Performant Financial (NASDAQ:PFMT – Get Rating) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued on Thursday.

Performant Financial Trading Down 2.7 %

PFMT opened at $2.18 on Thursday. 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 company's 50 day simple moving average is $2.57 and its two-hundred day simple moving average is $2.50. Performant Financial has a 1-year low of $1.85 and a 1-year high of $5.08. The firm has a market capitalization of $160.92 million, a price-to-earnings ratio of -16.77 and a beta of -0.32.

Institutional Trading of Performant Financial

Institutional investors have recently made changes to their positions in the company. Clarus Group Inc. purchased a new stake in shares of Performant Financial during the 2nd quarter valued at approximately $50,000. Virtu Financial LLC purchased a new stake in shares of Performant Financial during the 1st quarter valued at approximately $57,000. Bank of Montreal Can purchased a new stake in shares of Performant Financial during the 1st quarter valued at approximately $61,000. Shay Capital LLC raised its position in shares of Performant Financial by 59.0% during the 1st quarter. Shay Capital LLC now owns 40,033 shares of the business services provider's stock valued at $125,000 after buying an additional 14,853 shares during the period. Finally, Potomac Capital Management Inc. purchased a new stake in shares of Performant Financial during the 1st quarter valued at approximately $156,000. Hedge funds and other institutional investors own 80.19% of the company's stock.

About Performant Financial

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.

Further Reading

• Get a free copy of the StockNews.com research report on Performant Financial (PFMT)
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