Performant Financial (NASDAQ:PFMT) Announces Quarterly Earnings Results

Performant Financial (NASDAQ:PFMT – Get Rating) released its quarterly earnings data on Tuesday. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, Yahoo Finance reports. Performant Financial had a negative return on equity of 10.59% and a negative net margin of 7.94%. The business had revenue of $29.24 million for the quarter.

Performant Financial Stock Performance

Shares of Performant Financial stock traded down $0.03 during trading on Thursday, hitting $2.91. 48,820 shares of the stock were exchanged, compared to its average volume of 213,338. The stock’s fifty day moving average is $3.32 and its 200 day moving average is $2.66. The stock has a market cap of $216.15 million, a PE ratio of -24.50 and a beta of -0.39. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.22 and a current ratio of 4.22. Performant Financial has a 12 month low of $1.72 and a 12 month high of $3.97.

Hedge Funds Weigh In On Performant Financial

Several institutional investors have recently modified their holdings of the company. EAM Investors LLC bought a new position in Performant Financial in the 4th quarter valued at about $1,533,000. Millennium Management LLC bought a new position in Performant Financial in the 4th quarter valued at about $780,000. Morgan Stanley bought a new position in Performant Financial in the 4th quarter valued at about $585,000. First Light Asset Management LLC grew its position in Performant Financial by 3.3% in the 1st quarter. First Light Asset Management LLC now owns 5,048,023 shares of the business services provider’s stock valued at $15,699,000 after buying an additional 161,850 shares in the last quarter. Finally, Savant Capital LLC bought a new position in Performant Financial in the 4th quarter valued at about $501,000. Institutional investors own 64.79% of the company’s stock.

Analyst Ratings Changes

PFMT has been the topic of a number of recent research reports. StockNews.com began coverage on shares of Performant Financial in a research report on Thursday. They set a “hold” rating on the stock. TheStreet raised shares of Performant Financial from a “d+” rating to a “c-” rating in a report on Wednesday, December 28th. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $8.00 price target on shares of Performant Financial in a report on Tuesday, December 20th.

About Performant Financial

(Get Rating)

Performant Financial Corp. 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.