Q Global Capital Management, L Buys 50,748 Shares of ModivCare Inc. (NASDAQ:MODV) Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L bought 50,748 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was acquired at an average cost of $14.16 per share, for a total transaction of $718,591.68. Following the completion of the purchase, the insider now directly owns 1,475,038 shares of the company’s stock, valued at $20,886,538.08. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

ModivCare Stock Performance

Shares of MODV stock opened at $14.41 on Friday. ModivCare Inc. has a 12 month low of $11.00 and a 12 month high of $52.33. The stock has a market cap of $204.78 million, a PE ratio of -0.92, a price-to-earnings-growth ratio of 1.82 and a beta of 0.49. The company’s fifty day moving average price is $19.67 and its 200-day moving average price is $23.16. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 103.63.

ModivCare (NASDAQ:MODV) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates 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 period last year, the business earned $1.41 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. On average, equities analysts expect that ModivCare Inc. will post 1.06 EPS for the current fiscal year.

Hedge Funds Weigh In On ModivCare

Hedge funds have recently bought and sold shares of the company. Central Pacific Bank Trust Division bought a new stake in ModivCare during the 1st quarter valued at about $100,000. Steamboat Capital Partners LLC purchased a new position in ModivCare in the 1st quarter worth approximately $495,000. Advisors Preferred LLC bought a new position in ModivCare in the 1st quarter valued at approximately $159,000. State Board of Administration of Florida Retirement System purchased a new stake in ModivCare during the 1st quarter valued at $91,000. Finally, Bessemer Group Inc. increased its holdings in shares of 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 purchasing an additional 2,274 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MODV shares. Barrington Research lifted their price objective 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 target 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 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.

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.