Performant Financial (NASDAQ:PFMT – Get Rating) was upgraded by StockNews.com from a "sell" rating to a "hold" rating in a research report issued on Tuesday.
Separately, TheStreet downgraded shares of Performant Financial from a "c-" rating to a "d+" rating in a report on Tuesday, August 16th.
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Performant Financial Stock Performance
Shares of PFMT stock traded down $0.13 during trading on Tuesday, hitting $2.04. The company's stock had a trading volume of 133,517 shares, compared to its average volume of 210,029. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.22. The company has a market cap of $150.59 million, a PE ratio of -15.69 and a beta of -0.24. Performant Financial has a 52 week low of $1.85 and a 52 week high of $4.74. The business has a fifty day moving average of $2.42 and a 200-day moving average of $2.45.
Institutional Investors Weigh In On Performant Financial
Institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its holdings in Performant Financial by 9.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,524,629 shares of the business services provider's stock worth $3,674,000 after purchasing an additional 127,500 shares in the last quarter. Cooper Creek Partners Management LLC lifted its holdings in shares of Performant Financial by 98.7% in the fourth quarter. Cooper Creek Partners Management LLC now owns 2,565,560 shares of the business services provider's stock worth $6,183,000 after buying an additional 1,274,684 shares in the last quarter. Kent Lake Capital LLC bought a new position in shares of Performant Financial in the fourth quarter valued at approximately $2,699,000. Trellus Management Company LLC purchased a new position in Performant Financial during the first quarter valued at approximately $266,000. Finally, Potomac Capital Management Inc. bought a new stake in Performant Financial during the 1st quarter worth approximately $156,000. Hedge funds and other institutional investors own 61.34% of the company's stock.
About Performant Financial
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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
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