ModivCare Inc. (NASDAQ:MODV) Major Shareholder Sells $1,714,333.96 in Stock

ModivCare Inc. (NASDAQ:MODV) major shareholder Q Global Capital Management, L sold 262,532 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $6.53, for a total transaction of $1,714,333.96. Following the completion of the sale, the insider now owns 1,221,933 shares of the company’s stock, valued at approximately $7,979,222.49. The trade was a 17.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 Friday, January 10th, Q Global Capital Management, L purchased 3,837 shares of ModivCare stock. The stock was bought at an average cost of $12.61 per share, for a total transaction of $48,384.57.
• On Friday, December 6th, Q Global Capital Management, L acquired 9,210 shares of ModivCare stock. The shares were purchased at an average cost of $17.73 per share, with a total value of $163,293.30.
• On Wednesday, December 4th, Q Global Capital Management, L bought 3,352 shares of ModivCare stock. The stock was purchased at an average cost of $17.74 per share, for a total transaction of $59,464.48.
• On Monday, December 2nd, Q Global Capital Management, L purchased 1,583 shares of ModivCare stock. The shares were purchased at an average price of $17.75 per share, with a total value 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 stock was acquired at an average price of $17.74 per share, with a total value of $2,235.24.
• On Thursday, November 21st, Q Global Capital Management, L purchased 23,657 shares of ModivCare stock. The shares were acquired 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 acquired 21,411 shares of ModivCare stock. The stock was acquired at an average cost of $15.59 per share, with a total value of $333,797.49.
• On Thursday, November 7th, Q Global Capital Management, L acquired 58,191 shares of ModivCare stock. The stock was acquired at an average price 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 shares were bought at an average price of $16.13 per share, for a total transaction of $337,552.51.

ModivCare Stock Performance

NASDAQ:MODV traded up $0.09 during trading hours on Monday, hitting $6.65. 1,553,357 shares of the company traded hands, compared to its average volume of 748,006. 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 market capitalization of $94.99 million, a price-to-earnings ratio of -0.52, a P/E/G ratio of 2.77 and a beta of 0.60. The firm has a 50-day moving average of $15.07 and a 200 day moving average of $19.08. ModivCare Inc. has a twelve month low of $6.32 and a twelve month high of $52.33.

ModivCare (NASDAQ:MODV) last released its earnings results on Wednesday, November 6th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $711.28 million. During the same quarter in the previous year, the business posted $1.35 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts forecast that ModivCare Inc. will post 0.64 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on MODV. Barrington Research reiterated an “outperform” rating and set a $25.00 price target on shares of ModivCare in a research note on Monday, November 18th. Stephens reaffirmed an “equal weight” rating and set a $17.00 target price (down previously from $21.00) on shares of ModivCare in a research report on Friday. Finally, Lake Street Capital dropped their price target on shares of ModivCare from $30.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $21.20.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in ModivCare during the third quarter worth $43,000. Barclays PLC lifted its holdings in shares of ModivCare by 249.4% during the 3rd quarter. Barclays PLC now owns 15,235 shares of the company’s stock worth $218,000 after acquiring an additional 10,875 shares during the period. K2 Principal Fund L.P. boosted its position in shares of ModivCare by 24.6% during the 3rd quarter. K2 Principal Fund L.P. now owns 158,820 shares of the company’s stock valued at $2,268,000 after acquiring an additional 31,334 shares in the last quarter. State Street Corp increased its stake in ModivCare by 1.5% in the third quarter. State Street Corp now owns 349,750 shares of the company’s stock valued at $4,994,000 after acquiring an additional 5,115 shares during the period. Finally, Repertoire Partners LP acquired a new position in ModivCare in the third quarter worth about $178,000.

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.