Performing Financial (NASDAQ:PFMT) Downgraded by to Sell

Financial Performance (NASDAQ:PFMT – Get a Rating) was downgraded by from a “hold” rating to a “sell” rating in a report released Wednesday.

Separately, TheStreet downgraded Performant Financial from a “c-” rating to a “d+” rating in a Tuesday, August 16 research note.

Strong financial price performance

NASDAQ:PFMT shares were up $0.11 midday Wednesday, hitting $1.92. The company’s shares had a trading volume of 117,347 shares, compared to an average trading volume of 207,110. Performant Financial has a fifty-two week low of $1.72 and a fifty-two week high of 4.19 $. The company has a market capitalization of $141.73 million, a P/E ratio of -14.77 and a beta of -0.24. The company has a debt ratio of 0.22, a current ratio of 3.83 and a quick ratio of 3.83. The company’s 50-day simple moving average is $2.26 and its 200-day simple moving average is $2.43.

Hedge funds weigh on financial performance

Several institutional investors have recently changed their holdings in PFMT. Clarus Group Inc. acquired a new position in shares of Performant Financial during Q2 worth approximately $50,000. Virtu Financial LLC acquired a new stock position in Performant Financial during Q1 worth approximately $57,000. Bank of Montreal Can acquired a new position in shares of Performant Financial during Q1 worth approximately $61,000. Shay Capital LLC increased its position in shares of Performant Financial by 59.0% during the 1st quarter. Shay Capital LLC now owns 40,033 shares of the business services provider worth $125,000 after purchasing an additional 14,853 shares during the period. Finally, Potomac Capital Management Inc. bought a new stock position in Performant Financial during Q1 worth approximately $156,000. 61.34% of the shares are currently held by institutional investors and hedge funds.

About Performant Financial

(Get a rating)

Performant Financial Corporation provides technology-based audit, recovery, client outsourcing and related analysis services in the United States. The company provides recovery services to clients of the Federal Guaranteed Student Loan Program and private institutions; identifies and tracks borrowers in default among its clients’ student loan portfolios; rehabilitates and collects delinquent student loans; provides tax recovery services to federal, state, and municipal agencies; collects public debt from various federal agencies; and offers audit and collection services to identify improper healthcare payments for public and private healthcare customers.

Further reading

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Before you consider Performant Financial, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Performant Financial was not on the list.

Although Performant Financial currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

Comments are closed.