Insider Buying: ModivCare Inc. (NASDAQ:MODV) Major Shareholder Acquires $301,145.40 in Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L bought 20,556 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were bought at an average cost of $14.65 per share, for a total transaction of $301,145.40. Following the completion of the purchase, the insider now owns 1,520,394 shares of the company’s stock, valued at $22,273,772.10. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large 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 Monday, October 28th, Q Global Capital Management, L acquired 25,496 shares of ModivCare stock. The shares were bought at an average price of $15.69 per share, for a total transaction of $400,032.24.
• On Wednesday, October 23rd, Q Global Capital Management, L bought 50,748 shares of ModivCare stock. The stock was purchased at an average cost of $14.16 per share, with a total value of $718,591.68.

ModivCare Stock Up 0.6 %

MODV stock opened at $16.17 on Friday. The firm has a market capitalization of $230.26 million, a PE ratio of -1.43, a P/E/G ratio of 1.87 and a beta of 0.49. 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 twelve month low of $11.00 and a twelve month high of $52.33. The stock’s 50 day moving average is $18.86 and its 200-day moving average is $22.96.

ModivCare (NASDAQ:MODV) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) earnings per share 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 company had revenue of $698.30 million for the quarter, compared to the consensus estimate of $701.00 million. During the same quarter last year, the business posted $1.41 earnings per share. ModivCare’s revenue was down .1% on a year-over-year basis. Sell-side analysts expect that ModivCare Inc. will post 1.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MODV. Nisa Investment Advisors LLC lifted its position in shares of ModivCare by 5,522.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,237 shares of the company’s stock worth $32,000 after buying an additional 1,215 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of ModivCare during the second quarter valued at approximately $60,000. State Board of Administration of Florida Retirement System bought a new stake in ModivCare during the first quarter worth $91,000. Quest Partners LLC boosted its position in ModivCare by 49.9% in the second quarter. Quest Partners LLC now owns 4,003 shares of the company’s stock worth $105,000 after purchasing an additional 1,332 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in ModivCare in the 1st quarter valued at $100,000.

Analyst Upgrades and Downgrades

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

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.