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

BidaskClub cut shares of The Providence Service (NASDAQ:PRSC) from a sell rating to a strong sell rating in a research report report published on Thursday, June 20th, BidAskClub reports.

Shares of NASDAQ:PRSC traded down $0.28 during midday trading on Thursday, hitting $57.09. 24,448 shares of the company’s stock traded hands, compared to its average volume of 53,129. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $736.46 million, a P/E ratio of 25.96 and a beta of 0.75. The firm has a fifty day moving average price of $61.97. The Providence Service has a twelve month low of $54.02 and a twelve month high of $75.61.

The Providence Service (NASDAQ:PRSC) last posted its earnings results on Wednesday, May 8th. The company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.02. The Providence Service had a negative net margin of 1.79% and a positive return on equity of 9.39%. The business had revenue of $367.82 million for the quarter.

Institutional investors have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan bought a new stake in shares of The Providence Service in the 4th quarter worth about $191,000. Squarepoint Ops LLC bought a new stake in shares of The Providence Service in the 4th quarter worth about $513,000. Rhumbline Advisers increased its position in shares of The Providence Service by 19.0% in the 4th quarter. Rhumbline Advisers now owns 33,679 shares of the company’s stock worth $2,021,000 after purchasing an additional 5,389 shares during the last quarter. BBT Capital Management LLC bought a new stake in shares of The Providence Service in the 4th quarter worth about $275,000. Finally, THB Asset Management bought a new stake in shares of The Providence Service in the 1st quarter worth about $438,000. 96.79% of the stock is currently owned by hedge funds and other institutional investors.

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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