Performant Financial (NASDAQ:PFMT) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of Performant Financial (NASDAQ:PFMTGet Rating) from a sell rating to a hold rating in a research report sent to investors on Monday morning.

Separately, TheStreet downgraded shares of Performant Financial from a c- rating to a d+ rating in a research note on Tuesday, August 16th.

Performant Financial Stock Performance

Shares of NASDAQ:PFMT opened at $2.44 on Monday. The firm has a market cap of $181.24 million, a PE ratio of -20.33 and a beta of -0.04. The firm’s 50 day simple moving average is $2.04 and its 200-day simple moving average is $2.29. Performant Financial has a one year low of $1.72 and a one year high of $3.41. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.22 and a current ratio of 4.22.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PFMT. Mirador Capital Partners LP raised its holdings in shares of Performant Financial by 32.5% during the first quarter. Mirador Capital Partners LP now owns 1,327,930 shares of the business services provider’s stock worth $4,130,000 after purchasing an additional 326,045 shares during the last quarter. Prescott Group Capital Management L.L.C. increased its holdings in Performant Financial by 10.5% in the first 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 buying an additional 1,471,659 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Performant Financial by 113.1% in the first quarter. First Eagle Investment Management LLC now owns 383,453 shares of the business services provider’s stock valued at $1,193,000 after buying an additional 203,552 shares in the last quarter. Bank of Montreal Can purchased a new position in Performant Financial in the first quarter valued at $61,000. Finally, Dimensional Fund Advisors LP increased its holdings in Performant Financial by 4.6% in the first quarter. Dimensional Fund Advisors LP now owns 255,499 shares of the business services provider’s stock valued at $795,000 after buying an additional 11,317 shares in the last quarter. Hedge funds and other institutional investors own 61.34% of the company’s stock.

About Performant Financial

(Get Rating)

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.

See Also

Receive News & Ratings for Performant Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Performant Financial and related companies with MarketBeat.com's FREE daily email newsletter.