The Providence Service Co. (NASDAQ:PRSC) was the recipient of a large decline in short interest in 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. Currently, 1.6% of the company’s shares are short sold. Based on an average daily volume of 60,900 shares, the short-interest ratio is presently 3.3 days.

PRSC has been the subject of a number of recent analyst reports. TheStreet cut shares of The Providence Service from a “b-” rating to a “c+” rating in a research note on Friday, June 28th. BidaskClub raised shares of The Providence Service from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th.

Several hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC bought a new stake in The Providence Service during the 1st quarter valued at about $27,000. Quantamental Technologies LLC bought a new stake in The Providence Service during the 2nd quarter valued at about $36,000. Bank of Montreal Can lifted its holdings in The Providence Service by 83.4% during the 2nd quarter. Bank of Montreal Can now owns 2,153 shares of the company’s stock valued at $123,000 after buying an additional 979 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in The Providence Service by 717.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,322 shares of the company’s stock valued at $155,000 after buying an additional 2,038 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new stake in The Providence Service during the 4th quarter valued at about $191,000. 96.79% of the stock is owned by hedge funds and other institutional investors.

Shares of PRSC stock traded down $0.01 during trading hours on Tuesday, reaching $56.65. 54,612 shares of the stock were exchanged, compared to its average volume of 62,598. The Providence Service has a 12-month low of $46.53 and a 12-month 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 stock’s 50-day moving average is $55.66. The company has a market cap of $707.79 million, a price-to-earnings ratio of 25.53 and a beta of 0.78.

The Providence Service (NASDAQ:PRSC) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.13). The Providence Service had a positive return on equity of 9.33% and a negative net margin of 1.14%. The firm had revenue of $363.91 million for the quarter, compared to analysts’ expectations of $364.40 million. During the same period in the prior year, the firm posted $0.33 earnings per share. The Providence Service’s revenue for the quarter was up 5.9% on a year-over-year basis.

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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