The Providence Service Co. (NASDAQ:PRSC) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 244,000 shares, a growth of 20.6% from the July 31st total of 202,400 shares. Based on an average daily volume of 63,600 shares, the days-to-cover ratio is currently 3.8 days. Currently, 1.9% of the company’s shares are short sold.
A number of brokerages recently commented on PRSC. BidaskClub upgraded The Providence Service from a “sell” rating to a “hold” rating in a report on Tuesday. TheStreet downgraded The Providence Service from a “b-” rating to a “c+” rating in a report on Friday, June 28th.
Shares of The Providence Service stock traded down $0.48 during midday trading on Friday, reaching $60.85. 29,532 shares of the company’s stock traded hands, compared to its average volume of 62,966. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market cap of $775.80 million, a PE ratio of 27.96 and a beta of 0.72. The stock has a 50 day moving average of $56.38 and a 200-day moving average of $61.98. The Providence Service has a 12 month low of $46.53 and a 12 month high of $75.61.
The Providence Service (NASDAQ:PRSC) last announced its earnings results on Wednesday, August 7th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.13). The business had revenue of $363.91 million for the quarter, compared to the consensus estimate 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 Providence Service’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 EPS.
In related news, CEO R Carter Pate acquired 1,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of $57.97 per share, for a total transaction of $57,970.00. Following the completion of the transaction, the chief executive officer now owns 24,317 shares of the company’s stock, valued at approximately $1,409,656.49. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kevin M. Dotts bought 864 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were acquired at an average price of $57.80 per share, with a total value of $49,939.20. Following the acquisition, the chief financial officer now owns 864 shares of the company’s stock, valued at $49,939.20. The disclosure for this purchase can be found here. Insiders own 11.62% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of PRSC. Rhumbline Advisers boosted its position in shares of The Providence Service by 0.7% during the first quarter. Rhumbline Advisers now owns 33,907 shares of the company’s stock valued at $2,259,000 after buying an additional 228 shares during the last quarter. WINTON GROUP Ltd lifted its holdings in The Providence Service by 3.7% in the second quarter. WINTON GROUP Ltd now owns 7,621 shares of the company’s stock valued at $437,000 after acquiring an additional 269 shares during the period. Man Group plc lifted its holdings in The Providence Service by 1.8% in the second quarter. Man Group plc now owns 15,823 shares of the company’s stock valued at $907,000 after acquiring an additional 282 shares during the period. Texas Permanent School Fund lifted its holdings in The Providence Service by 3.9% in the first quarter. Texas Permanent School Fund now owns 7,494 shares of the company’s stock valued at $499,000 after acquiring an additional 284 shares during the period. Finally, Swiss National Bank lifted its holdings in The Providence Service by 1.9% in the second quarter. Swiss National Bank now owns 21,400 shares of the company’s stock valued at $1,227,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds own 96.79% of the company’s stock.
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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