Q Global Capital Management, L Sells 262,532 Shares of ModivCare Inc. (NASDAQ:MODV) Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L sold 262,532 shares of ModivCare stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $6.53, for a total transaction of $1,714,333.96. Following the completion of the sale, the insider now owns 1,221,933 shares of the company’s stock, valued at approximately $7,979,222.49. The trade was a 17.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares 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, January 10th, Q Global Capital Management, L purchased 3,837 shares of ModivCare stock. The stock was acquired at an average price of $12.61 per share, with a total value of $48,384.57.
• On Friday, December 6th, Q Global Capital Management, L purchased 9,210 shares of ModivCare stock. The stock was acquired at an average price of $17.73 per share, with a total value of $163,293.30.
• On Wednesday, December 4th, Q Global Capital Management, L purchased 3,352 shares of ModivCare stock. The stock was acquired at an average price 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 purchased 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 acquired 198 shares of ModivCare stock. The shares were purchased at an average price 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 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 bought 23,657 shares of ModivCare stock. The shares were bought at an average cost 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 bought at an average cost 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 bought at an average cost 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 bought at an average cost of $16.13 per share, for a total transaction of $337,552.51.

ModivCare Stock Performance

Shares of MODV opened at $7.12 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 103.63. The stock has a market capitalization of $101.70 million, a P/E ratio of -0.55, a price-to-earnings-growth ratio of 2.77 and a beta of 0.60. The firm’s fifty day simple moving average is $14.67 and its two-hundred day simple moving average is $18.81. ModivCare Inc. has a 12 month low of $5.55 and a 12 month high of $52.33.

ModivCare (NASDAQ:MODV) last issued 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 negative net margin of 6.57% and a positive return on equity of 26.14%. The firm had revenue of $702.04 million for the quarter, compared to the consensus estimate of $711.28 million. During the same period last year, the company posted $1.35 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. As a group, analysts predict that ModivCare Inc. will post 0.64 EPS for the current year.

Hedge Funds Weigh In On ModivCare

Several institutional investors have recently made changes to their positions in the stock. Quest Partners LLC raised its holdings in shares of ModivCare by 49.9% during the second quarter. Quest Partners LLC now owns 4,003 shares of the company’s stock valued at $105,000 after purchasing an additional 1,332 shares during the period. American Century Companies Inc. raised its holdings in shares of ModivCare by 9.5% during the second quarter. American Century Companies Inc. now owns 19,916 shares of the company’s stock valued at $523,000 after purchasing an additional 1,726 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of ModivCare during the second quarter valued at about $60,000. FMR LLC raised its holdings in shares of ModivCare by 227.5% during the third quarter. FMR LLC now owns 3,825 shares of the company’s stock valued at $55,000 after purchasing an additional 2,657 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of ModivCare during the third quarter valued at about $43,000.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Stephens reissued an “equal weight” rating and issued a $17.00 price objective (down previously from $21.00) on shares of ModivCare in a research note on Friday, January 10th. Lake Street Capital reduced their price objective on shares of ModivCare from $30.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Barrington Research reduced their price objective on shares of ModivCare from $25.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.20.

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.