Performant Financial (PFMT) Announces Quarterly Earnings Results, Misses Estimates By $0.07 EPS

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

NASDAQ PFMT traded down $0.02 on Friday, reaching $1.53. The stock had a trading volume of 19,045 shares, compared to its average volume of 15,335. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.32 and a quick ratio of 2.32. Performant Financial has a 1 year low of $1.50 and a 1 year high of $3.52. The company has a market capitalization of $84.15 million, a P/E ratio of -8.05 and a beta of 1.30.

Hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC grew its stake in Performant Financial by 4.1% in the second 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 in the last quarter. 22NW LP grew its stake in Performant Financial by 237.1% in the second quarter. 22NW LP now owns 1,070,284 shares of the business services provider’s stock valued at $2,301,000 after purchasing an additional 752,754 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Performant Financial by 8.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,146,662 shares of the business services provider’s stock valued at $3,440,000 after purchasing an additional 84,896 shares in the last quarter. Hedge funds and other institutional investors own 58.25% of the company’s stock.

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

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About Performant Financial

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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