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

Performant Healthcare, Inc. (NASDAQ:PHLT) has been given a consensus rating of “Hold” by the six ratings firms that are presently covering the company, Marketbeat.com reports. One 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 objective among brokers that have issued ratings on the stock in the last year is $7.8750.

A number of research analysts have commented on PHLT shares. Lake Street Capital lowered 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 reaffirmed a “sell (d-)” rating on shares of Performant Healthcare in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Performant Healthcare from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. B. Riley lowered shares of Performant Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 4th. Finally, Craig Hallum downgraded shares of Performant Healthcare from a “strong-buy” rating to a “hold” rating and set a $7.75 price target for the company. in a research report on Monday, August 4th.

Performant Healthcare Stock Up 0.3%

Performant Healthcare stock opened at $7.75 on Friday. The company’s 50-day moving average price is $7.73 and its two-hundred day moving average price is $5.76. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.10. The stock has a market cap of $623.41 million, a P/E ratio of -775.00 and a beta of 0.69. Performant Healthcare has a twelve month low of $2.17 and a twelve month high of $7.76.

Performant Healthcare (NASDAQ:PHLT) last posted its earnings results on Tuesday, March 15th. The company reported $0.08 EPS for the quarter. The company 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%. As a group, analysts expect that Performant Healthcare will post -0.13 EPS for the current year.

Institutional Trading of Performant Healthcare

Institutional investors have recently modified their holdings of the stock. Prescott Group Capital Management L.L.C. bought a new position in shares of Performant Healthcare in the second quarter worth $63,173,000. First Light Asset Management LLC acquired a new stake in Performant Healthcare during the second quarter worth about $52,682,000. Topline Capital Management LLC bought a new position in Performant Healthcare in the 2nd quarter valued at about $21,850,000. Alliancebernstein L.P. raised its position in shares of Performant Healthcare by 36,837.9% in the 3rd quarter. Alliancebernstein L.P. now owns 3,981,906 shares of the company’s stock valued at $30,780,000 after buying an additional 3,971,126 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Performant Healthcare by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,976,003 shares of the company’s stock worth $30,735,000 after acquiring an additional 55,079 shares during the period. 77.15% of the stock is currently owned by institutional investors.

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.