Performant Financial (NASDAQ:PFMT) Stock Passes Above 200-Day Moving Average of $2.78

Performant Financial Co. (NASDAQ:PFMT) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.78 and traded as high as $2.97. Performant Financial shares last traded at $2.84, with a volume of 269,899 shares changing hands.

Performant Financial Stock Down 0.7 %

The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.21 and a current ratio of 3.21. The company has a market cap of $218.45 million, a P/E ratio of -28.40 and a beta of 0.11. The stock has a 50 day moving average price of $2.80 and a 200 day moving average price of $2.78.

Performant Financial (NASDAQ:PFMT) last issued its quarterly earnings results on Tuesday, March 12th. The business services provider reported $0.02 EPS for the quarter. The firm had revenue of $32.57 million for the quarter. Performant Financial had a negative net margin of 6.61% and a negative return on equity of 9.46%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP acquired a new stake in shares of Performant Financial during the third quarter worth $1,932,000. First Eagle Investment Management LLC lifted its stake in Performant Financial by 31.3% during the third quarter. First Eagle Investment Management LLC now owns 1,955,024 shares of the business services provider’s stock valued at $4,418,000 after buying an additional 465,624 shares in the last quarter. HighMark Wealth Management LLC boosted its holdings in shares of Performant Financial by 20,311.4% in the fourth quarter. HighMark Wealth Management LLC now owns 449,050 shares of the business services provider’s stock worth $1,406,000 after buying an additional 446,850 shares during the period. First Light Asset Management LLC increased its position in shares of Performant Financial by 3.1% in the fourth quarter. First Light Asset Management LLC now owns 9,670,110 shares of the business services provider’s stock worth $30,219,000 after acquiring an additional 291,814 shares in the last quarter. Finally, Parkman Healthcare Partners LLC raised its holdings in shares of Performant Financial by 21.7% during the fourth quarter. Parkman Healthcare Partners LLC now owns 1,580,865 shares of the business services provider’s stock valued at $4,940,000 after acquiring an additional 281,480 shares during the period. Institutional investors and hedge funds own 77.15% of the company’s stock.

About Performant Financial

Performant Financial Corporation provides technology-enabled audit, recovery, and analytics services in the United States. The company identifies improper payments resulting from incorrect coding, procedures that were not medically necessary, incomplete documentation or claims submitted based on outdated fee schedules, and coverage discrepancies; and provides first party call center and other outsourced services.