The Providence Service Corp. (PRSC) Research Coverage Started at Avondale Partners
Stock analysts at Avondale Partners assumed coverage on shares of The Providence Service Corp. (NASDAQ:PRSC) in a report released on Tuesday, The Fly reports. The brokerage set a “market perform” rating on the stock.
Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of The Providence Service Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. TheStreet upgraded shares of The Providence Service Corp. from a “hold” rating to a “buy” rating in a research report on Monday, October 3rd.
The Providence Service Corp. (NASDAQ:PRSC) opened at 47.66 on Tuesday. The stock has a market cap of $691.02 million, a PE ratio of 11.59 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 is $47.10 and its 200-day moving average is $47.89.
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The Providence Service Corp. (NASDAQ:PRSC) last announced its earnings results on Monday, August 1st. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The company earned $450.60 million during the quarter, compared to analysts’ expectations of $433.38 million. The Providence Service Corp. had a net margin of 3.51% and a return on equity of 10.13%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 earnings per share. On average, equities analysts anticipate that The Providence Service Corp. will post $2.58 earnings per share for the current year.
In other news, CEO James M. Lindstrom acquired 2,500 shares of the business’s stock in a transaction dated Friday, September 2nd. The stock was acquired at an average price of $46.61 per share, with a total value of $116,525.00. Following the completion of the transaction, the chief executive officer now directly owns 26,153 shares in the company, valued at approximately $1,218,991.33. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David A. Coulter acquired 4,225 shares of the business’s stock in a transaction dated Friday, September 16th. The stock was purchased at an average cost of $47.29 per share, with a total value of $199,800.25. Following the transaction, the director now owns 6,159 shares of the company’s stock, valued at $291,259.11. The disclosure for this purchase can be found here. 14.40% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of PRSC. Mason Street Advisors LLC purchased a new position in The Providence Service Corp. during the second quarter worth $107,000. Aristotle Capital Boston LLC raised its position in The Providence Service Corp. by 3.4% in the second quarter. Aristotle Capital Boston LLC now owns 180,958 shares of the company’s stock worth $8,121,000 after buying an additional 5,874 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in The Providence Service Corp. by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 51,148 shares of the company’s stock worth $2,296,000 after buying an additional 894 shares in the last quarter. AHL Partners LLP purchased a new position in The Providence Service Corp. during the second quarter worth $223,000. Finally, Highbridge Capital Management LLC purchased a new position in The Providence Service Corp. during the second quarter worth $473,000. 97.25% of the stock is owned by institutional investors and hedge funds.
The Providence Service Corp. Company Profile
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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