Q Global Capital Management, L Buys 20,927 Shares of ModivCare Inc. (NASDAQ:MODV) Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L acquired 20,927 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was bought at an average price of $16.13 per share, for a total transaction of $337,552.51. Following the completion of the acquisition, the insider now owns 1,742,544 shares of the company’s stock, valued at approximately $28,107,234.72. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, November 1st, Q Global Capital Management, L purchased 33,495 shares of ModivCare stock. The stock was bought at an average cost of $16.15 per share, for a total transaction of $540,944.25.
• On Wednesday, October 30th, Q Global Capital Management, L purchased 38,292 shares of ModivCare stock. The shares were purchased at an average cost of $15.89 per share, with a total value of $608,459.88.
• On Monday, October 28th, Q Global Capital Management, L acquired 25,496 shares of ModivCare stock. The stock was purchased at an average cost of $15.69 per share, for a total transaction of $400,032.24.
• On Friday, October 25th, Q Global Capital Management, L bought 20,556 shares of ModivCare stock. The shares were purchased at an average cost of $14.65 per share, with a total value of $301,145.40.
• On Wednesday, October 23rd, Q Global Capital Management, L purchased 50,748 shares of ModivCare stock. The stock was acquired at an average price of $14.16 per share, for a total transaction of $718,591.68.

ModivCare Price Performance

ModivCare stock traded up $0.67 during trading hours on Wednesday, reaching $16.95. 348,124 shares of the stock were exchanged, compared to its average volume of 256,596. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 103.63. ModivCare Inc. has a twelve month low of $11.00 and a twelve month high of $52.33. The company has a market cap of $241.37 million, a P/E ratio of -1.50, a price-to-earnings-growth ratio of 2.12 and a beta of 0.47. The stock has a 50 day moving average of $18.20 and a two-hundred day moving average of $22.88.

ModivCare (NASDAQ:MODV) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) earnings per share (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 during the quarter, compared to the consensus estimate of $701.00 million. During the same period last year, the business earned $1.41 earnings per share. The business’s revenue was down .1% compared to the same quarter last year. Equities analysts expect that ModivCare Inc. will post 1.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Jefferies Financial Group decreased their target price on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating on the stock in a research report on Friday, September 13th. Lake Street Capital cut their price target 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 price objective on ModivCare from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd.

Institutional Investors Weigh In On ModivCare

A number of large investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of ModivCare during the 3rd quarter worth $102,000. Susquehanna Fundamental Investments LLC acquired a new position in ModivCare during the second quarter worth about $581,000. Millennium Management LLC lifted its holdings in shares of ModivCare by 83.2% in the second quarter. Millennium Management LLC now owns 841,295 shares of the company’s stock worth $22,076,000 after acquiring an additional 381,995 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in shares of ModivCare in the 2nd quarter valued at approximately $206,000. Finally, AQR Capital Management LLC grew its holdings in shares of ModivCare by 16.0% during the 2nd quarter. AQR Capital Management LLC now owns 40,444 shares of the company’s stock valued at $1,061,000 after purchasing an additional 5,592 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.