Insider Buying: ModivCare Inc. (NASDAQ:MODV) Major Shareholder Buys $400,032.24 in Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L acquired 25,496 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was bought at an average cost of $15.69 per share, for a total transaction of $400,032.24. Following the completion of the purchase, the insider now owns 1,545,890 shares of the company’s stock, valued at $24,255,014.10. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, October 25th, Q Global Capital Management, L purchased 20,556 shares of ModivCare stock. The shares were purchased 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 acquired 50,748 shares of ModivCare stock. The shares were purchased at an average price of $14.16 per share, with a total value of $718,591.68.

ModivCare Trading Up 0.6 %

MODV opened at $16.17 on Friday. The company has a market cap of $230.26 million, a P/E ratio of -1.43, a price-to-earnings-growth ratio of 1.87 and a beta of 0.49. The company has a fifty day moving average price of $18.86 and a two-hundred day moving average price of $22.96. 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 Inc. has a 1-year low of $11.00 and a 1-year high of $52.33.

ModivCare (NASDAQ:MODV) last issued its earnings results 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 positive return on equity of 27.52% and a negative net margin of 5.80%. The firm had revenue of $698.30 million for the quarter, compared to analyst estimates of $701.00 million. During the same period in the previous year, the company earned $1.41 earnings per share. ModivCare’s revenue for the quarter was down .1% compared to the same quarter last year. Analysts predict that ModivCare Inc. will post 1.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MODV. Nisa Investment Advisors LLC raised its holdings in shares of ModivCare by 5,522.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,237 shares of the company’s stock worth $32,000 after acquiring an additional 1,215 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in ModivCare during the 2nd quarter worth approximately $60,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of ModivCare in the first quarter worth approximately $91,000. Central Pacific Bank Trust Division bought a new position in shares of ModivCare in the first quarter valued at approximately $100,000. Finally, SG Americas Securities LLC purchased a new position in shares of ModivCare during the third quarter valued at approximately $102,000.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MODV shares. 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 research report on Friday, September 13th. Barrington Research raised their target price on ModivCare from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Finally, Lake Street Capital lowered their target price on ModivCare from $50.00 to $30.00 and set a “buy” rating for the company 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.