Performant Healthcare, Inc. (NASDAQ:PHLT) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Performant Healthcare, Inc. (NASDAQ:PHLT) has received a consensus recommendation of "Hold" from five research firms, with one firm rating it as a buy.
• The average one-year price target among brokerages for Performant Healthcare is $7.8750, reflecting a cautious outlook despite previous strong-buy ratings being downgraded to hold.
• Institutional investors currently own 77.15% of the company, with several firms buying new stakes valued between $28,000 and $58,000 in the second quarter.

Performant Healthcare, Inc. (NASDAQ:PHLT - Get Free Report) has received a consensus recommendation of "Hold" from the five research firms that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $7.8750.

Several research analysts recently weighed in on PHLT shares. Citizens Jmp cut shares of Performant Healthcare from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Wall Street Zen cut shares of Performant Healthcare from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. JMP Securities started coverage on shares of Performant Healthcare in a report on Thursday, July 10th. They set a "market outperform" rating and a $8.00 price target on the stock. B. Riley cut shares of Performant Healthcare from a "strong-buy" rating to a "hold" rating in a report on Monday, August 4th. Finally, Craig Hallum cut shares of Performant Healthcare from a "strong-buy" rating to a "hold" rating and set a $7.75 target price on the stock. in a research note on Monday, August 4th.

Institutional Trading of Performant Healthcare

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets bought a new stake in shares of Performant Healthcare in the second quarter valued at approximately $28,000. Legal & General Group Plc bought a new stake in shares of Performant Healthcare in the second quarter valued at approximately $30,000. WINTON GROUP Ltd bought a new stake in shares of Performant Healthcare in the second quarter valued at approximately $52,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Performant Healthcare in the second quarter valued at approximately $57,000. Finally, ProShare Advisors LLC bought a new stake in shares of Performant Healthcare in the second quarter valued at approximately $58,000. Institutional investors own 77.15% of the company's stock.

Performant Healthcare Trading Up 0.3%

NASDAQ:PHLT opened at $7.71 on Thursday. 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 $6.77 and a 200-day moving average of $4.30. The company has a market cap of $620.19 million, a PE ratio of -771.00 and a beta of 0.49. Performant Healthcare has a one year low of $2.17 and a one year high of $7.74.

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.

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