Performant Financial (NASDAQ:PFMT) Shares Pass Above 200 Da... - Jonathan Cartu - Moving & Transportation Services
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Performant Financial (NASDAQ:PFMT) Shares Pass Above 200 Da…

Performant Financial (NASDAQ:PFMT) Shares Pass Above 200 Da…


Shares of Performant Financial Corp (NASDAQ:PFMT) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.55 and traded as high as $1.17. Performant Financial shares last traded at $1.17, with a volume of 231 shares.

A number of equities analysts have recently issued reports on PFMT shares. Zacks Investment Research lowered shares of Performant Financial from a “hold” rating to a “sell” rating in a research report on Friday, August 23rd. ValuEngine lowered shares of Performant Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, William Blair reiterated a “market perform” rating on shares of Performant Financial in a research report on Monday, August 19th.

The company’s fifty day moving average is $1.17 and its two-hundred day moving average is $1.54. The firm has a market capitalization of $59.02 million, a price-to-earnings ratio of -3.44 and a beta of 0.22. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.90.

Performant Financial (NASDAQ:PFMT) last announced its quarterly earnings data on Tuesday, August 13th. The business services provider reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.02). Performant Financial had a negative net margin of 20.11% and a negative return on equity of 32.75%. The business had revenue of $35.83 million during the quarter, compared to analyst estimates of $36.20 million. On average, equities research analysts expect that Performant Financial Corp will post -0.41 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Prescott Group Capital Management L.L.C. lifted its holdings in Performant Financial by 41.4% in the second quarter. Prescott Group Capital Management L.L.C. now owns 7,348,179 shares of the business services provider’s stock valued at $7,716,000 after buying an additional 2,150,111 shares during the period. Renaissance Technologies LLC lifted its holdings in Performant Financial by 1.2% in the second quarter. Renaissance Technologies LLC now owns 944,839 shares of the business services provider’s stock valued at $992,000 after buying an additional 10,900 shares during the period. Vanguard Group Inc. lifted its holdings in Performant Financial by 92.3% in the second quarter. Vanguard Group Inc. now owns 895,851 shares of the business services provider’s stock valued at $941,000 after buying an additional 429,909 shares during the period. Mirador Capital Partners LP lifted its holdings in Performant Financial by 15.5% in the second quarter. Mirador Capital Partners LP now owns 192,445 shares of the business services provider’s stock valued at $202,000 after buying an additional 25,762 shares during the period. Finally, BlackRock Inc. lifted its holdings in Performant Financial by 5.8% in the second quarter. BlackRock Inc. now owns 174,050 shares of the business services provider’s stock valued at $183,000 after buying an additional 9,537 shares during the period. Institutional investors and hedge funds own 56.47% of the company’s stock.

Performant Financial Company Profile (NASDAQ:PFMT)

Performant Financial Corporation provides technology-enabled audit, recovery, outsource customer, and related analytics services in the United States. The company offers recovery services primarily to the government-supported student loan industry serving guaranty agencies, private financial institutions, and the Department of Education; and restructures and recovers student loans issued directly by banks to students outside of federal lending programs.

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