Bailard Inc. Makes New Investment in Performant Healthcare, Inc. $PHLT

Bailard Inc. acquired a new stake in Performant Healthcare, Inc. (NASDAQ:PHLT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 75,192 shares of the company’s stock, valued at approximately $301,000. Bailard Inc. owned about 0.10% of Performant Healthcare at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Mirador Capital Partners LP acquired a new stake in Performant Healthcare in the second quarter valued at $9,698,000. CWC Advisors LLC. bought a new stake in shares of Performant Healthcare in the 2nd quarter valued at about $384,000. Salem Investment Counselors Inc. bought a new stake in shares of Performant Healthcare in the 2nd quarter valued at about $248,000. First Eagle Investment Management LLC acquired a new stake in Performant Healthcare in the 2nd quarter valued at about $10,817,000. Finally, HighMark Wealth Management LLC bought a new position in Performant Healthcare during the second quarter worth about $3,250,000. 77.15% of the stock is currently owned by institutional investors and hedge funds.

Performant Healthcare Stock Up 0.3%

PHLT stock opened at $7.75 on Friday. Performant Healthcare, Inc. has a fifty-two week low of $2.17 and a fifty-two week high of $7.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.64 and a quick ratio of 2.64. The stock has a market capitalization of $623.41 million, a price-to-earnings ratio of -775.00 and a beta of 0.69. The business’s fifty day moving average price is $7.72 and its two-hundred day moving average price is $5.64.

Performant Healthcare (NASDAQ:PHLT) last released its quarterly earnings results on Tuesday, March 15th. The company reported $0.08 EPS for the quarter. Performant Healthcare had a negative net margin of 0.64% and a negative return on equity of 0.04%. The business had revenue of $40.04 million for the quarter. On average, equities analysts anticipate that Performant Healthcare, Inc. will post -0.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Lake Street Capital lowered Performant Healthcare from a “buy” rating to a “hold” rating and set a $7.75 price objective on the stock. in a research note on Monday, August 4th. B. Riley lowered Performant Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday, August 4th. Wall Street Zen downgraded Performant Healthcare from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Performant Healthcare in a research report on Wednesday, October 8th. Finally, Citizens Jmp lowered shares of Performant Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.88.

About Performant Healthcare

Performant Healthcare, Inc engages in the provision of technology-enabled audit, recovery, customer care, and related analytics services. Its services help identify improper payments, and in some markets, restructure and recover delinquent or defaulted assets and improper payments for both government and private clients.