Performant Financial (PFMT) Announces Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Performant Financial (NASDAQ:PFMT) announced its quarterly earnings data on Friday. The business services provider reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.07), Morningstar.com reports. Performant Financial had a negative net margin of 1.63% and a negative return on equity of 16.92%. The firm had revenue of $27.58 million for the quarter, compared to analysts’ expectations of $31.80 million. Performant Financial updated its FY 2018 guidance to EPS.

PFMT stock traded down $0.02 during trading on Friday, hitting $1.53. 19,045 shares of the stock traded hands, compared to its average volume of 15,335. Performant Financial has a 1 year low of $1.50 and a 1 year high of $3.52. The company has a market capitalization of $84.15 million, a price-to-earnings ratio of -8.05 and a beta of 1.30. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.32 and a current ratio of 2.32.

Separately, TheStreet raised shares of Performant Financial from a “d+” rating to a “c-” rating in a research report on Tuesday, September 4th.

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its position in Performant Financial by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,179,111 shares of the business services provider’s stock valued at $2,535,000 after purchasing an additional 32,449 shares during the last quarter. Renaissance Technologies LLC grew its position in Performant Financial by 4.1% during the 2nd quarter. Renaissance Technologies LLC now owns 927,400 shares of the business services provider’s stock valued at $1,994,000 after purchasing an additional 36,100 shares during the last quarter. Finally, 22NW LP grew its position in Performant Financial by 237.1% during the 2nd quarter. 22NW LP now owns 1,070,284 shares of the business services provider’s stock valued at $2,301,000 after purchasing an additional 752,754 shares during the last quarter. 58.25% of the stock is currently owned by institutional investors.

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Performant Financial Company Profile

Performant Financial Corporation provides technology-enabled audit, recovery, customer care, and related analytics services in the United States. The company offers recovery services primarily to the government-supported student loan industry, serving guaranty agencies, the Department of Education, and private financial institutions; and restructures and recovers student loans issued directly by banks to students outside of federal lending programs.

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Earnings History for Performant Financial (NASDAQ:PFMT)

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