The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. ModivCare Inc shares valued at $337,553 were purchased by Q Global Capital Management, L on Nov 04 ’24. At $16.13 per share, Q Global Capital Management, L acquired 20,927 shares. The insider’s holdings grew to 1,742,544 shares worth approximately $31.37 million following the completion of this transaction.
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Also, Q Global Capital Management, L purchased 11,990 shares, netting a total of over 194,478 in proceeds. Following the buying of shares at $16.22 each, the insider now holds 1,754,534 shares.
Before that, Q Global Capital Management, L had added 67,728 shares to its account. In a trade valued at $1,082,971, the 10% Owner bought ModivCare Inc shares for $15.99 each. Upon closing the transaction, the insider’s holdings increased to 67,728 shares, worth approximately $30.39 million.
As published in a research note from Barrington Research on August 09, 2024, ModivCare Inc [MODV] has been rated up from a Mkt perform to an Outperform and the price target has been revised to $35. Analysts at Lake Street upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early May. As of February 23, 2024, Jefferies has decreased its “Buy” rating to a “Hold” for MODV. Earlier on February 23, 2024, Deutsche Bank downgraded its rating. Their new recommendation was “a Hold” for MODV stock which previously was a “a Buy”.
Analyzing MODV Stock Performance
During the last five days, there has been a surge of approximately 11.32%. Over the course of the year, ModivCare Inc shares have dropped approximately -59.08%. Shares of the company reached a 52-week high of $52.33 on 02/16/24 and a 52-week low of $11.00 on 09/12/24. A 50-day SMA is recorded $17.78, while a 200-day SMA reached $25.47. Nevertheless, trading volume fell to 0.65 million shares from 0.35 million shares the previous day.
Support And Resistance Levels for ModivCare Inc (MODV)
According to the 24-hour chart, there is a support level at 16.42, which, if violated, would cause prices to drop to 14.84. In the upper region, resistance lies at 19.18. The next price resistance is at 20.36. RSI (Relative Strength Index) is 61.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.48, which suggests the price will increase in the coming days. Percent R is at 15.58%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
