White Pine Capital LLC Acquires Shares of 229,681 Performant Healthcare, Inc. $PHLT

White Pine Capital LLC acquired a new stake in Performant Healthcare, Inc. (NASDAQ:PHLT) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 229,681 shares of the company’s stock, valued at approximately $919,000. White Pine Capital LLC owned 0.29% of Performant Healthcare at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Police & Firemen s Retirement System of New Jersey acquired a new stake in Performant Healthcare in the 2nd quarter valued at $57,000. ProShare Advisors LLC acquired a new stake in shares of Performant Healthcare in the 2nd quarter valued at $58,000. Range Financial Group LLC acquired a new stake in shares of Performant Healthcare in the 2nd quarter valued at $80,000. Intech Investment Management LLC bought a new stake in shares of Performant Healthcare in the 2nd quarter worth about $137,000. Finally, Salem Investment Counselors Inc. acquired a new stake in shares of Performant Healthcare during the 2nd quarter worth about $248,000. Institutional investors own 77.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PHLT. Lake Street Capital lowered shares of Performant Healthcare from a “buy” rating to a “hold” rating and set a $7.75 price target on the stock. in a research report on Monday, August 4th. Citizens Jmp downgraded Performant Healthcare from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Performant Healthcare in a research report on Wednesday, October 8th. Wall Street Zen cut Performant Healthcare from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. Finally, B. Riley lowered Performant Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 4th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Performant Healthcare currently has an average rating of “Hold” and a consensus target price of $7.88.

Performant Healthcare Price Performance

PHLT opened at $7.75 on Friday. 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 stock has a market capitalization of $623.41 million, a P/E ratio of -775.00 and a beta of 0.69. The company’s 50 day simple moving average is $7.73 and its 200-day simple moving average is $5.76. Performant Healthcare, Inc. has a one year low of $2.17 and a one year high of $7.76.

Performant Healthcare (NASDAQ:PHLT) last posted its quarterly earnings data on Tuesday, March 15th. The company reported $0.08 earnings per share (EPS) 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%. Sell-side analysts anticipate that Performant Healthcare, Inc. will post -0.13 earnings per share for the current fiscal year.

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.