Performant Financial (PFMT) Stock Rating Upgraded by Compass Point

Performant Financial (NASDAQ:PFMT) was upgraded by analysts at Compass Point from a “neutral” rating to a “buy” rating in a report released on Friday.

Several other research firms also recently issued reports on PFMT. ValuEngine upgraded shares of Performant Financial from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research downgraded shares of Performant Financial from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 30th.

Shares of Performant Financial (PFMT) opened at $2.31 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.49. Performant Financial has a 52 week low of $1.50 and a 52 week high of $3.52.

Performant Financial (NASDAQ:PFMT) last released its quarterly earnings data on Tuesday, November 7th. The business services provider reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.08). Performant Financial had a negative return on equity of 15.46% and a negative net margin of 19.27%. The business had revenue of $29.70 million for the quarter, compared to analysts’ expectations of $31.45 million. During the same quarter in the prior year, the firm earned $0.02 earnings per share. Performant Financial’s quarterly revenue was down 4.8% compared to the same quarter last year. research analysts expect that Performant Financial will post -0.25 earnings per share for the current fiscal year.

In other Performant Financial news, CEO Lisa Im sold 40,450 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $1.60, for a total transaction of $64,720.00. Following the completion of the sale, the chief executive officer now directly owns 1,456,884 shares in the company, valued at $2,331,014.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 33.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PFMT. Northern Trust Corp lifted its position in shares of Performant Financial by 5.6% during the second quarter. Northern Trust Corp now owns 72,716 shares of the business services provider’s stock worth $152,000 after purchasing an additional 3,857 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of Performant Financial by 2.0% during the second quarter. Sterling Capital Management LLC now owns 404,570 shares of the business services provider’s stock worth $846,000 after purchasing an additional 8,060 shares in the last quarter. Finally, 22NW LP lifted its position in shares of Performant Financial by 2.5% during the third quarter. 22NW LP now owns 1,149,038 shares of the business services provider’s stock worth $2,091,000 after purchasing an additional 28,533 shares in the last quarter. 54.48% of the stock is currently owned by institutional investors and hedge funds.

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About Performant Financial

Performant Financial Corporation (Performant) provides technology-enabled recovery and related analytics services in the United States. The Company’s services identify and recover delinquent or defaulted assets and improper payments for both government and private clients in a range of markets. The Company provides its services on an outsourced basis where the Company handles many or all aspects of its clients’ recovery processes.

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