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

A number of other brokerages have also weighed in on PFMT. ValuEngine upgraded shares of Performant Financial from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research lowered shares of Performant Financial from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 30th.

Shares of Performant Financial (PFMT) opened at $1.94 on Friday. Performant Financial has a 52-week low of $1.50 and a 52-week high of $3.00. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market cap of $99.37, a P/E ratio of -3.80 and a beta of 1.08.

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

In other Performant Financial news, CEO Lisa Im sold 40,450 shares of the firm’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 value of $64,720.00. Following the sale, the chief executive officer now owns 1,456,884 shares in the company, valued at $2,331,014.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 33.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp raised its stake 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 valued at $152,000 after acquiring an additional 3,857 shares during the last quarter. Sterling Capital Management LLC raised its stake 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 valued at $846,000 after acquiring an additional 8,060 shares during the last quarter. Finally, 22NW LP raised its stake 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 valued at $2,091,000 after acquiring an additional 28,533 shares during the last quarter. 54.48% of the stock is owned by hedge funds and other institutional investors.

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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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