Performant Financial (PFMT) Issues Quarterly Earnings Results

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Performant Financial (NASDAQ:PFMT) issued its earnings results on Friday. The business services provider reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.07), Morningstar.com reports. The company had revenue of $27.58 million during the quarter, compared to analysts’ expectations of $31.80 million. Performant Financial had a negative net margin of 1.63% and a negative return on equity of 16.92%. Performant Financial updated its FY 2018 guidance to EPS.

Shares of Performant Financial stock traded down $0.02 during trading hours on Friday, hitting $1.53. The company’s stock had a trading volume of 19,045 shares, compared to its average volume of 15,335. Performant Financial has a twelve month low of $1.50 and a twelve month high of $3.52. The firm has a market cap of $84.15 million, a PE ratio of -8.05 and a beta of 1.30. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.44.

Separately, TheStreet upgraded Performant Financial from a “d+” rating to a “c-” rating in a report on Tuesday, September 4th.

Several institutional investors have recently made changes to their positions in the company. 22NW LP lifted its stake in shares of Performant Financial by 189.5% in the 3rd quarter. 22NW LP now owns 3,098,991 shares of the business services provider’s stock valued at $6,570,000 after purchasing an additional 2,028,707 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Performant Financial by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,179,111 shares of the business services provider’s stock valued at $2,535,000 after purchasing an additional 32,449 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Performant Financial by 4.1% in the 2nd quarter. Renaissance Technologies LLC now owns 927,400 shares of the business services provider’s stock valued at $1,994,000 after purchasing an additional 36,100 shares during the last quarter. 58.25% of the stock is currently owned by institutional investors and hedge funds.

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Performant Financial Company Profile

Performant Financial Corporation provides technology-enabled audit, recovery, customer care, and related analytics services in the United States. The company offers recovery services primarily to the government-supported student loan industry, serving guaranty agencies, the Department of Education, and private financial institutions; and restructures and recovers student loans issued directly by banks to students outside of federal lending programs.

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Earnings History for Performant Financial (NASDAQ:PFMT)

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