Top ModivCare Shareholder Grows Restless -- Market Talk

Dow Jones11-11

0738 ET - One of ModivCare's biggest investors is warning that it might push for changes at healthcare-services company. Q Global Capital Management reports a nearly 12.7% stake in ModivCare and says it's considering its options because the company hasn't completed actions such as announcing a covenant relief amendment to its revolving credit facility or monetizing its stake in CCHN Group. Q Capital, which is ModivCare's second-largest shareholder according to FactSet data, says that while it currently supports CEO L. Heath Sampson in general, ModivCare's performance both recently and over the last 10 years has been disappointing. Q Capital flips its ModivCare SEC filing from a 13G, reserved for passive investors, to a 13D, often used by activist investors whose plans include pushing for actions at a company. (colin.kellaher@wsj.com)

(END) Dow Jones Newswires

November 11, 2024 07:38 ET (12:38 GMT)

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