Performant Financial (NASDAQ:PFMT) Lowered to “Sell” at StockNews.com

StockNews.com downgraded shares of Performant Financial (NASDAQ:PFMTGet Rating) from a hold rating to a sell rating in a report published on Tuesday.

Other analysts have also issued research reports about the stock. Colliers Securities restated a buy rating on shares of Performant Financial in a research report on Tuesday, March 22nd. TheStreet raised shares of Performant Financial from a d+ rating to a c rating in a research note on Tuesday, April 5th. Finally, Lake Street Capital began coverage on Performant Financial in a report on Monday, April 11th. They issued a buy rating for the company. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $10.50.

PFMT stock opened at $2.36 on Tuesday. Performant Financial has a twelve month low of $1.85 and a twelve month high of $5.29. The company has a current ratio of 4.17, a quick ratio of 4.17 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $172.62 million, a P/E ratio of -19.67 and a beta of -0.29. The business has a 50 day simple moving average of $2.43 and a 200-day simple moving average of $2.43.

Performant Financial (NASDAQ:PFMTGet Rating) last posted its quarterly earnings results on Monday, May 9th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter. Performant Financial had a negative return on equity of 10.15% and a negative net margin of 6.26%. The firm had revenue of $27.08 million for the quarter. During the same period in the prior year, the company earned ($0.06) earnings per share.

In other Performant Financial news, major shareholder Prescott Group Capital Managem purchased 100,000 shares of the firm’s stock in a transaction on Friday, March 25th. The shares were purchased at an average price of $2.84 per share, for a total transaction of $284,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 14.20% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Eagle Investment Management LLC boosted its holdings in Performant Financial by 256.2% in the 4th quarter. First Eagle Investment Management LLC now owns 179,901 shares of the business services provider’s stock valued at $434,000 after purchasing an additional 129,401 shares during the period. Brown Advisory Inc. bought a new stake in Performant Financial during the 4th quarter worth about $40,000. Schonfeld Strategic Advisors LLC grew its stake in shares of Performant Financial by 13.0% during the third quarter. Schonfeld Strategic Advisors LLC now owns 86,300 shares of the business services provider’s stock valued at $342,000 after purchasing an additional 9,900 shares during the last quarter. Mirador Capital Partners LP boosted its holdings in Performant Financial by 60.1% in the fourth quarter. Mirador Capital Partners LP now owns 1,001,885 shares of the business services provider’s stock valued at $2,415,000 after acquiring an additional 375,929 shares during the last quarter. Finally, Potomac Capital Management Inc. acquired a new stake in Performant Financial during the 1st quarter worth $156,000. Hedge funds and other institutional investors own 80.19% of the company’s stock.

Performant Financial Company Profile (Get Rating)

Performant Financial Corporation provides technology-enabled audit, recovery, outsource customer, and related analytics services in the United States. The company offers recovery services to the clients in Federal guaranteed student loan program and private institutions; identifies and tracks defaulted borrowers across its clients' portfolios of student loans; rehabilitates and recovers past due student loans; provides tax recovery services to federal, state and municipal agencies; recovers government debt for various federal agencies; and offers audit and recovery services to identify improper healthcare payments for public and private healthcare clients.

See Also

Receive News & Ratings for Performant Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Performant Financial and related companies with MarketBeat.com's FREE daily email newsletter.