The Providence Service Co. (NASDAQ:PRSC) saw a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 202,400 shares, a decline of 21.2% from the June 30th total of 257,000 shares. Based on an average daily volume of 60,900 shares, the short-interest ratio is presently 3.3 days. Approximately 1.6% of the shares of the company are short sold.
A number of large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC purchased a new stake in shares of The Providence Service in the 1st quarter valued at $27,000. Quantamental Technologies LLC purchased a new stake in shares of The Providence Service in the 2nd quarter valued at $36,000. Bank of Montreal Can boosted its holdings in shares of The Providence Service by 83.4% in the 2nd quarter. Bank of Montreal Can now owns 2,153 shares of the company’s stock valued at $123,000 after acquiring an additional 979 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of The Providence Service by 717.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,322 shares of the company’s stock valued at $155,000 after acquiring an additional 2,038 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in shares of The Providence Service in the 4th quarter valued at $191,000. 96.79% of the stock is currently owned by institutional investors.
NASDAQ:PRSC traded down $0.01 during trading hours on Tuesday, hitting $56.65. 54,612 shares of the company were exchanged, compared to its average volume of 62,598. The stock has a market cap of $707.79 million, a PE ratio of 25.53 and a beta of 0.78. The Providence Service has a 52-week low of $46.53 and a 52-week high of $75.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.47 and a quick ratio of 1.40. The company’s 50 day moving average is $55.66.
Several analysts have weighed in on the stock. BidaskClub raised shares of The Providence Service from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. TheStreet downgraded shares of The Providence Service from a “b-” rating to a “c+” rating in a research report on Friday, June 28th.
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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