The Providence Service Corp. (PRSC) Now Covered by Avondale Partners
Analysts at Avondale Partners initiated coverage on shares of The Providence Service Corp. (NASDAQ:PRSC) in a report issued on Tuesday. The firm set a “market perform” rating on the stock.
A number of other equities research analysts also recently weighed in on the company. TheStreet raised The Providence Service Corp. from a “hold” rating to a “buy” rating in a research note on Monday, October 3rd. Zacks Investment Research downgraded The Providence Service Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, September 24th.
Shares of The Providence Service Corp. (NASDAQ:PRSC) opened at 48.01 on Tuesday. The firm has a market capitalization of $696.10 million, a price-to-earnings ratio of 11.67 and a beta of 1.06. The Providence Service Corp. has a 52-week low of $42.03 and a 52-week high of $56.92. The company’s 50 day moving average price is $47.34 and its 200 day moving average price is $47.89.
The Providence Service Corp. (NASDAQ:PRSC) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.70 earnings per share 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 period last year, the business earned $0.67 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. Analysts forecast that The Providence Service Corp. will post $2.58 earnings per share for the current year.
In other The Providence Service Corp. news, CEO James M. Lindstrom bought 2,500 shares of the stock in a transaction on Friday, September 2nd. The shares were purchased at an average price of $46.61 per share, with a total value of $116,525.00. Following the acquisition, the chief executive officer now directly owns 26,153 shares of the company’s stock, valued at approximately $1,218,991.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David A. Coulter bought 4,225 shares of the stock in a transaction on Friday, September 16th. The stock was acquired at an average cost of $47.29 per share, for a total transaction of $199,800.25. Following the acquisition, 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 corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Riverhead Capital Management LLC raised its stake 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 worth $14,176,000 after buying an additional 14,995,743 shares during the period. Renaissance Technologies LLC raised its stake 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 worth $48,797,000 after buying an additional 33,600 shares during the period. BlackRock Fund Advisors raised its stake in The Providence Service Corp. by 1.7% in the second quarter. BlackRock Fund Advisors now owns 830,052 shares of the company’s stock worth $37,253,000 after buying an additional 13,687 shares during the period. Dimensional Fund Advisors LP raised its stake 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 worth $36,726,000 after buying an additional 36,273 shares during the period. Finally, Vanguard Group Inc. raised its stake in The Providence Service Corp. by 3.3% in the second quarter. Vanguard Group Inc. now owns 588,795 shares of the company’s stock worth $26,424,000 after buying an additional 19,047 shares during the period. 97.25% of the stock is currently owned by hedge funds and other institutional investors.
About The Providence Service Corp.
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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