Rice Hall James & Associates LLC bought a new stake in The Providence Service Co. (NASDAQ:PRSC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 26,959 shares of the company’s stock, valued at approximately $1,546,000.
Several other institutional investors and hedge funds have also made changes to their positions in PRSC. Bank of America Corp DE boosted its stake in shares of The Providence Service by 17.6% in the fourth quarter. Bank of America Corp DE now owns 27,518 shares of the company’s stock valued at $1,652,000 after purchasing an additional 4,111 shares during the period. BNP Paribas Arbitrage SA raised its holdings in The Providence Service by 717.6% in the first quarter. BNP Paribas Arbitrage SA now owns 2,322 shares of the company’s stock valued at $155,000 after acquiring an additional 2,038 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in The Providence Service by 54.7% in the first quarter. Assenagon Asset Management S.A. now owns 29,730 shares of the company’s stock valued at $1,981,000 after acquiring an additional 10,516 shares in the last quarter. SG Americas Securities LLC acquired a new stake in The Providence Service in the first quarter valued at approximately $340,000. Finally, Parallel Advisors LLC acquired a new stake in The Providence Service in the first quarter valued at approximately $27,000. 96.79% of the stock is currently owned by institutional investors.
Several brokerages recently weighed in on PRSC. BidaskClub raised shares of The Providence Service from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. TheStreet cut shares of The Providence Service from a “b-” rating to a “c+” rating in a report on Friday, June 28th.
In related news, CEO R Carter Pate acquired 1,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of $57.97 per share, with a total value of $57,970.00. Following the completion of the acquisition, the chief executive officer now owns 24,317 shares in the company, valued at $1,409,656.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 11.62% of the stock is currently owned by company insiders.
NASDAQ:PRSC traded up $1.78 during mid-day trading on Friday, hitting $59.43. The stock had a trading volume of 23,575 shares, compared to its average volume of 84,546. The stock has a 50-day simple moving average of $55.67 and a two-hundred day simple moving average of $63.35. The company has a market capitalization of $730.49 million, a PE ratio of 26.35 and a beta of 0.78. The Providence Service Co. has a twelve month low of $46.53 and a twelve month high of $75.61. The company has a current ratio of 1.47, a quick ratio of 1.40 and a debt-to-equity ratio of 0.04.
The Providence Service (NASDAQ:PRSC) last issued its earnings results on Wednesday, August 7th. The company reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.13). The firm had revenue of $363.91 million during the quarter, compared to analyst estimates of $364.40 million. The Providence Service had a negative net margin of 1.14% and a positive return on equity of 9.33%. The firm’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business earned $0.33 EPS.
About The Providence Service
The Providence Service Corporation provides healthcare services in the United States. It operates through Non-Emergency Transportation Services (NET Services) and Matrix Investment segments. The NET Services segment offers non-emergency medical transportation services for Medicaid or Medicare eligible members, whose limited mobility or financial resources hinder their ability to access necessary healthcare and social services.
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