Performant Financial (NASDAQ:PFMT) Issues Quarterly Earnings Results

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

Performant Financial Stock Performance

Shares of Performant Financial stock traded down $0.06 during midday trading on Thursday, hitting $2.88. The company had a trading volume of 37,331 shares, compared to its average volume of 213,112. The business’s 50 day simple moving average is $3.32 and its two-hundred day simple moving average is $2.66. The stock has a market cap of $213.93 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 current ratio of 4.22 and a quick ratio of 4.22. Performant Financial has a 1-year low of $1.72 and a 1-year high of $3.97.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. StockNews.com assumed coverage on Performant Financial in a report on Thursday. They set a “hold” rating on the stock. TheStreet upgraded Performant Financial from a “d+” rating to a “c-” rating in a report on Wednesday, December 28th. Finally, Lake Street Capital reiterated a “buy” rating and set a $8.00 price target on shares of Performant Financial in a report on Tuesday, December 20th.

Institutional Investors Weigh In On Performant Financial

Institutional investors have recently bought and sold shares of the business. Savant Capital LLC acquired a new stake in Performant Financial during the fourth quarter worth $501,000. State Street Corp boosted its stake in Performant Financial by 9.9% during the first quarter. State Street Corp now owns 148,208 shares of the business services provider’s stock worth $461,000 after buying an additional 13,300 shares in the last quarter. Captrust Financial Advisors acquired a new stake in Performant Financial during the fourth quarter worth $271,000. Man Group plc bought a new position in shares of Performant Financial during the fourth quarter valued at $138,000. Finally, Shay Capital LLC lifted its holdings in shares of Performant Financial by 59.0% during the first quarter. Shay Capital LLC now owns 40,033 shares of the business services provider’s stock valued at $125,000 after acquiring an additional 14,853 shares during the period. Institutional investors and hedge funds own 64.79% of the company’s stock.

About Performant Financial

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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.