Performant Healthcare, Inc. (NASDAQ:PHLT) Receives Consensus Recommendation of “Hold” from Analysts

Performant Healthcare, Inc. (NASDAQ:PHLT) has been assigned an average recommendation of “Hold” from the six research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $7.8750.

Several research firms have commented on PHLT. Craig Hallum lowered shares of Performant Healthcare from a “strong-buy” rating to a “hold” rating and set a $7.75 price target on the stock. in a report on Monday, August 4th. Citizens Jmp downgraded Performant Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Performant Healthcare in a research report on Wednesday, October 8th. Wall Street Zen downgraded Performant Healthcare from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. Finally, B. Riley cut shares of Performant Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 4th.

Performant Healthcare Price Performance

Shares of NASDAQ:PHLT opened at $7.75 on Friday. Performant Healthcare has a twelve month low of $2.17 and a twelve month high of $7.76. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.10. The company has a market cap of $623.41 million, a PE ratio of -775.00 and a beta of 0.69. The company’s 50 day moving average is $7.73 and its 200 day moving average is $5.74.

Performant Healthcare (NASDAQ:PHLT) last released its quarterly earnings data on Tuesday, March 15th. The company reported $0.08 EPS for the quarter. Performant Healthcare had a negative net margin of 0.64% and a negative return on equity of 0.04%. The business had revenue of $40.04 million for the quarter. On average, sell-side analysts forecast that Performant Healthcare will post -0.13 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. acquired a new position in shares of Performant Healthcare in the second quarter worth about $248,000. Range Financial Group LLC purchased a new position in shares of Performant Healthcare in the 2nd quarter valued at about $80,000. Mirador Capital Partners LP acquired a new position in Performant Healthcare in the 2nd quarter worth about $9,698,000. CWC Advisors LLC. purchased a new position in Performant Healthcare during the second quarter worth approximately $384,000. Finally, HighMark Wealth Management LLC acquired a new stake in Performant Healthcare in the second quarter valued at approximately $3,250,000. Hedge funds and other institutional investors own 77.15% of the company’s stock.

About Performant Healthcare

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.