The Providence Service (NASDAQ:PRSC) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of The Providence Service (NASDAQ:PRSC) from a sell rating to a hold rating in a report published on Tuesday morning, BidAskClub reports.

Separately, TheStreet cut shares of The Providence Service from a b- rating to a c+ rating in a research note on Friday, June 28th.

Shares of PRSC traded down $0.05 during mid-day trading on Tuesday, hitting $61.28. 3,142 shares of the company’s stock were exchanged, compared to its average volume of 64,638. The company has a market cap of $775.80 million, a PE ratio of 27.96 and a beta of 0.72. The Providence Service has a 52 week low of $46.53 and a 52 week high of $75.61. The company has a 50-day simple moving average of $56.38 and a 200 day simple moving average of $61.98. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.47 and a quick ratio of 1.47.



The Providence Service (NASDAQ:PRSC) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate 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 positive return on equity of 9.33% and a negative net margin of 1.14%. The Providence Service’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 earnings per share.

In other news, CFO Kevin M. Dotts bought 864 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was acquired at an average cost of $57.80 per share, with a total value of $49,939.20. Following the completion of the purchase, the chief financial officer now owns 864 shares of the company’s stock, valued at $49,939.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO R Carter Pate bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of $57.97 per share, with a total value of $57,970.00. Following the completion of the purchase, the chief executive officer now directly owns 24,317 shares of the company’s stock, valued at approximately $1,409,656.49. The disclosure for this purchase can be found here. 11.62% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers boosted its position in The Providence Service by 0.7% during the first quarter. Rhumbline Advisers now owns 33,907 shares of the company’s stock worth $2,259,000 after purchasing an additional 228 shares during the period. WINTON GROUP Ltd boosted its position in The Providence Service by 3.7% during the second quarter. WINTON GROUP Ltd now owns 7,621 shares of the company’s stock worth $437,000 after purchasing an additional 269 shares during the period. Man Group plc boosted its position in The Providence Service by 1.8% during the second quarter. Man Group plc now owns 15,823 shares of the company’s stock worth $907,000 after purchasing an additional 282 shares during the period. Texas Permanent School Fund boosted its position in The Providence Service by 3.9% during the first quarter. Texas Permanent School Fund now owns 7,494 shares of the company’s stock worth $499,000 after purchasing an additional 284 shares during the period. Finally, Swiss National Bank boosted its position in The Providence Service by 1.9% during the second quarter. Swiss National Bank now owns 21,400 shares of the company’s stock worth $1,227,000 after purchasing an additional 400 shares during the period. 96.79% of the stock is owned by institutional investors and hedge funds.

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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