ModivCare Inc. (NASDAQ:MODV) Major Shareholder Buys $163,293.30 in Stock

Posted by Liza Goodheart on Dec 9th, 2024

ModivCare Inc. (NASDAQ:MODV – Get Free Report) major shareholder Q Global Capital Management, L purchased 9,210 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was acquired at an average cost of $17.73 per share, for a total transaction of $163,293.30. Following the completion of the purchase, the insider now owns 1,967,098 shares in the company, valued at $34,876,647.54. The trade was a 0.47 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Large 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, December 4th, Q Global Capital Management, L acquired 3,352 shares of ModivCare stock. The stock was purchased at an average price of $17.74 per share, for a total transaction of $59,464.48.
On Monday, December 2nd, Q Global Capital Management, L acquired 1,583 shares of ModivCare stock. The stock was purchased at an average price of $17.75 per share, for a total transaction of $28,098.25.
On Friday, November 29th, Q Global Capital Management, L acquired 198 shares of ModivCare stock. The stock was purchased at an average price of $17.75 per share, for a total transaction of $3,514.50.
On Wednesday, November 27th, Q Global Capital Management, L bought 126 shares of ModivCare stock. The shares were bought at an average price of $17.74 per share, for a total transaction of $2,235.24.
On Thursday, November 21st, Q Global Capital Management, L bought 23,657 shares of ModivCare stock. The shares were bought at an average price of $16.92 per share, for a total transaction of $400,276.44.
On Tuesday, November 19th, Q Global Capital Management, L bought 21,411 shares of ModivCare stock. The shares were bought at an average price of $15.59 per share, for a total transaction of $333,797.49.
On Thursday, November 7th, Q Global Capital Management, L bought 58,191 shares of ModivCare stock. The shares were bought at an average price of $17.13 per share, for a total transaction of $996,811.83.
On Monday, November 4th, Q Global Capital Management, L acquired 20,927 shares of ModivCare stock. The shares were acquired at an average price of $16.13 per share, with a total value of $337,552.51.
On Friday, November 1st, Q Global Capital Management, L acquired 33,495 shares of ModivCare stock. The shares were acquired at an average price of $16.15 per share, with a total value of $540,944.25.
On Wednesday, October 30th, Q Global Capital Management, L acquired 38,292 shares of ModivCare stock. The shares were acquired at an average price of $15.89 per share, with a total value of $608,459.88.

ModivCare Price Performance

Shares of MODV opened at $18.07 on Monday. ModivCare Inc. has a 52 week low of $11.00 and a 52 week high of $52.33. The firm has a market cap of $258.04 million, a price-to-earnings ratio of -1.40, a PEG ratio of 2.76 and a beta of 0.52. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 103.63. The stock has a 50 day moving average of $16.46 and a 200-day moving average of $21.53.

ModivCare (NASDAQ:MODV – Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). ModivCare had a negative net margin of 6.57% and a positive return on equity of 26.14%. The company had revenue of $702.04 million for the quarter, compared to analyst estimates of $711.28 million. During the same quarter in the prior year, the firm earned $1.35 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, analysts forecast that ModivCare Inc. will post 0.64 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MODV shares. Jefferies Financial Group lowered 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 reiterated an “outperform” rating and issued a $25.00 target price on shares of ModivCare in a research report on Monday, November 18th. Finally, Lake Street Capital decreased their target price on ModivCare from $50.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th.

Get Our Latest Stock Analysis on MODV

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AYAL Capital Advisors Ltd boosted its position in ModivCare by 42.1% during the 2nd quarter. AYAL Capital Advisors Ltd now owns 262,904 shares of the company’s stock valued at $6,899,000 after purchasing an additional 77,930 shares during the period. K2 Principal Fund L.P. acquired a new position in ModivCare during the 2nd quarter valued at approximately $3,345,000. Price T Rowe Associates Inc. MD boosted its position in ModivCare by 3.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,483 shares of the company’s stock valued at $481,000 after purchasing an additional 608 shares during the period. Nisa Investment Advisors LLC raised its stake in ModivCare by 5,522.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,237 shares of the company’s stock valued at $32,000 after acquiring an additional 1,215 shares in the last quarter. Finally, Quest Partners LLC raised its stake in ModivCare by 49.9% during the 2nd quarter. Quest Partners LLC now owns 4,003 shares of the company’s stock valued at $105,000 after acquiring an additional 1,332 shares in the last quarter.

ModivCare Company Profile

(Get Free Report)

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.