Performant Healthcare, Inc. (NASDAQ:PHLT) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Performant Healthcare, Inc. has received a consensus recommendation of "Hold" from five analysts, with four analysts recommending hold and one suggesting a buy.
• The average 12-month price target for Performant Healthcare's stock is approximately $7.88, with individual targets ranging from $7.75 to $8.00.
• In related insider trading news, Director Lisa Im sold 180,867 shares at an average price of $3.25, reducing her stake by 12.82% while still retaining over 1.2 million shares.

Performant Healthcare, Inc. (NASDAQ:PHLT - Get Free Report) has been assigned a consensus recommendation of "Hold" from the five analysts that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $7.8750.

Several research firms recently issued reports on PHLT. Wall Street Zen cut Performant Healthcare from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. Citizens Jmp lowered shares of Performant Healthcare from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Craig Hallum lowered shares of Performant Healthcare from a "strong-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 lowered shares of Performant Healthcare from a "strong-buy" rating to a "hold" rating in a report on Monday, August 4th. Finally, Lake Street Capital lowered shares of Performant Healthcare from a "strong-buy" rating to a "hold" rating and set a $7.75 price objective for the company. in a report on Monday, August 4th.

Performant Healthcare Trading Down 0.1%

Shares of NASDAQ:PHLT traded down $0.01 on Wednesday, reaching $7.62. 2,204,143 shares of the company traded hands, compared to its average volume of 1,528,633. The business's 50-day simple moving average is $4.16 and its 200 day simple moving average is $3.12. Performant Healthcare has a 52 week low of $2.17 and a 52 week high of $7.74. The stock has a market capitalization of $596.72 million, a P/E ratio of -95.25 and a beta of 0.41. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 0.10.

Performant Healthcare (NASDAQ:PHLT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.02) by $0.04. Performant Healthcare had a negative return on equity of 6.68% and a negative net margin of 4.62%. The firm had revenue of $33.27 million for the quarter, compared to analysts' expectations of $29.92 million. As a group, equities analysts anticipate that Performant Healthcare will post -0.13 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Lisa Im sold 180,867 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $3.25, for a total value of $587,817.75. Following the sale, the director directly owned 1,229,413 shares of the company's stock, valued at $3,995,592.25. The trade was a 12.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 9.20% of the stock is owned by company insiders.

Institutional Trading of Performant Healthcare

A number of hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC bought a new position in Performant Healthcare in the 2nd quarter valued at approximately $137,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Performant Healthcare during the 2nd quarter valued at $57,000. ProShare Advisors LLC purchased a new stake in Performant Healthcare during the 2nd quarter valued at $58,000. Savant Capital LLC purchased a new stake in shares of Performant Healthcare in the 2nd quarter worth $444,000. Finally, Bailard Inc. purchased a new stake in shares of Performant Healthcare in the 2nd quarter worth $301,000. 77.15% of the stock is owned by institutional investors.

About Performant Healthcare

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.