Q Global Capital Management, L Purchases 25,496 Shares of ModivCare Inc. (NASDAQ:MODV) Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L acquired 25,496 shares of ModivCare stock in a transaction that occurred on Monday, October 28th. The stock was bought at an average cost of $15.69 per share, with a total value of $400,032.24. Following the acquisition, the insider now directly owns 1,545,890 shares of the company’s stock, valued at approximately $24,255,014.10. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% 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 bought 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 stock was bought at an average price of $14.16 per share, with a total value of $718,591.68.

ModivCare Trading Up 3.9 %

ModivCare stock opened at $16.08 on Thursday. The firm has a market cap of $228.98 million, a price-to-earnings ratio of -1.42, a price-to-earnings-growth ratio of 1.87 and a beta of 0.49. ModivCare Inc. has a 1 year low of $11.00 and a 1 year high of $52.33. The firm’s 50 day moving average price is $19.05 and its two-hundred day moving average price is $23.01. The company has a debt-to-equity ratio of 103.63, a quick ratio of 0.80 and a current ratio of 0.80.

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

Wall Street Analysts Forecast Growth

MODV has been the subject of a number of research analyst reports. Barrington Research upped 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. Jefferies Financial Group cut their price objective on ModivCare from $25.00 to $14.00 and set a “hold” rating for the company in a report on Friday, September 13th. Finally, Lake Street Capital lowered their target price on ModivCare from $50.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th.

Institutional Trading of ModivCare

A number of hedge funds have recently bought and sold shares of the company. Central Pacific Bank Trust Division purchased a new position in shares of ModivCare in the first quarter worth approximately $100,000. Steamboat Capital Partners LLC acquired a new position in ModivCare in the 1st quarter worth approximately $495,000. Advisors Preferred LLC purchased a new position in ModivCare during the 1st quarter worth approximately $159,000. State Board of Administration of Florida Retirement System acquired a new stake in ModivCare during the 1st quarter valued at $91,000. Finally, Bessemer Group Inc. lifted its holdings in shares of ModivCare by 46.7% in the first quarter. Bessemer Group Inc. now owns 7,145 shares of the company’s stock valued at $168,000 after purchasing an additional 2,274 shares in the last quarter.

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.