TheStreet downgraded shares of Performant Financial (NASDAQ:PFMT – Get Rating) from a c- rating to a d+ rating in a research note published on Tuesday morning, TheStreetRatingsTable reports.
Separately, StockNews.com raised shares of Performant Financial from a sell rating to a hold rating in a report on Thursday.
Get Performant Financial alerts:Performant Financial Stock Down 2.7 %
Shares of NASDAQ:PFMT opened at $2.18 on Tuesday. Performant Financial has a 12 month low of $1.85 and a 12 month high of $5.08. The company's 50-day moving average price is $2.57 and its two-hundred day moving average price is $2.50. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.22. The firm has a market cap of $160.93 million, a P/E ratio of -16.77 and a beta of -0.32.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in PFMT. Prescott Group Capital Management L.L.C. lifted its position in Performant Financial by 10.5% during the 1st quarter. Prescott Group Capital Management L.L.C. now owns 15,454,704 shares of the business services provider's stock valued at $48,064,000 after purchasing an additional 1,471,659 shares during the period. Cooper Creek Partners Management LLC grew its stake in shares of Performant Financial by 98.7% during the 4th quarter. Cooper Creek Partners Management LLC now owns 2,565,560 shares of the business services provider's stock worth $6,183,000 after acquiring 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 $2,699,000. Essex Investment Management Co. LLC bought a new position in shares of Performant Financial in the second quarter valued at $1,225,000. Finally, Bank of Montreal Can lifted its holdings in Performant Financial by 2,004.4% during the 2nd quarter. Bank of Montreal Can now owns 408,224 shares of the business services provider's stock valued at $1,106,000 after purchasing an additional 388,825 shares during the last quarter. 80.19% of the stock is currently owned by institutional investors and hedge funds.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.
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