The Providence Service Corp. (NASDAQ:PRSC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Saturday.
According to Zacks, “Providence Service Corporation provides human services and non-emergency transportation (NET) management services to children, adolescents, young adults, and families. The Company focuses on providing its social services in the client’s home or in community-based settings. It provides its NET management services through local transportation providers. The company’s services are reimbursed by government programs such as welfare, juvenile justice, Medicaid or corrections. Providence Service Corporation is based in Tucson, Arizona. “
Shares of The Providence Service Corp. (NASDAQ:PRSC) opened at 47.52 on Friday. The firm has a market cap of $688.99 million, a price-to-earnings ratio of 11.55 and a beta of 0.99. The Providence Service Corp. has a one year low of $41.80 and a one year high of $56.92. The stock has a 50 day moving average price of $46.18 and a 200 day moving average price of $48.06.
The Providence Service Corp. (NASDAQ:PRSC) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.05. The Providence Service Corp. had a return on equity of 10.13% and a net margin of 3.51%. The company earned $450.60 million during the quarter, compared to the consensus estimate of $433.38 million. During the same quarter last year, the company earned $0.67 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. On average, equities research analysts forecast that The Providence Service Corp. will post $2.58 EPS for the current year.
In related news, CFO David Casey Shackelton bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 2nd. The stock was acquired at an average price of $46.85 per share, for a total transaction of $93,700.00. Following the transaction, the chief financial officer now directly owns 13,319 shares of the company’s stock, valued at $623,995.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David A. Coulter bought 4,225 shares of the business’s stock in a transaction that occurred on Friday, September 16th. The shares were bought at an average price of $47.29 per share, with a total value of $199,800.25. Following the transaction, the director now directly owns 6,159 shares in the company, valued at $291,259.11. The disclosure for this purchase can be found here. 14.40% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Riverhead Capital Management LLC increased its position in The Providence Service Corp. by 352,260.8% in the second quarter. Riverhead Capital Management LLC now owns 15,000,000 shares of the company’s stock valued at $14,176,000 after buying an additional 14,995,743 shares during the period. American Century Companies Inc. increased its position in The Providence Service Corp. by 31.8% in the second quarter. American Century Companies Inc. now owns 277,000 shares of the company’s stock valued at $12,432,000 after buying an additional 66,841 shares during the period. Emerald Acquisition Ltd. bought a new position in The Providence Service Corp. during the second quarter valued at approximately $1,984,000. Dimensional Fund Advisors LP increased its position in The Providence Service Corp. by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 818,314 shares of the company’s stock valued at $36,726,000 after buying an additional 36,273 shares during the period. Finally, Renaissance Technologies LLC increased its position in The Providence Service Corp. by 3.6% in the first quarter. Renaissance Technologies LLC now owns 955,500 shares of the company’s stock valued at $48,797,000 after buying an additional 33,600 shares during the period. Institutional investors and hedge funds own 97.25% of the company’s stock.
The Providence Service Corp. Company Profile
The Providence Service Corporation is a holding company. The Company, through its subsidiaries, provides critical healthcare and workforce development services. It operates in over two industry sectors, including the United States healthcare and global workforce development, through its three operating segments: Non-Emergency Transportation Services (NET Services), Workforce Development Services (WD Services) and Health Assessment Services (HA Services).
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