Wedge Capital Management L L P NC Increases Holdings in The Providence Service Co. (NASDAQ:PRSC)

Wedge Capital Management L L P NC increased its holdings in shares of The Providence Service Co. (NASDAQ:PRSC) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 273,416 shares of the company’s stock after purchasing an additional 1,788 shares during the period. Wedge Capital Management L L P NC owned 2.12% of The Providence Service worth $15,678,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC purchased a new stake in The Providence Service during the 1st quarter worth $27,000. BNP Paribas Arbitrage SA boosted its position 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 worth $155,000 after purchasing an additional 2,038 shares during the period. Municipal Employees Retirement System of Michigan purchased a new stake in The Providence Service during the 4th quarter worth $191,000. SG Americas Securities LLC purchased a new stake in The Providence Service during the 1st quarter worth $340,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in The Providence Service during the 1st quarter worth $377,000. 96.79% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:PRSC traded up $0.20 on Wednesday, reaching $56.85. The stock had a trading volume of 8,998 shares, compared to its average volume of 62,598. 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 stock’s 50-day moving average price is $55.66. The company has a market cap of $707.79 million, a PE ratio of 25.53 and a beta of 0.78. The Providence Service Co. has a 12-month low of $46.53 and a 12-month high of $75.61.



The Providence Service (NASDAQ:PRSC) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.13). The firm had revenue of $363.91 million during the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 earnings per share.

A number of equities analysts have weighed in on the stock. TheStreet cut shares of The Providence Service from a “b-” rating to a “c+” rating in a research report on Friday, June 28th. BidaskClub raised shares of The Providence Service from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th.

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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Institutional Ownership by Quarter for The Providence Service (NASDAQ:PRSC)

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