Insider Buying: ModivCare Inc. (NASDAQ:MODV) Major Shareholder Acquires 3,352 Shares of Stock

ModivCare Inc. (NASDAQ:MODV - Get Free Report) major shareholder Q Global Capital Management, L purchased 3,352 shares of ModivCare stock in a transaction on Wednesday, December 4th. The stock was bought at an average price of $17.74 per share, for a total transaction of $59,464.48. Following the completion of the acquisition, the insider now owns 1,924,985 shares in the company, valued at $34,149,233.90. The trade was a 0.17 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Friday, December 6th, Q Global Capital Management, L bought 9,210 shares of ModivCare stock. The stock was acquired at an average price of $17.73 per share, for a total transaction of $163,293.30.
• On Monday, December 2nd, Q Global Capital Management, L purchased 1,583 shares of ModivCare stock. The stock was acquired at an average cost 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 stock was bought at an average cost of $17.75 per share, with a total value of $3,514.50.
• On Wednesday, November 27th, Q Global Capital Management, L purchased 126 shares of ModivCare stock. The shares were purchased at an average cost of $17.74 per share, with a total value of $2,235.24.
• On Thursday, November 21st, Q Global Capital Management, L purchased 23,657 shares of ModivCare stock. The shares were purchased at an average price 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 acquired at an average price of $15.59 per share, with a total value of $333,797.49.
• On Thursday, November 7th, Q Global Capital Management, L bought 58,191 shares of ModivCare stock. The stock was acquired at an average price of $17.13 per share, for a total transaction of $996,811.83.
• On Monday, November 4th, Q Global Capital Management, L purchased 20,927 shares of ModivCare stock. The shares were bought at an average cost of $16.13 per share, with a total value of $337,552.51.
• On Friday, November 1st, Q Global Capital Management, L purchased 33,495 shares of ModivCare stock. The shares were purchased at an average price of $16.15 per share, for a total transaction of $540,944.25.
• On Wednesday, October 30th, Q Global Capital Management, L acquired 38,292 shares of ModivCare stock. The stock was acquired at an average cost of $15.89 per share, with a total value of $608,459.88.

ModivCare Stock Performance

Shares of MODV stock traded up $0.32 on Friday, hitting $18.07. The company had a trading volume of 165,592 shares, compared to its average volume of 250,747. The firm has a market cap of $258.11 million, a P/E ratio of -1.38, a price-to-earnings-growth ratio of 2.80 and a beta of 0.52. ModivCare Inc. has a twelve month low of $11.00 and a twelve month high of $52.33. The company has a 50-day moving average price of $16.38 and a 200-day moving average price of $21.69. 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 (NASDAQ:MODV - Get Free Report) last released its quarterly earnings data 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 analysts' expectations of $711.28 million. ModivCare had a negative net margin of 6.57% and a positive return on equity of 26.14%. The firm's quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.35 EPS. As a group, equities research analysts predict that ModivCare Inc. will post 0.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MODV has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered their price objective on ModivCare from $25.00 to $14.00 and set a "hold" rating for the company in a research report on Friday, September 13th. Lake Street Capital dropped their target price on shares of ModivCare from $50.00 to $30.00 and set a "buy" rating on the stock in a research report on Tuesday, September 17th. Finally, Barrington Research reiterated an "outperform" rating and set a $25.00 price objective on shares of ModivCare in a research note on Monday, November 18th.

Institutional Trading of ModivCare

A number of hedge funds have recently bought and sold shares of MODV. Price T Rowe Associates Inc. MD boosted its position in shares of ModivCare by 3.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,483 shares of the company's stock worth $481,000 after buying an additional 608 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of ModivCare by 5,522.7% during the second quarter. Nisa Investment Advisors LLC now owns 1,237 shares of the company's stock worth $32,000 after purchasing an additional 1,215 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in shares of ModivCare by 3.8% during the second quarter. SummerHaven Investment Management LLC now owns 14,511 shares of the company's stock worth $381,000 after purchasing an additional 530 shares in the last quarter. Skylands Capital LLC raised its stake in ModivCare by 5.3% in the second quarter. Skylands Capital LLC now owns 90,000 shares of the company's stock valued at $2,362,000 after buying an additional 4,500 shares in the last quarter. Finally, Quest Partners LLC lifted its holdings in ModivCare by 49.9% during the 2nd quarter. Quest Partners LLC now owns 4,003 shares of the company's stock worth $105,000 after buying an additional 1,332 shares during the last quarter.

ModivCare Company Profile

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.

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