Q Global Capital Management, L Acquires 33,495 Shares of ModivCare Inc. (NASDAQ:MODV) Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L purchased 33,495 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average price of $16.15 per share, with a total value 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. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major 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 acquired 38,292 shares of ModivCare stock. The stock was purchased at an average price of $15.89 per share, for a total transaction of $608,459.88.
• On Monday, October 28th, Q Global Capital Management, L bought 25,496 shares of ModivCare stock. The shares were purchased at an average price 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 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 cost of $14.16 per share, with a total value of $718,591.68.

ModivCare Trading Up 0.1 %

NASDAQ:MODV opened at $16.18 on Friday. The company has a market capitalization of $230.40 million, a PE ratio of -1.43, a P/E/G ratio of 2.10 and a beta of 0.46. ModivCare Inc. has a 52-week low of $11.00 and a 52-week high of $52.33. The stock’s 50 day moving average price is $18.65 and its 200 day moving average price is $22.93. 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) last announced its earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.80). The business had revenue of $698.30 million for the quarter, compared to analysts’ expectations of $701.00 million. ModivCare had a positive return on equity of 27.52% and a negative net margin of 5.80%. The business’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the business posted $1.41 earnings per share. On average, research analysts anticipate that ModivCare Inc. will post 1.06 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its holdings 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 during the last quarter. Canada Pension Plan Investment Board purchased a new stake in ModivCare during the 2nd quarter valued at approximately $60,000. State Board of Administration of Florida Retirement System acquired a new stake in ModivCare during the 1st quarter worth approximately $91,000. Central Pacific Bank Trust Division purchased a new position in shares of ModivCare in the 1st quarter valued at approximately $100,000. Finally, SG Americas Securities LLC acquired a new position in shares of ModivCare in the third quarter valued at approximately $102,000.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barrington Research raised their target price on ModivCare from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Lake Street Capital cut 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. Finally, Jefferies Financial Group lowered their target price 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.

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.