StockNews.com upgraded shares of Performant Financial (NASDAQ:PFMT – Get Rating) from a sell rating to a hold rating in a report issued on Thursday morning.

Performant Financial Stock Performance

PFMT stock opened at $2.17 on Thursday. The company has a market cap of $160.19 million, a P/E ratio of -16.69 and a beta of -0.32. Performant Financial has a 1 year low of $1.85 and a 1 year high of $5.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.83 and a quick ratio of 3.83. The stock's fifty day moving average price is $2.56 and its 200-day moving average price is $2.50.

Hedge Funds Weigh In On Performant Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new position in Performant Financial during the first quarter valued at $57,000. Clarus Group Inc. purchased a new position in Performant Financial during the second quarter valued at $50,000. Bank of Montreal Can purchased a new position in Performant Financial during the first quarter valued at $61,000. Shay Capital LLC lifted its position in 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 purchasing an additional 14,853 shares in the last quarter. Finally, Potomac Capital Management Inc. purchased a new position in Performant Financial during the first quarter valued at $156,000. 80.19% of the stock is currently owned by hedge funds and other institutional investors.

Performant Financial Company Profile

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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