Performant Financial Corporation [PFMT] Stock trading around $1.83 per share: What’s Next?

Performant Financial Corporation [NASDAQ: PFMT] stock went on an upward path that rose over 22.82% on Tuesday, amounting to a one-week price increase of more than 24.49%. The company report on March 30, 2021 that Performant Financial Corporation Announces Strategic Initiatives to Focus on Healthcare.

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Performant Financial Corporation (Nasdaq: PFMT), a leading provider of technology-enabled cost containment and related analytics services, reiterated its intention to focus future investments on the long-term growth and profitability of its Healthcare operations, which for the full year 2020 had revenues of $68.5 million, an increase of greater than 58% as compared to 2019.


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Additionally, the Company is also reporting that it has signed an agreement to sell certain of its non-healthcare, recovery contracts to a buyer that specializes in outsourced receivables solutions. As a result of the transaction, we modified the terms of our credit agreement with ECMC to partially de-lever the Company, extend the maturity one year to August 2022, as well as achieve a modified covenant structure to support continued investment and growth. The credit agreement modifications will become effective upon the closing of the recovery contracts sale.

Over the last 12 months, PFMT stock rose by 128.75%. The average equity rating for PFMT stock is currently 3.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $98.33 million, with 54.76 million shares outstanding and 34.15 million shares in the current float. Compared to the average trading volume of 756.55K shares, PFMT stock reached a trading volume of 134170979 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Performant Financial Corporation [PFMT]:

Compass Point have made an estimate for Performant Financial Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 12, 2018. While these analysts kept the previous recommendation, Compass Point dropped their target price from $3 to $2.50. The new note on the price target was released on February 26, 2016, representing the official price target for Performant Financial Corporation stock. Previously, the target price had yet another drop from $6 to $3.50, while Compass Point kept a Neutral rating on PFMT stock. On February 27, 2015, analysts decreased their price target for PFMT shares from 10 to 6.

The Average True Range (ATR) for Performant Financial Corporation is set at 0.21, with the Price to Sales ratio for PFMT stock in the period of the last 12 months amounting to 0.63. The Price to Book ratio for the last quarter was 2.38, with the Price to Cash per share for the same quarter was set at 0.30. Price to Free Cash Flow for PFMT in the course of the last twelve months was 5.78 with Quick ratio for the last quarter at 0.70.

PFMT Stock Performance Analysis:

Performant Financial Corporation [PFMT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 24.49. With this latest performance, PFMT shares gained by 22.00% in over the last four-week period, additionally plugging by 79.41% over the last 6 months – not to mention a rise of 128.75% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PFMT stock in for the last two-week period is set at 62.70, with the RSI for the last a single of trading hit 66.88, and the three-weeks RSI is set at 60.80 for Performant Financial Corporation [PFMT]. The present Moving Average for the last 50 days of trading for this stock 1.3996, while it was recorded at 1.5460 for the last single week of trading, and 0.9765 for the last 200 days.

Insight into Performant Financial Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Performant Financial Corporation [PFMT] shares currently have an operating margin of +8.34 and a Gross Margin at +8.36. Performant Financial Corporation’s Net Margin is presently recorded at -8.97.

Return on Total Capital for PFMT is now 11.26, given the latest momentum, and Return on Invested Capital for the company is -17.21. Return on Equity for this stock declined to -29.26, with Return on Assets sitting at -10.55. When it comes to the capital structure of this company, Performant Financial Corporation [PFMT] has a Total Debt to Total Equity ratio set at 156.57. Additionally, PFMT Total Debt to Total Capital is recorded at 61.02, with Total Debt to Total Assets ending up at 52.07. Long-Term Debt to Equity for the company is recorded at 8.20, with the Long-Term Debt to Total Capital now at 3.20.

Reflecting on the efficiency of the workforce at the company, Performant Financial Corporation [PFMT] managed to generate an average of -$11,024 per employee. Receivables Turnover for the company is 5.10 with a Total Asset Turnover recorded at a value of 1.18.Performant Financial Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.70.

PFMT Stock EPS

With the latest financial reports released by the company, Performant Financial Corporation posted -0.14/share EPS, while the average EPS was predicted by analysts to be reported at -0.1/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -40.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PFMT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Performant Financial Corporation go to 20.00%.

Performant Financial Corporation [PFMT] Insider Position Details

There are presently around $38 million, or 40.90% of PFMT stock, in the hands of institutional investors. The top three institutional holders of PFMT stocks are: PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C. with ownership of 12,545,261, which is approximately 0% of the company’s market cap and around 31.28% of the total institutional ownership; MILL ROAD CAPITAL MANAGEMENT LLC, holding 3,479,615 shares of the stock with an approximate value of $6.37 million in PFMT stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $2.88 million in PFMT stock with ownership of nearly 47.881% of the company’s market capitalization.

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Positions in Performant Financial Corporation stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 14 institutional holders increased their position in Performant Financial Corporation [NASDAQ:PFMT] by around 1,512,671 shares. Additionally, 4 investors decreased positions by around 10,205,736 shares, while 6 investors held positions by with 8,824,901 shares. The mentioned changes placed institutional holdings at 20,543,308 shares, according to the latest SEC report filing. PFMT stock had 4 new institutional investments in for a total of 125,330 shares, while 3 institutional investors sold positions of 10,199,366 shares during the same period.

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