ModivCare Inc. (NASDAQ:MODV) Major Shareholder Buys $540,944.25 in Stock

ModivCare Inc. (NASDAQ:MODV - Get Free Report) major shareholder Q Global Capital Management, L acquired 33,495 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average cost of $16.15 per share, for a total transaction of $540,944.25. Following the purchase, the insider now directly owns 1,721,617 shares of the company's stock, valued at $27,804,114.55. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own 10% or more 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 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 acquired 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 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 purchased 50,748 shares of ModivCare stock. The stock was acquired at an average price of $14.16 per share, with a total value of $718,591.68.

ModivCare Stock Performance

MODV stock traded up $0.01 during midday trading on Friday, reaching $16.18. 184,658 shares of the company's stock traded hands, compared to its average volume of 248,516. The stock's 50-day moving average is $18.65 and its 200 day moving average is $22.93. ModivCare Inc. has a 52-week low of $11.00 and a 52-week high of $52.33. 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 cap of $230.40 million, a P/E ratio of -1.43, a PEG ratio of 2.10 and a beta of 0.46.

ModivCare (NASDAQ:MODV - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate 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 business had revenue of $698.30 million during the quarter, compared to analysts' expectations of $701.00 million. During the same quarter in the previous year, the firm earned $1.41 earnings per share. ModivCare's revenue was down .1% on a year-over-year basis. As a group, analysts anticipate that ModivCare Inc. will post 1.06 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MODV shares. Lake Street Capital decreased their target price on ModivCare from $50.00 to $30.00 and set a "buy" rating for the company in a research report on Tuesday, September 17th. Jefferies Financial Group decreased their price objective on shares of ModivCare from $25.00 to $14.00 and set a "hold" rating for the company in a report on Friday, September 13th. Finally, Barrington Research raised their target price on shares of ModivCare from $19.00 to $22.00 and gave the stock an "outperform" rating in a report on Thursday, October 3rd.

Institutional Trading of ModivCare

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its position in ModivCare by 5,522.7% in 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 during the last quarter. Canada Pension Plan Investment Board purchased a new position in ModivCare in the second quarter worth about $60,000. State Board of Administration of Florida Retirement System bought a new stake in ModivCare during the first quarter worth approximately $91,000. Central Pacific Bank Trust Division bought a new stake in ModivCare during the first quarter worth approximately $100,000. Finally, SG Americas Securities LLC purchased a new stake in ModivCare during the third quarter valued at approximately $102,000.

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.