The Providence Service Co. (NASDAQ:PRSC) Short Interest Up 20.6% in August

The Providence Service Co. (NASDAQ:PRSC) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 244,000 shares, an increase of 20.6% from the July 31st total of 202,400 shares. Based on an average daily volume of 63,600 shares, the short-interest ratio is presently 3.8 days. Currently, 1.9% of the shares of the company are sold short.

A number of research analysts have recently issued reports on PRSC shares. BidaskClub upgraded The Providence Service from a “sell” rating to a “hold” rating in a research report on Tuesday. TheStreet lowered The Providence Service from a “b-” rating to a “c+” rating in a research report on Friday, June 28th.

Shares of NASDAQ:PRSC traded down $0.11 during midday trading on Thursday, reaching $61.33. 49,212 shares of the company’s stock traded hands, compared to its average volume of 63,060. The Providence Service has a 1 year low of $46.53 and a 1 year high of $75.61. The company has a market cap of $758.09 million, a P/E ratio of 27.34 and a beta of 0.72. 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 fifty day simple moving average of $56.38 and a two-hundred day simple moving average of $61.98.



The Providence Service (NASDAQ:PRSC) last announced its earnings results on Wednesday, August 7th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.13). The Providence Service had a negative net margin of 1.14% and a positive return on equity of 9.33%. The business had revenue of $363.91 million for the quarter, compared to analysts’ expectations of $364.40 million. During the same quarter last year, the business earned $0.33 EPS. The company’s quarterly revenue was up 5.9% on a year-over-year basis.

In related news, CFO Kevin M. Dotts acquired 864 shares of the stock in a transaction on Friday, August 16th. The shares were acquired at an average price of $57.80 per share, for a total transaction of $49,939.20. Following the transaction, the chief financial officer now owns 864 shares in the company, valued at approximately $49,939.20. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO R Carter Pate acquired 1,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was bought at an average price of $57.97 per share, for a total transaction of $57,970.00. Following the transaction, the chief executive officer now owns 24,317 shares in the company, valued at approximately $1,409,656.49. The disclosure for this purchase can be found here. Corporate insiders own 11.62% of the company’s stock.

Several large investors have recently made changes to their positions in PRSC. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of The Providence Service during the 1st quarter valued at approximately $14,306,000. Nuveen Asset Management LLC purchased a new position in shares of The Providence Service during the 2nd quarter valued at approximately $10,735,000. Cardinal Capital Management LLC CT lifted its position in shares of The Providence Service by 62.5% during the 2nd quarter. Cardinal Capital Management LLC CT now owns 274,578 shares of the company’s stock valued at $15,744,000 after buying an additional 105,601 shares in the last quarter. Monarch Partners Asset Management LLC purchased a new position in shares of The Providence Service during the 1st quarter valued at approximately $2,884,000. Finally, Morgan Stanley lifted its position in shares of The Providence Service by 326.4% during the 2nd quarter. Morgan Stanley now owns 50,331 shares of the company’s stock valued at $2,885,000 after buying an additional 38,526 shares in the last quarter. Hedge funds and other institutional investors own 96.79% of the company’s stock.

The Providence Service Company Profile

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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