Performant Financial Co. (NASDAQ:PFMT) Given Consensus Recommendation of “Hold” by Analysts

Shares of Performant Financial Co. (NASDAQ:PFMTGet Rating) have earned a consensus recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $10.00.

A number of research analysts recently issued reports on the stock. Lake Street Capital assumed coverage on shares of Performant Financial in a research note on Monday, April 11th. They issued a “buy” rating for the company. StockNews.com began coverage on shares of Performant Financial in a research report on Thursday, March 31st. They set a “hold” rating for the company. Colliers Securities restated a “buy” rating on shares of Performant Financial in a research report on Tuesday, March 22nd. Zacks Investment Research downgraded shares of Performant Financial from a “hold” rating to a “sell” rating in a research report on Saturday, March 19th. Finally, TheStreet upgraded shares of Performant Financial from a “d+” rating to a “c” rating in a research report on Tuesday, April 5th.

In related news, major shareholder Prescott Group Capital Managem purchased 106,621 shares of Performant Financial stock in a transaction dated Friday, January 21st. The stock was bought at an average cost of $2.01 per share, for a total transaction of $214,308.21. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Ecmc Group, Inc. sold 16,500 shares of Performant Financial stock in a transaction that occurred on Friday, February 25th. The shares were sold at an average price of $2.25, for a total transaction of $37,125.00. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 837,467 shares of company stock worth $1,733,995 and sold 351,594 shares worth $784,891. 14.20% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the company. Brown Advisory Inc. purchased a new stake in shares of Performant Financial during the 4th quarter valued at $40,000. Manatuck Hill Partners LLC purchased a new stake in Performant Financial during the 3rd quarter worth approximately $396,000. EAM Investors LLC increased its holdings in Performant Financial by 110.9% during the 3rd quarter. EAM Investors LLC now owns 636,227 shares of the business services provider’s stock worth $2,519,000 after purchasing an additional 334,585 shares during the last quarter. Capstone Investment Advisors LLC purchased a new stake in Performant Financial during the 3rd quarter worth approximately $43,000. Finally, Schonfeld Strategic Advisors LLC increased its holdings in Performant Financial by 13.0% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 86,300 shares of the business services provider’s stock worth $342,000 after purchasing an additional 9,900 shares during the last quarter. Institutional investors own 85.38% of the company’s stock.

Performant Financial stock traded down $0.14 during midday trading on Monday, hitting $2.62. 94,182 shares of the stock were exchanged, compared to its average volume of 338,442. Performant Financial has a fifty-two week low of $1.82 and a fifty-two week high of $5.29. The stock has a market capitalization of $184.14 million, a price-to-earnings ratio of -14.61 and a beta of -0.54. The stock’s 50-day simple moving average is $2.57 and its 200 day simple moving average is $2.68. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.23.

Performant Financial (NASDAQ:PFMTGet Rating) last released its quarterly earnings data on Tuesday, March 15th. The business services provider reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.08. Performant Financial had a negative net margin of 8.27% and a negative return on equity of 14.76%. The firm had revenue of $31.58 million during the quarter. During the same quarter in the previous year, the business posted $0.07 earnings per share. Equities analysts anticipate that Performant Financial will post -0.09 EPS for the current fiscal year.

About Performant Financial (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.