The Providence Service Co. (NASDAQ:PRSC) was the target of a large growth in short interest in the month of October. As of October 30th, there was short interest totalling 172,500 shares, a growth of 30.4% from the October 15th total of 132,300 shares. Based on an average trading volume of 93,100 shares, the short-interest ratio is currently 1.9 days.
Large investors have recently bought and sold shares of the company. Altshuler Shaham Ltd acquired a new position in shares of The Providence Service during the 3rd quarter worth $27,000. Baron Financial Group LLC bought a new stake in shares of The Providence Service during the third quarter valued at about $35,000. Nisa Investment Advisors LLC bought a new stake in The Providence Service in the third quarter worth about $42,000. PNC Financial Services Group Inc. increased its stake in The Providence Service by 15.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 829 shares of the company's stock worth $65,000 after purchasing an additional 110 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in The Providence Service by 193.3% in the 2nd quarter. Bank of Montreal Can now owns 1,613 shares of the company's stock worth $125,000 after purchasing an additional 1,063 shares in the last quarter.
A number of research analysts recently weighed in on the stock. Barrington Research lifted their price objective on shares of The Providence Service from $104.00 to $152.00 and gave the company an "outperform" rating in a report on Monday, November 9th. TheStreet upgraded shares of The Providence Service from a "c+" rating to an "a-" rating in a report on Friday, November 13th. Finally, Zacks Investment Research cut shares of The Providence Service from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 7th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The Providence Service presently has an average rating of "Buy" and a consensus target price of $123.00.
NASDAQ:PRSC opened at $130.84 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.07. The Providence Service has a fifty-two week low of $40.40 and a fifty-two week high of $138.68. The stock has a market cap of $1.86 billion, a PE ratio of -2,180.30 and a beta of 0.84. The firm's fifty day simple moving average is $114.06 and its 200-day simple moving average is $89.41.
The Providence Service (NASDAQ:PRSC) last posted its quarterly earnings results on Wednesday, November 11th. The company reported $2.69 earnings per share for the quarter, topping the Zacks' consensus estimate of $1.42 by $1.27. The Providence Service had a net margin of 0.23% and a return on equity of 17.59%. The business had revenue of $320.60 million for the quarter, compared to analysts' expectations of $341.98 million. The firm's revenue for the quarter was down 18.5% on a year-over-year basis. Equities analysts anticipate that The Providence Service will post 5 earnings per share for the current year.
About The Providence Service
The Providence Service Corporation provides healthcare services in the United States. It operates through Non-Emergency Medical 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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