Performant Financial (PFMT) Releases Earnings Results, Misses Expectations By $0.07 EPS

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

Shares of Performant Financial stock traded down $0.02 on Friday, reaching $1.53. 19,045 shares of the company were exchanged, compared to its average volume of 15,335. The firm has a market capitalization of $84.15 million, a PE ratio of -8.05 and a beta of 1.30. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.44. Performant Financial has a fifty-two week low of $1.50 and a fifty-two week high of $3.52.

Several institutional investors have recently made changes to their positions in the company. 22NW LP raised its position in shares of Performant Financial by 189.5% during the third quarter. 22NW LP now owns 3,098,991 shares of the business services provider’s stock worth $6,570,000 after purchasing an additional 2,028,707 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Performant Financial by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,179,111 shares of the business services provider’s stock worth $2,535,000 after purchasing an additional 32,449 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Performant Financial by 4.1% during the second quarter. Renaissance Technologies LLC now owns 927,400 shares of the business services provider’s stock worth $1,994,000 after purchasing an additional 36,100 shares during the period. 58.25% of the stock is currently owned by institutional investors.

Separately, TheStreet raised Performant Financial from a “d+” rating to a “c-” rating in a research report 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.

Further Reading: Asset Allocation, Balancing Your Investments

Earnings History for Performant Financial (NASDAQ:PFMT)

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