Q Global Capital Management, L Purchases 21,411 Shares of ModivCare Inc. (NASDAQ:MODV) Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L purchased 21,411 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was bought at an average cost of $15.59 per share, with a total value of $333,797.49. Following the completion of the purchase, the insider now owns 1,834,136 shares of the company’s stock, valued at $28,594,180.24. This represents a 1.18 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 Thursday, November 21st, Q Global Capital Management, L purchased 23,657 shares of ModivCare stock. The stock was purchased at an average cost of $16.92 per share, for a total transaction of $400,276.44.
• On Thursday, November 7th, Q Global Capital Management, L acquired 58,191 shares of ModivCare stock. The stock was purchased at an average price of $17.13 per share, with a total value of $996,811.83.
• On Monday, November 4th, Q Global Capital Management, L purchased 20,927 shares of ModivCare stock. The stock was acquired at an average price of $16.13 per share, with a total value of $337,552.51.
• On Friday, November 1st, Q Global Capital Management, L bought 33,495 shares of ModivCare stock. The shares were acquired at an average cost of $16.15 per share, with a total value of $540,944.25.
• On Wednesday, October 30th, Q Global Capital Management, L purchased 38,292 shares of ModivCare stock. The stock was bought at an average price of $15.89 per share, for a total transaction of $608,459.88.
• On Monday, October 28th, Q Global Capital Management, L bought 25,496 shares of ModivCare stock. The stock was bought 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 purchased 20,556 shares of ModivCare stock. The stock was purchased at an average price of $14.65 per share, for a total transaction of $301,145.40.
• On Wednesday, October 23rd, Q Global Capital Management, L bought 50,748 shares of ModivCare stock. The stock was purchased at an average cost of $14.16 per share, with a total value of $718,591.68.

ModivCare Stock Performance

ModivCare stock traded up $0.39 during mid-day trading on Friday, reaching $17.86. 15,434 shares of the stock traded hands, compared to its average volume of 254,516. The business’s 50-day moving average is $15.30 and its 200-day moving average is $22.30. The stock has a market capitalization of $255.04 million, a PE ratio of -1.35, a price-to-earnings-growth ratio of 2.42 and a beta of 0.47. ModivCare Inc. has a 12-month low of $11.00 and a 12-month high of $52.33. 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 (NASDAQ:MODV) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). The firm had revenue of $702.04 million during the quarter, compared to the consensus estimate of $711.28 million. ModivCare had a positive return on equity of 26.14% and a negative net margin of 6.57%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.35 earnings per share. As a group, sell-side analysts predict that ModivCare Inc. will post 0.64 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on MODV. Jefferies Financial Group lowered their price objective on ModivCare from $25.00 to $14.00 and set a “hold” rating on the stock in a research report on Friday, September 13th. Barrington Research reaffirmed an “outperform” rating and set a $25.00 price target on shares of ModivCare in a report on Monday. Finally, Lake Street Capital reduced their price objective on 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

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 worth approximately $17,136,000. Millennium Management LLC increased 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 during the period. K2 Principal Fund L.P. bought a new position in shares of ModivCare in the 2nd quarter worth $3,345,000. AYAL Capital Advisors Ltd raised its holdings in ModivCare by 42.1% in the second quarter. AYAL Capital Advisors Ltd now owns 262,904 shares of the company’s stock worth $6,899,000 after purchasing an additional 77,930 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of ModivCare by 11.7% during the 2nd quarter. Renaissance Technologies LLC now owns 304,299 shares of the company’s stock valued at $7,985,000 after purchasing an additional 31,800 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.