Performant Financial Co. (NASDAQ:PFMT – Get Rating) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.42 and traded as high as $2.64. Performant Financial shares last traded at $2.63, with a volume of 121,310 shares changing hands.
A number of equities research analysts recently commented on PFMT shares. TheStreet upgraded Performant Financial from a “d+” rating to a “c” rating in a report on Tuesday, April 5th. StockNews.com cut Performant Financial from a “hold” rating to a “sell” rating in a research note on Thursday, June 23rd. Colliers Securities reissued a “buy” rating on shares of Performant Financial in a research note on Tuesday, March 22nd. Finally, Lake Street Capital began coverage on Performant Financial in a research note on Monday, April 11th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.50.
The company has a debt-to-equity ratio of 0.22, a current ratio of 4.17 and a quick ratio of 4.17. The company has a market capitalization of $196.03 million, a price-to-earnings ratio of -22.33 and a beta of -0.29. The firm has a 50-day moving average price of $2.39 and a two-hundred day moving average price of $2.42.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PFMT. Geode Capital Management LLC raised its stake in Performant Financial by 2.6% in the third quarter. Geode Capital Management LLC now owns 341,142 shares of the business services provider’s stock valued at $1,350,000 after buying an additional 8,634 shares during the period. Schonfeld Strategic Advisors LLC raised its stake in Performant Financial by 13.0% in the third quarter. Schonfeld Strategic Advisors LLC now owns 86,300 shares of the business services provider’s stock valued at $342,000 after buying an additional 9,900 shares during the period. Brown Advisory Inc. bought a new stake in Performant Financial in the fourth quarter valued at approximately $40,000. Mirador Capital Partners LP raised its stake in Performant Financial by 60.1% in the fourth quarter. Mirador Capital Partners LP now owns 1,001,885 shares of the business services provider’s stock valued at $2,415,000 after buying an additional 375,929 shares during the period. Finally, First Eagle Investment Management LLC raised its stake in Performant Financial by 256.2% in the fourth quarter. First Eagle Investment Management LLC now owns 179,901 shares of the business services provider’s stock valued at $434,000 after buying an additional 129,401 shares during the period. Institutional investors and hedge funds own 80.19% of the company’s stock.
Performant Financial Company Profile (NASDAQ:PFMT)
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.
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