ModivCare Inc. (NASDAQ:MODV) Major Shareholder Buys $333,797.49 in Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L purchased 21,411 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was purchased at an average price of $15.59 per share, with a total value of $333,797.49. Following the acquisition, the insider now directly owns 1,834,136 shares of the company’s stock, valued at $28,594,180.24. This trade represents a 1.18 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 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 Thursday, November 21st, Q Global Capital Management, L purchased 23,657 shares of ModivCare stock. The stock was purchased at an average price of $16.92 per share, with a total value of $400,276.44.
• On Thursday, November 7th, Q Global Capital Management, L bought 58,191 shares of ModivCare stock. The shares were bought 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 bought 20,927 shares of ModivCare stock. The shares were bought 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 bought at an average price of $16.15 per share, with a total value of $540,944.25.
• On Wednesday, October 30th, Q Global Capital Management, L acquired 38,292 shares of ModivCare stock. The shares were acquired at an average price 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 shares were acquired at an average price of $15.69 per share, with a total value of $400,032.24.
• On Friday, October 25th, Q Global Capital Management, L acquired 20,556 shares of ModivCare stock. The shares were acquired at an average price of $14.65 per share, with a total value of $301,145.40.
• On Wednesday, October 23rd, Q Global Capital Management, L acquired 50,748 shares of ModivCare stock. The shares were acquired at an average price of $14.16 per share, with a total value of $718,591.68.

ModivCare Price Performance

Shares of MODV opened at $17.79 on Friday. The business’s 50-day moving average is $15.38 and its two-hundred day moving average is $22.24. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 103.63. ModivCare Inc. has a fifty-two week low of $11.00 and a fifty-two week high of $52.33.

ModivCare (NASDAQ:MODV) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.04). The company had revenue of $702.04 million for the quarter, compared to analyst estimates of $711.28 million. ModivCare had a positive return on equity of 26.14% and a negative net margin of 6.57%. ModivCare’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.35 earnings per share. On average, sell-side analysts forecast that ModivCare Inc. will post 0.64 EPS for the current fiscal year.

Institutional Investors Weigh In On ModivCare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HG Vora Capital Management LLC acquired a new stake in ModivCare during the 3rd quarter worth about $17,136,000. Millennium Management LLC grew its position in ModivCare by 83.2% during the 2nd quarter. Millennium Management LLC now owns 841,295 shares of the company’s stock worth $22,076,000 after purchasing an additional 381,995 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its position in ModivCare by 0.8% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 683,665 shares of the company’s stock worth $17,939,000 after purchasing an additional 5,644 shares during the period. State Street Corp grew its position in ModivCare by 1.5% during the 3rd quarter. State Street Corp now owns 349,750 shares of the company’s stock worth $4,994,000 after purchasing an additional 5,115 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of ModivCare by 11.7% during the 2nd quarter. Renaissance Technologies LLC now owns 304,299 shares of the company’s stock worth $7,985,000 after acquiring an additional 31,800 shares in the last quarter.

Analyst Ratings Changes

Several research firms recently issued reports on MODV. Barrington Research reissued an “outperform” rating and issued a $25.00 target price on shares of ModivCare in a research report on Monday, November 18th. Lake Street Capital cut their target price on ModivCare from $50.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Finally, Jefferies Financial Group cut their target price on ModivCare from $25.00 to $14.00 and set a “hold” rating on the stock in a research report on Friday, September 13th.

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.