Price Change to Note: Is Selling 52-Week Stock Like The Providence Service Corporation a Winning Strategy?

Price Change to Note: Is Selling 52 Week Stock Like The Providence Service Corporation a Winning Strategy?

The stock of The Providence Service Corporation (NASDAQ:PRSC) hit a new 52-week low and has $38.22 target or 5.00% below today’s $40.23 share price. The 6 months bearish chart indicates high risk for the $561.89 million company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $38.22 price target is reached, the company will be worth $28.09 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock increased 3.21% or $1.25 during the last trading session, hitting $40.23. About 129,247 shares traded hands or 37.40% up from the average. The Providence Service Corporation (NASDAQ:PRSC) has declined 23.67% since March 31, 2016 and is downtrending. It has underperformed by 26.20% the S&P500.

Analysts await The Providence Service Corporation (NASDAQ:PRSC) to report earnings on November, 14. They expect $0.62 EPS, up 785.71% or $0.55 from last year’s $0.07 per share. PRSC’s profit will be $8.66M for 16.22 P/E if the $0.62 EPS becomes a reality. After $0.70 actual EPS reported by The Providence Service Corporation for the previous quarter, Wall Street now forecasts -11.43% negative EPS growth.

The Providence Service Corporation (NASDAQ:PRSC) Ratings Coverage

Out of 2 analysts covering The Providence Service Corporation (NASDAQ:PRSC), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. The Providence Service Corporation has been the topic of 3 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by Barrington Research given on Monday, August 10. On Tuesday, October 11 the stock rating was initiated by Avondale with “Mkt Perform”. The stock of The Providence Service Corporation (NASDAQ:PRSC) earned “Outperform” rating by Barrington Research on Tuesday, September 22.

According to Zacks Investment Research, “Providence Service Corporation provides human services and non-emergency transportation (NET) management services to children, adolescents, young adults, and families. The Company focuses on providing its social services in the client’s home or in community-based settings. It provides its NET management services through local transportation providers. The company’s services are reimbursed by government programs such as welfare, juvenile justice, Medicaid or corrections. Providence Service Corporation is based in Tucson, Arizona.”

Insitutional Activity: The institutional sentiment increased to 1.21 in Q2 2016. Its up 0.12, from 1.09 in 2016Q1. The ratio improved, as 10 funds sold all The Providence Service Corporation shares owned while 38 reduced positions. 22 funds bought stakes while 36 increased positions. They now own 14.03 million shares or 2.51% less from 14.39 million shares in 2016Q1.
Allianz Asset Mgmt Ag holds 160,964 shares or 0% of its portfolio. Pinebridge Lp last reported 1,482 shares in the company. Glenmede Trust Com Na accumulated 0% or 3,926 shares. Rhumbline Advisers holds 17,816 shares or 0% of its portfolio. Citadel Lc last reported 0% of its portfolio in the stock. Moreover, Teachers has 0% invested in The Providence Service Corporation (NASDAQ:PRSC) for 34,567 shares. Brown Advisory holds 444,214 shares or 0.07% of its portfolio. Price T Rowe Associate Inc Md accumulated 6,640 shares or 0% of the stock. Springbok Limited Liability last reported 628 shares in the company. Great West Life Assurance Com Can reported 1,482 shares or 0% of all its holdings. Alpine Woods Cap Investors Ltd Liability Co accumulated 4,968 shares or 0.01% of the stock. Deutsche Savings Bank Ag accumulated 367,164 shares or 0.01% of the stock. State Board Of Administration Of Florida Retirement Systems last reported 9,343 shares in the company. Mckinley Management Limited Liability Corp Delaware reported 630 shares or 0% of all its holdings. Morgan Stanley accumulated 34,657 shares or 0% of the stock.

Insider Transactions: Since September 2, 2016, the stock had 4 insider purchases, and 0 insider sales for $433,527 net activity. COULTER DAVID A had bought 4,225 shares worth $199,800 on Friday, September 16. 500 shares with value of $23,502 were bought by Umscheid Matthew on Friday, September 2. Shackelton David Casey also bought $93,700 worth of The Providence Service Corporation (NASDAQ:PRSC) shares. 2,500 The Providence Service Corporation (NASDAQ:PRSC) shares with value of $116,525 were bought by LINDSTROM JAMES M.

More notable recent The Providence Service Corporation (NASDAQ:PRSC) news were published by: Globenewswire.com which released: “Providence Service Corporation to Report Third Quarter 2016 Results on Tuesday …” on November 01, 2016, also Globenewswire.com with their article: “Providence Service Corporation and Frazier Healthcare Partners Announce …” published on August 29, 2016, Prnewswire.com published: “Providence Service Corporation Completes Sale of Providence Human Services and …” on November 02, 2015. More interesting news about The Providence Service Corporation (NASDAQ:PRSC) were released by: Prnewswire.com and their article: “Providence Service Corporation Appoints James M. Lindstrom as Chief Executive …” published on August 06, 2015 as well as Prnewswire.com‘s news article titled: “Providence Service Corporation Appoints David Shackelton as Chief Financial …” with publication date: October 01, 2015.

PRSC Company Profile

The Providence Service Corporation (Providence), incorporated on December 20, 1996, is a holding company. The Company, through its subsidiaries, provides critical healthcare and workforce development services. The Firm operates in over two industry sectors, including the United States healthcare and global workforce development, through its three operating divisions: Non-Emergency Transportation Services (NET Services), Workforce Development Services (WD Services) and Health Assessment Services (HA Services). The NET Services segment coordinates non-emergency transportation for individuals whose limited mobility and/or financial resources would otherwise hinder them from accessing necessary healthcare and social services. The WD Services segment primarily provides employability and offender rehabilitation services to eligible participants of government sponsored programs. The HA Services segment provides care optimization and delivery solutions, including comprehensive health assessments (CHAs) for health plans, as well as in-home care management offerings. The Firm operates in over 44 states and the District of Columbia in the United States, and in approximately 11 countries outside of the United States.

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