Panagora Asset Management Inc. increased its position in shares of The Providence Service Co. (NASDAQ:PRSC) by 59.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,112 shares of the company’s stock after acquiring an additional 22,757 shares during the quarter. Panagora Asset Management Inc. owned about 0.48% of The Providence Service worth $4,112,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC bought a new position in The Providence Service during the 2nd quarter worth approximately $207,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in The Providence Service during the 2nd quarter worth approximately $228,000. SG Americas Securities LLC boosted its stake in The Providence Service by 98.6% during the 2nd quarter. SG Americas Securities LLC now owns 3,497 shares of the company’s stock worth $275,000 after acquiring an additional 1,736 shares during the last quarter. United Services Automobile Association boosted its stake in The Providence Service by 35.2% during the 2nd quarter. United Services Automobile Association now owns 4,476 shares of the company’s stock worth $352,000 after acquiring an additional 1,166 shares during the last quarter. Finally, Laurion Capital Management LP bought a new position in The Providence Service during the 2nd quarter worth approximately $438,000. 97.17% of the stock is currently owned by institutional investors and hedge funds.
Shares of PRSC opened at $67.74 on Friday. The Providence Service Co. has a twelve month low of $55.69 and a twelve month high of $83.90. The company has a market capitalization of $867.70 million, a price-to-earnings ratio of 33.04 and a beta of 0.67.
The Providence Service (NASDAQ:PRSC) last announced its quarterly earnings results on Wednesday, November 7th. The company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.30. The Providence Service had a net margin of 1.80% and a return on equity of 8.71%. The firm had revenue of $421.32 million for the quarter, compared to analyst estimates of $404.90 million. During the same quarter in the previous year, the firm posted $0.32 earnings per share. The business’s revenue was up 2.9% on a year-over-year basis.
PRSC has been the topic of a number of research reports. ValuEngine lowered shares of The Providence Service from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. BidaskClub raised shares of The Providence Service from a “sell” rating to a “hold” rating in a research note on Saturday, October 6th.
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The Providence Service Company Profile
The Providence Service Corporation, through its subsidiaries, provides healthcare and workforce development services in the United States and internationally. It operates in two segments, Non-Emergency Transportation Services (NET Services) and Workforce Development Services (WD Services). 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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