95,957 Shares in Performant Healthcare, Inc. $PHLT Acquired by CWC Advisors LLC.

Key Points

• CWC Advisors LLC has acquired 95,957 shares of Performant Healthcare, Inc., representing approximately $384,000 investment, making it own 0.12% of the company.
• In the second quarter, several other institutional investors also increased their stakes in Performant Healthcare, contributing to 77.15% of the stock being held by hedge funds and institutional investors.
• Analysts have recently downgraded Performant Healthcare from "strong-buy" to "hold," with an average target price of $7.88.

CWC Advisors LLC. acquired a new position in Performant Healthcare, Inc. (NASDAQ:PHLT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 95,957 shares of the company's stock, valued at approximately $384,000. CWC Advisors LLC. owned approximately 0.12% of Performant Healthcare at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Range Financial Group LLC bought a new position in Performant Healthcare in the 2nd quarter worth $80,000. Salem Investment Counselors Inc. bought a new position in Performant Healthcare in the 2nd quarter worth $248,000. Finally, Mirador Capital Partners LP bought a new position in Performant Healthcare in the 2nd quarter worth $9,698,000. 77.15% of the stock is currently owned by institutional investors.

Performant Healthcare Price Performance

Shares of PHLT remained flat at $7.70 on Monday. 763,183 shares of the company were exchanged, compared to its average volume of 526,774. 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 capitalization of $619.39 million, a PE ratio of -770.00 and a beta of 0.48. The company's 50-day moving average price is $6.55 and its 200 day moving average price is $4.22. Performant Healthcare, Inc. has a one year low of $2.17 and a one year high of $7.74.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wall Street Zen lowered shares of Performant Healthcare from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. Citizens Jmp lowered shares of Performant Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. B. Riley lowered shares of Performant Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 4th. JMP Securities began coverage on shares of Performant Healthcare in a research note on Thursday, July 10th. They issued a "market outperform" rating and a $8.00 price target for the company. Finally, Lake Street Capital lowered shares of Performant Healthcare from a "buy" rating to a "hold" rating and set a $7.75 price target for the company. in a research note on Monday, August 4th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $7.88.

Performant Healthcare 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.