Eagle Boston Investment Management Inc. trimmed its position in shares of Providence Service Co. (NASDAQ:PRSC) by 18.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 181,540 shares of the company’s stock after selling 41,883 shares during the period. Providence Service makes up approximately 1.2% of Eagle Boston Investment Management Inc.’s investment portfolio, making the stock its 23rd largest position. Eagle Boston Investment Management Inc. owned about 1.39% of Providence Service worth $12,551,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Trexquant Investment LP grew its stake in Providence Service by 13.4% during the first quarter. Trexquant Investment LP now owns 5,903 shares of the company’s stock worth $408,000 after buying an additional 696 shares in the last quarter. Guggenheim Capital LLC grew its stake in Providence Service by 3.0% during the fourth quarter. Guggenheim Capital LLC now owns 37,384 shares of the company’s stock worth $2,219,000 after buying an additional 1,075 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in Providence Service by 13.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 12,909 shares of the company’s stock worth $893,000 after buying an additional 1,572 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Providence Service by 2.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 58,773 shares of the company’s stock valued at $4,064,000 after purchasing an additional 1,667 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Providence Service in the 1st quarter valued at approximately $122,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.
PRSC opened at $75.01 on Friday. Providence Service Co. has a 1-year low of $71.65 and a 1-year high of $73.80. The company has a market capitalization of $948.01 million, a PE ratio of 44.76 and a beta of 0.80.
In other news, Director Richard A. Kerley sold 667 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $70.89, for a total value of $47,283.63. Following the sale, the director now directly owns 31,836 shares in the company, valued at approximately $2,256,854.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David Casey Shackelton sold 31,467 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $70.22, for a total transaction of $2,209,612.74. Following the completion of the sale, the chief financial officer now owns 44,401 shares in the company, valued at $3,117,838.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,667 shares of company stock worth $4,371,899. 18.93% of the stock is currently owned by corporate insiders.
PRSC has been the topic of a number of research analyst reports. ValuEngine upgraded shares of Providence Service from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 21st. BidaskClub downgraded shares of Providence Service from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 28th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $67.00.
About Providence Service
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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