Q Global Capital Management, L Acquires 23,657 Shares of ModivCare Inc. (NASDAQ:MODV) Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L bought 23,657 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were bought at an average price of $16.92 per share, for a total transaction of $400,276.44. Following the transaction, the insider now directly owns 1,889,248 shares in the company, valued at $31,966,076.16. This trade represents a 1.27 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Tuesday, November 19th, Q Global Capital Management, L purchased 21,411 shares of ModivCare stock. The stock was bought at an average cost of $15.59 per share, with a total value of $333,797.49.
• On Thursday, November 7th, Q Global Capital Management, L acquired 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 stock was 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 acquired 33,495 shares of ModivCare stock. The stock was purchased at an average cost of $16.15 per share, with a total value 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 stock was 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 acquired 20,556 shares of ModivCare stock. The shares were acquired at an average price of $14.65 per share, for a total transaction 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 NASDAQ MODV opened at $17.79 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 103.63. The company has a market capitalization of $254.11 million, a PE ratio of -1.38, a PEG ratio of 2.72 and a beta of 0.47. The stock’s 50 day moving average price is $15.38 and its 200-day moving average price is $22.21. ModivCare Inc. has a twelve month low of $11.00 and a twelve month high of $52.33.

ModivCare (NASDAQ:MODV) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). The business had revenue of $702.04 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.35 EPS. On average, equities analysts anticipate that ModivCare Inc. will post 0.64 EPS for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AYAL Capital Advisors Ltd raised its holdings in shares of ModivCare by 42.1% in the 2nd quarter. AYAL Capital Advisors Ltd now owns 262,904 shares of the company’s stock worth $6,899,000 after purchasing an additional 77,930 shares during the period. K2 Principal Fund L.P. bought a new stake in ModivCare in the 2nd quarter valued at about $3,345,000. State Board of Administration of Florida Retirement System purchased a new stake in ModivCare during the first quarter valued at about $91,000. Price T Rowe Associates Inc. MD increased its stake in shares of ModivCare by 3.1% in the first 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 in the last quarter. Finally, Nisa Investment Advisors LLC raised its position 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 purchasing an additional 1,215 shares during the period.

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.