Hillsdale Investment Management Inc. Buys New Holdings in Performant Healthcare, Inc. $PHLT

Hillsdale Investment Management Inc. purchased a new position in Performant Healthcare, Inc. (NASDAQ:PHLT) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 107,900 shares of the company’s stock, valued at approximately $432,000. Hillsdale Investment Management Inc. owned 0.14% of Performant Healthcare at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PHLT. Mirador Capital Partners LP purchased a new position in shares of Performant Healthcare in the second quarter worth $9,698,000. Bailard Inc. purchased a new position in Performant Healthcare during the second quarter valued at $301,000. CWC Advisors LLC. bought a new stake in Performant Healthcare in the 2nd quarter valued at $384,000. Salem Investment Counselors Inc. purchased a new stake in Performant Healthcare in the 2nd quarter worth $248,000. Finally, First Eagle Investment Management LLC bought a new position in shares of Performant Healthcare during the 2nd quarter valued at about $10,817,000. 77.15% of the stock is owned by hedge funds and other institutional investors.

Performant Healthcare Price Performance

NASDAQ:PHLT opened at $7.75 on Monday. The firm has a market capitalization of $623.41 million, a price-to-earnings ratio of -775.00 and a beta of 0.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.64 and a quick ratio of 2.64. The business has a 50 day simple moving average of $7.73 and a 200-day simple moving average of $5.85. Performant Healthcare, Inc. has a 1 year low of $2.17 and a 1 year high of $7.76.

Performant Healthcare (NASDAQ:PHLT) last released its earnings results on Tuesday, March 15th. The company reported $0.08 earnings per share for the quarter. The firm had revenue of $40.04 million for the quarter. Performant Healthcare had a negative return on equity of 0.04% and a negative net margin of 0.64%. Equities analysts forecast that Performant Healthcare, Inc. will post -0.13 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Craig Hallum cut Performant Healthcare from a “strong-buy” rating to a “hold” rating and set a $7.75 target price on the stock. in a report on Monday, August 4th. B. Riley cut Performant Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday, August 4th. Lake Street Capital cut Performant Healthcare from a “buy” rating to a “hold” rating and set a $7.75 price objective on the stock. in a report on Monday, August 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Performant Healthcare in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Performant Healthcare from a “buy” rating to a “hold” rating in a research note on Sunday, August 3rd. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.88.

Performant Healthcare Company Profile

Performant Healthcare, Inc engages in the provision of technology-enabled audit, recovery, customer care, and related analytics services. Its services help identify improper payments, and in some markets, restructure and recover delinquent or defaulted assets and improper payments for both government and private clients.