Q Global Capital Management, L Sells 262,532 Shares of ModivCare Inc. (NASDAQ:MODV) Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L sold 262,532 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $6.53, for a total transaction of $1,714,333.96. Following the sale, the insider now owns 1,221,933 shares of the company’s stock, valued at $7,979,222.49. This trade represents a 17.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own more than 10% 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 Friday, January 10th, Q Global Capital Management, L acquired 3,837 shares of ModivCare stock. The shares were acquired at an average price of $12.61 per share, with a total value of $48,384.57.
• On Friday, December 6th, Q Global Capital Management, L bought 9,210 shares of ModivCare stock. The stock was acquired at an average price of $17.73 per share, for a total transaction of $163,293.30.
• On Wednesday, December 4th, Q Global Capital Management, L purchased 3,352 shares of ModivCare stock. The shares were bought at an average price of $17.74 per share, with a total value of $59,464.48.
• On Monday, December 2nd, Q Global Capital Management, L bought 1,583 shares of ModivCare stock. The stock was bought 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 purchased 198 shares of ModivCare stock. The shares were bought at an average price of $17.75 per share, with a total value of $3,514.50.
• On Wednesday, November 27th, Q Global Capital Management, L acquired 126 shares of ModivCare stock. The shares were purchased at an average cost 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 stock was purchased at an average price of $16.92 per share, with a total value of $400,276.44.
• On Tuesday, November 19th, Q Global Capital Management, L purchased 21,411 shares of ModivCare stock. The shares were purchased 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 acquired 58,191 shares of ModivCare stock. The stock was purchased at an average cost of $17.13 per share, with a total value of $996,811.83.
• On Monday, November 4th, Q Global Capital Management, L bought 20,927 shares of ModivCare stock. The stock was acquired at an average price of $16.13 per share, for a total transaction of $337,552.51.

ModivCare Stock Performance

NASDAQ:MODV opened at $5.93 on Wednesday. ModivCare Inc. has a 1 year low of $5.55 and a 1 year high of $52.33. The company has a debt-to-equity ratio of 103.63, a current ratio of 0.80 and a quick ratio of 0.80. The business has a fifty day simple moving average of $14.67 and a two-hundred day simple moving average of $18.81. The company has a market capitalization of $84.70 million, a P/E ratio of -0.46, a P/E/G ratio of 2.77 and a beta of 0.60.

ModivCare (NASDAQ:MODV) last announced 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). The firm had revenue of $702.04 million during the quarter, compared to the consensus estimate of $711.28 million. ModivCare had a negative net margin of 6.57% and a positive return on equity of 26.14%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.35 earnings per share. On average, analysts expect that ModivCare Inc. will post 0.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MODV. Lake Street Capital dropped their price target on ModivCare from $30.00 to $10.00 and set a “buy” rating on the stock in a report on Monday. Stephens reiterated an “equal weight” rating and set a $17.00 target price (down from $21.00) on shares of ModivCare in a research note on Friday, January 10th. Finally, Barrington Research reduced their price target on shares of ModivCare from $25.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.20.

Institutional Trading of ModivCare

Institutional investors have recently modified their holdings of the business. Wilmington Savings Fund Society FSB purchased a new position in ModivCare in the 3rd quarter valued at approximately $43,000. FMR LLC boosted its holdings in shares of ModivCare by 227.5% in the third quarter. FMR LLC now owns 3,825 shares of the company’s stock worth $55,000 after acquiring an additional 2,657 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of ModivCare in the second quarter valued at $60,000. SG Americas Securities LLC purchased a new position in shares of ModivCare in the third quarter valued at $102,000. Finally, Quest Partners LLC raised its stake in shares of 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 purchasing an additional 1,332 shares during the period.

About ModivCare

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.