analysts forecast that ModivCare Inc. will post 1.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ModivCare

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC increased its stake in shares of ModivCare by 83.2% in 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. bought a new stake in ModivCare during the 2nd quarter worth approximately $3,345,000. AYAL Capital Advisors Ltd increased its position in ModivCare by 42.1% in the 2nd 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 period. Renaissance Technologies LLC raised its stake in shares of ModivCare by 11.7% during the second 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 last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of ModivCare during the second quarter worth $581,000.

Analysts Set New Price Targets

Several equities analysts have recently commented on MODV shares. Jefferies Financial Group dropped their target price on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating for the company in a research report on Friday, September 13th. Lake Street Capital cut their target price on ModivCare from $50.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Finally, Barrington Research raised their target price on ModivCare from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd.

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.