Mirador Capital Partners LP Acquires New Shares in Performant Healthcare, Inc. $PHLT

Key Points

• Mirador Capital Partners LP acquired 2,424,565 shares of Performant Healthcare, valued at approximately $9.7 million, making it the firm's 17th largest position.
• Shares of Performant Healthcare have recently been downgraded by multiple firms, with a consensus rating of "Hold" and a target price of $7.88.
• 77.15% of Performant Healthcare's stock is owned by institutional investors and hedge funds, indicating strong institutional interest in the company.

Mirador Capital Partners LP bought a new position in Performant Healthcare, Inc. (NASDAQ:PHLT - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,424,565 shares of the company's stock, valued at approximately $9,698,000. Performant Healthcare makes up approximately 1.6% of Mirador Capital Partners LP's investment portfolio, making the stock its 17th biggest position. Mirador Capital Partners LP owned about 3.10% of Performant Healthcare at the end of the most recent quarter.

Separately, Salem Investment Counselors Inc. bought a new stake in shares of Performant Healthcare during the second quarter valued at approximately $248,000. Institutional investors and hedge funds own 77.15% of the company's stock.

Performant Healthcare Price Performance

Shares of NASDAQ PHLT remained flat at $7.70 during trading on Friday. The stock had a trading volume of 2,002,855 shares, compared to its average volume of 932,924. Performant Healthcare, Inc. has a 1 year low of $2.17 and a 1 year high of $7.74. 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 firm has a 50-day moving average of $6.55 and a 200-day moving average of $4.21. The stock has a market cap of $619.39 million, a PE ratio of -770.00 and a beta of 0.49.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Lake Street Capital downgraded Performant Healthcare from a "buy" rating to a "hold" rating and set a $7.75 price objective for the company. in a report on Monday, August 4th. B. Riley downgraded Performant Healthcare from a "strong-buy" rating to a "hold" rating in a report on Monday, August 4th. JMP Securities assumed coverage on Performant Healthcare in a report on Thursday, July 10th. They set a "market outperform" rating and a $8.00 price objective for the company. Citizens Jmp downgraded Performant Healthcare from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Finally, Wall Street Zen downgraded Performant Healthcare from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target 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.