Renaissance Technologies LLC Cuts Stock Position in The Providence Service Co. (NASDAQ:PRSC)

Renaissance Technologies LLC cut its holdings in shares of The Providence Service Co. (NASDAQ:PRSC) by 4.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 907,099 shares of the company’s stock after selling 44,200 shares during the quarter. Renaissance Technologies LLC owned approximately 7.03% of The Providence Service worth $52,013,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. THB Asset Management purchased a new position in shares of The Providence Service in the 1st quarter worth about $438,000. Kennedy Capital Management Inc. raised its holdings in shares of The Providence Service by 10.5% in the 1st quarter. Kennedy Capital Management Inc. now owns 96,910 shares of the company’s stock worth $6,456,000 after purchasing an additional 9,228 shares during the period. Wedge Capital Management L L P NC lifted its stake in The Providence Service by 0.7% in the second quarter. Wedge Capital Management L L P NC now owns 273,416 shares of the company’s stock valued at $15,678,000 after purchasing an additional 1,788 shares during the last quarter. Rhumbline Advisers lifted its stake in The Providence Service by 0.7% in the first quarter. Rhumbline Advisers now owns 33,907 shares of the company’s stock valued at $2,259,000 after purchasing an additional 228 shares during the last quarter. Finally, WINTON GROUP Ltd grew its holdings in The Providence Service by 3.7% during the second quarter. WINTON GROUP Ltd now owns 7,621 shares of the company’s stock valued at $437,000 after purchasing an additional 269 shares during the period. 96.79% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on PRSC shares. BidaskClub raised The Providence Service from a “sell” rating to a “hold” rating in a report on Tuesday. TheStreet lowered shares of The Providence Service from a “b-” rating to a “c+” rating in a research note on Friday, June 28th.

NASDAQ:PRSC traded up $0.80 during mid-day trading on Wednesday, hitting $60.92. 11,301 shares of the stock traded hands, compared to its average volume of 63,438. The business’s 50-day moving average price is $56.23 and its 200 day moving average price is $62.04. The company has a market cap of $758.09 million, a PE ratio of 27.34 and a beta of 0.72. The Providence Service Co. has a 12-month low of $46.53 and a 12-month high of $75.61. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.04.

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

In other news, CEO R Carter Pate acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average cost of $57.97 per share, for a total transaction of $57,970.00. Following the acquisition, the chief executive officer now owns 24,317 shares of the company’s stock, valued at $1,409,656.49. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin M. Dotts acquired 864 shares of The Providence Service stock in a transaction dated Friday, August 16th. The shares were purchased at an average price of $57.80 per share, for a total transaction of $49,939.20. Following the completion of the transaction, the chief financial officer now directly owns 864 shares in the company, valued at approximately $49,939.20. The disclosure for this purchase can be found here. Company insiders own 11.62% of the company’s stock.

About The Providence Service

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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Institutional Ownership by Quarter for The Providence Service (NASDAQ:PRSC)

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