ModivCare Inc. (NASDAQ:MODV) Major Shareholder Purchases $48,384.57 in Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L acquired 3,837 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were purchased at an average price of $12.61 per share, for a total transaction of $48,384.57. Following the completion of the transaction, the insider now directly owns 1,970,935 shares in the company, valued at approximately $24,853,490.35. This trade represents a 0.20 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Major 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 value of $1,714,333.96.
• On Friday, December 6th, Q Global Capital Management, L acquired 9,210 shares of ModivCare stock. The stock was acquired at an average cost of $17.73 per share, with a total value of $163,293.30.
• On Wednesday, December 4th, Q Global Capital Management, L bought 3,352 shares of ModivCare stock. The shares were acquired at an average cost of $17.74 per share, for a total transaction of $59,464.48.
• On Monday, December 2nd, Q Global Capital Management, L purchased 1,583 shares of ModivCare stock. The stock was acquired at an average price 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 bought at an average price of $17.75 per share, for a total transaction of $3,514.50.
• On Wednesday, November 27th, Q Global Capital Management, L bought 126 shares of ModivCare stock. The shares were purchased 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 purchased 23,657 shares of ModivCare stock. The stock was acquired at an average price of $16.92 per share, for a total transaction of $400,276.44.
• On Tuesday, November 19th, Q Global Capital Management, L acquired 21,411 shares of ModivCare stock. The shares were acquired at an average price of $15.59 per share, with a total value of $333,797.49.
• On Thursday, November 7th, Q Global Capital Management, L bought 58,191 shares of ModivCare stock. The shares were acquired at an average price of $17.13 per share, for a total transaction of $996,811.83.
• 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.

ModivCare Price Performance

MODV opened at $5.93 on Wednesday. The business has a fifty day moving average of $14.67 and a 200 day moving average of $18.81. The stock has a market cap of $84.70 million, a P/E ratio of -0.46, a PEG ratio of 2.77 and a beta of 0.60. 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 Inc. has a 52-week low of $5.55 and a 52-week high of $52.33.

ModivCare (NASDAQ:MODV) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). ModivCare had a positive return on equity of 26.14% and a negative net margin of 6.57%. The company had revenue of $702.04 million during the quarter, compared to the consensus estimate of $711.28 million. During the same quarter in the previous year, the company posted $1.35 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, sell-side analysts anticipate that ModivCare Inc. will post 0.64 EPS for the current year.

Wall Street Analyst Weigh In

MODV has been the subject of several analyst reports. Barrington Research lowered their price objective on ModivCare from $25.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday. Stephens restated an “equal weight” rating and issued a $17.00 price target (down from $21.00) on shares of ModivCare in a research report on Friday, January 10th. Finally, Lake Street Capital cut their price objective on shares of ModivCare from $30.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $18.20.

Hedge Funds Weigh In On ModivCare

Institutional investors have recently modified their holdings of the stock. HG Vora Capital Management LLC purchased a new stake in shares of ModivCare in the third quarter valued at approximately $17,136,000. Millennium Management LLC raised its position in ModivCare by 83.2% during the 2nd quarter. Millennium Management LLC now owns 841,295 shares of the company’s stock valued at $22,076,000 after purchasing an additional 381,995 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of ModivCare by 0.8% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 683,665 shares of the company’s stock worth $17,939,000 after buying an additional 5,644 shares during the period. State Street Corp grew its position in shares of ModivCare by 1.5% during the 3rd quarter. State Street Corp now owns 349,750 shares of the company’s stock worth $4,994,000 after buying an additional 5,115 shares in the last quarter. Finally, Renaissance Technologies LLC increased 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 buying an additional 31,800 shares during the period.

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.