Insider Selling: ModivCare Inc. (NASDAQ:MODV) Major Shareholder Sells $1,714,333.96 in Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L sold 262,532 shares of ModivCare stock in a transaction on Monday, January 13th. The shares were sold at an average price of $6.53, for a total value of $1,714,333.96. Following the completion of the sale, the insider now directly owns 1,221,933 shares of the company’s stock, valued at $7,979,222.49. This trade represents a 17.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Q Global Capital Management, L also recently made the following trade(s):

• On Friday, January 10th, Q Global Capital Management, L bought 3,837 shares of ModivCare stock. The stock was purchased at an average cost of $12.61 per share, with a total value of $48,384.57.
• On Friday, December 6th, Q Global Capital Management, L acquired 9,210 shares of ModivCare stock. The shares were bought 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 acquired 3,352 shares of ModivCare stock. The shares were bought at an average cost of $17.74 per share, with a total value of $59,464.48.
• On Monday, December 2nd, Q Global Capital Management, L acquired 1,583 shares of ModivCare stock. The shares were bought 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 acquired 198 shares of ModivCare stock. The shares were bought at an average cost of $17.75 per share, with a total value of $3,514.50.
• On Wednesday, November 27th, Q Global Capital Management, L acquired 126 shares of ModivCare stock. The shares were bought at an average cost 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 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 bought 21,411 shares of ModivCare stock. The shares were acquired at an average price of $15.59 per share, for a total transaction 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 bought 20,927 shares of ModivCare stock. The shares were acquired at an average price of $16.13 per share, for a total transaction of $337,552.51.

ModivCare Stock Performance

MODV opened at $7.12 on Thursday. ModivCare Inc. has a 52-week low of $5.55 and a 52-week high of $52.33. The firm has a market capitalization of $101.70 million, a PE ratio of -0.55, a PEG ratio of 2.77 and a beta of 0.60. The company has a debt-to-equity ratio of 103.63, a quick ratio of 0.80 and a current ratio of 0.80. The business’s 50-day simple moving average is $14.67 and its 200 day simple moving average is $18.81.

ModivCare (NASDAQ:MODV) last released its earnings results on Wednesday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $711.28 million. During the same quarter in the previous year, the company posted $1.35 EPS. The business’s revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts expect that ModivCare Inc. will post 0.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MODV has been the topic of a number of research reports. Lake Street Capital cut their price target on ModivCare from $30.00 to $10.00 and set a “buy” rating on the stock in a report on Monday. Stephens restated an “equal weight” rating and issued a $17.00 price target (down from $21.00) on shares of ModivCare in a report on Friday, January 10th. Finally, Barrington Research dropped their target price on ModivCare from $25.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.20.

Hedge Funds Weigh In On ModivCare

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new position in shares of ModivCare in the third quarter valued at about $43,000. FMR LLC grew its stake in ModivCare by 227.5% in the 3rd quarter. FMR LLC now owns 3,825 shares of the company’s stock valued at $55,000 after buying an additional 2,657 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in ModivCare during the second quarter worth approximately $60,000. SG Americas Securities LLC acquired a new stake in ModivCare during the third quarter worth approximately $102,000. Finally, Quest Partners LLC lifted its position in ModivCare by 49.9% during the second quarter. Quest Partners LLC now owns 4,003 shares of the company’s stock worth $105,000 after acquiring an additional 1,332 shares during the last quarter.

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.