Short Interest in The Providence Service Co. (NASDAQ:PRSC) Drops By 21.2%

The Providence Service Co. (NASDAQ:PRSC) saw a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 202,400 shares, a decrease of 21.2% from the June 30th total of 257,000 shares. Based on an average daily trading volume, of 60,900 shares, the days-to-cover ratio is presently 3.3 days. Approximately 1.6% of the company’s stock are sold short.

Several equities research analysts have recently commented on the company. TheStreet downgraded The Providence Service from a “b-” rating to a “c+” rating in a report on Friday, June 28th. BidaskClub raised The Providence Service from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC acquired a new stake in The Providence Service during the 1st quarter valued at $27,000. Quantamental Technologies LLC acquired a new stake in The Providence Service during the 2nd quarter valued at $36,000. Bank of Montreal Can lifted its holdings in The Providence Service by 83.4% during the 2nd quarter. Bank of Montreal Can now owns 2,153 shares of the company’s stock valued at $123,000 after purchasing an additional 979 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in The Providence Service by 717.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,322 shares of the company’s stock valued at $155,000 after purchasing an additional 2,038 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in The Providence Service during the 4th quarter valued at $191,000. 96.79% of the stock is owned by institutional investors.



NASDAQ PRSC opened at $57.13 on Thursday. The firm has a market cap of $730.62 million, a P/E ratio of 26.35 and a beta of 0.78. 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 has a 12 month low of $46.53 and a 12 month high of $75.61. The firm has a 50 day moving average of $55.66.

The Providence Service (NASDAQ:PRSC) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.13). The company 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 company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company posted $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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