Performant Financial (NASDAQ:PFMT) Downgraded to Sell at StockNews.com

StockNews.com lowered shares of Performant Financial (NASDAQ:PFMTGet Rating) from a hold rating to a sell rating in a research report released on Friday.

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

Performant Financial Price Performance

Shares of PFMT opened at $2.09 on Friday. The firm has a market cap of $154.28 million, a PE ratio of -16.08 and a beta of -0.32. 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 firm has a fifty day simple moving average of $2.50 and a two-hundred day simple moving average of $2.47. Performant Financial has a 1-year low of $1.85 and a 1-year high of $5.08.

Institutional Investors Weigh In On Performant Financial

Hedge funds have recently modified their holdings of the business. Clarus Group Inc. bought a new stake in shares of Performant Financial during the 2nd quarter valued at $50,000. Virtu Financial LLC bought a new stake in shares of Performant Financial during the 1st quarter valued at $57,000. Bank of Montreal Can bought a new position in Performant Financial in the 1st quarter worth $61,000. Shay Capital LLC boosted its holdings in Performant Financial by 59.0% in the 1st quarter. Shay Capital LLC now owns 40,033 shares of the business services provider’s stock worth $125,000 after buying an additional 14,853 shares during the period. Finally, Potomac Capital Management Inc. bought a new position in Performant Financial in the 1st quarter worth $156,000. 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.

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