ModivCare Inc. (NASDAQ:MODV) Major Shareholder Purchases $301,145.40 in Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L purchased 20,556 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were bought at an average price of $14.65 per share, with a total value of $301,145.40. Following the purchase, the insider now owns 1,520,394 shares in the company, valued at $22,273,772.10. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major 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, October 28th, Q Global Capital Management, L purchased 25,496 shares of ModivCare stock. The shares were purchased at an average price of $15.69 per share, with a total value of $400,032.24.
• On Wednesday, October 23rd, Q Global Capital Management, L acquired 50,748 shares of ModivCare stock. The shares were acquired at an average cost of $14.16 per share, for a total transaction of $718,591.68.

ModivCare Price Performance

Shares of NASDAQ:MODV opened at $16.17 on Friday. The company has a 50 day moving average of $18.86 and a 200 day moving average of $22.96. 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 stock has a market cap of $230.26 million, a P/E ratio of -1.43, a P/E/G ratio of 1.87 and a beta of 0.49. ModivCare Inc. has a 12 month low of $11.00 and a 12 month high of $52.33.

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

Hedge Funds Weigh In On ModivCare

A number of institutional investors have recently added to or reduced their stakes in MODV. Central Pacific Bank Trust Division purchased a new position in shares of ModivCare during the first quarter worth about $100,000. Steamboat Capital Partners LLC bought a new stake in ModivCare during the first quarter valued at approximately $495,000. Advisors Preferred LLC purchased a new position in ModivCare in the 1st quarter worth approximately $159,000. State Board of Administration of Florida Retirement System bought a new position in shares of ModivCare in the 1st quarter worth $91,000. Finally, Bessemer Group Inc. raised its position in shares of ModivCare by 46.7% during the 1st quarter. Bessemer Group Inc. now owns 7,145 shares of the company’s stock valued at $168,000 after buying an additional 2,274 shares in the last quarter.

Analysts Set New Price Targets

MODV has been the subject of several analyst reports. Lake Street Capital cut their price objective on shares of ModivCare from $50.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Barrington Research raised their price target on ModivCare from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Finally, Jefferies Financial Group decreased their price objective on 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.