ModivCare Inc. (NASDAQ:MODV) Major Shareholder Q Global Capital Management, L Buys 20,556 Shares

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L purchased 20,556 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were purchased at an average cost of $14.65 per share, with a total value of $301,145.40. Following the completion of the acquisition, the insider now owns 1,520,394 shares in the company, valued at approximately $22,273,772.10. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own at least 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 Monday, October 28th, Q Global Capital Management, L purchased 25,496 shares of ModivCare stock. The shares were purchased at an average cost of $15.69 per share, with a total value of $400,032.24.
• On Wednesday, October 23rd, Q Global Capital Management, L purchased 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

MODV stock remained flat at $15.48 during mid-day trading on Tuesday. 252,567 shares of the company’s stock traded hands, compared to its average volume of 256,981. The firm has a market cap of $220.44 million, a P/E ratio of -1.37, a PEG ratio of 1.87 and a beta of 0.49. The company has a debt-to-equity ratio of 103.63, a current ratio of 0.80 and a quick ratio of 0.80. ModivCare Inc. has a 52 week low of $11.00 and a 52 week high of $52.33. The stock’s fifty day moving average is $19.45 and its two-hundred day moving average is $23.11.

ModivCare (NASDAQ:MODV) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) earnings per share 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 business had revenue of $698.30 million for the quarter, compared to the consensus estimate of $701.00 million. During the same period in the prior year, the company earned $1.41 EPS. ModivCare’s quarterly revenue was down .1% on a year-over-year basis. As a group, sell-side analysts anticipate that ModivCare Inc. will post 1.06 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group lowered their price target on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating for the company in a report on Friday, September 13th. Barrington Research raised their price objective on shares of ModivCare from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Finally, Lake Street Capital decreased 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.

Institutional Investors Weigh In On ModivCare

A number of institutional investors have recently modified their holdings of MODV. Central Pacific Bank Trust Division bought a new stake in shares of ModivCare during the 1st quarter valued at about $100,000. Steamboat Capital Partners LLC acquired a new position in ModivCare during the 1st quarter valued at about $495,000. Advisors Preferred LLC acquired a new position in ModivCare during the 1st quarter valued at about $159,000. State Board of Administration of Florida Retirement System acquired a new position in ModivCare during the 1st quarter valued at about $91,000. Finally, Bessemer Group Inc. boosted its stake in 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 purchasing an additional 2,274 shares during the period.

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.