Insider Buying: ModivCare Inc. (NASDAQ:MODV) Major Shareholder Purchases 21,411 Shares of Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L acquired 21,411 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was bought at an average price of $15.59 per share, for a total transaction of $333,797.49. Following the completion of the acquisition, the insider now owns 1,834,136 shares of the company’s stock, valued at approximately $28,594,180.24. The trade was a 1.18 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own more than 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 shares were purchased at an average price 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 cost 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 purchased 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 acquired 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 bought 38,292 shares of ModivCare stock. The shares were purchased at an average cost of $15.89 per share, for a total transaction of $608,459.88.
• On Monday, October 28th, Q Global Capital Management, L purchased 25,496 shares of ModivCare stock. The shares were acquired at an average cost of $15.69 per share, with a total value of $400,032.24.
• On Friday, October 25th, Q Global Capital Management, L purchased 20,556 shares of ModivCare stock. The stock was bought 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 bought 50,748 shares of ModivCare stock. The stock was acquired at an average price of $14.16 per share, for a total transaction of $718,591.68.

ModivCare Stock Up 6.8 %

NASDAQ MODV traded up $1.11 during trading on Thursday, hitting $17.42. The company’s stock had a trading volume of 101,607 shares, compared to its average volume of 255,574. The company has a market cap of $248.76 million, a PE ratio of -1.35, a P/E/G ratio of 2.42 and a beta of 0.47. The company has a debt-to-equity ratio of 103.63, a current ratio of 0.80 and a quick ratio of 0.80. The business’s 50 day simple moving average is $15.21 and its 200-day simple moving average is $22.34. ModivCare Inc. has a fifty-two week low of $11.00 and a fifty-two week high of $52.33.

ModivCare (NASDAQ:MODV) last issued 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). ModivCare had a positive return on equity of 26.14% and a negative net margin of 6.57%. The firm had revenue of $702.04 million during the quarter, compared to analyst estimates of $711.28 million. During the same quarter last year, the company posted $1.35 EPS. The company’s revenue was up 2.2% on a year-over-year basis. On average, equities analysts anticipate that ModivCare Inc. will post 0.64 EPS for the current fiscal year.

Institutional Investors Weigh In On ModivCare

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System acquired a new stake in ModivCare in the first quarter valued at about $91,000. Bessemer Group Inc. boosted its stake in ModivCare by 46.7% in the 1st quarter. Bessemer Group Inc. now owns 7,145 shares of the company’s stock worth $168,000 after buying an additional 2,274 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of ModivCare by 3.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,483 shares of the company’s stock worth $481,000 after purchasing an additional 608 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of ModivCare by 5,522.7% in the second quarter. Nisa Investment Advisors LLC now owns 1,237 shares of the company’s stock valued at $32,000 after buying an additional 1,215 shares in the last quarter. Finally, 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 valued at $381,000 after acquiring an additional 530 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group cut their price target on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating on the stock in a report on Friday, September 13th. Lake Street Capital dropped their price objective 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, Barrington Research reaffirmed an “outperform” rating and set a $25.00 price target on shares of ModivCare in a research report on Monday.

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.