Performant Financial Co. (NASDAQ:PFMT) Major Shareholder Prescott Group Capital Managem Purchases 300,182 Shares of Stock

Performant Financial Co. (NASDAQ:PFMT – Get Rating) major shareholder Prescott Group Capital Managem purchased 300,182 shares of the company’s stock in a transaction that occurred on Friday, March 17th. The shares were purchased at an average price of $2.66 per share, with a total value of $798,484.12. Following the completion of the transaction, the insider now directly owns 15,763,291 shares of the company’s stock, valued at approximately $41,930,354.06. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Prescott Group Capital Managem also recently made the following trade(s):

• On Wednesday, March 15th, Prescott Group Capital Managem acquired 5,635 shares of Performant Financial stock. The shares were bought at an average cost of $2.85 per share, for a total transaction of $16,059.75.

Performant Financial Trading Down 3.2 %

Shares of Performant Financial stock traded down $0.09 during trading hours on Friday, hitting $2.74. The company’s stock had a trading volume of 496,236 shares, compared to its average volume of 221,871. Performant Financial Co. has a twelve month low of $1.72 and a twelve month high of $3.97. The firm has a fifty day moving average of $3.28 and a 200-day moving average of $2.66. The stock has a market cap of $203.53 million, a price-to-earnings ratio of -34.25 and a beta of -0.39. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.22 and a current ratio of 4.22.

Hedge Funds Weigh In On Performant Financial

Large investors have recently modified their holdings of the business. Parkman Healthcare Partners LLC lifted its stake in Performant Financial by 1.2% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,023,350 shares of the business services provider’s stock worth $1,893,000 after acquiring an additional 12,026 shares in the last quarter. Essex Investment Management Co. LLC lifted its stake in Performant Financial by 2.8% during the 3rd quarter. Essex Investment Management Co. LLC now owns 478,676 shares of the business services provider’s stock worth $886,000 after acquiring an additional 12,861 shares in the last quarter. Bank of Montreal Can lifted its stake in Performant Financial by 2,004.4% during the 2nd quarter. Bank of Montreal Can now owns 408,224 shares of the business services provider’s stock worth $1,106,000 after acquiring an additional 388,825 shares in the last quarter. Citigroup Inc. acquired a new position in Performant Financial during the 4th quarter worth about $53,000. Finally, First Light Asset Management LLC lifted its stake in Performant Financial by 47.2% during the 4th quarter. First Light Asset Management LLC now owns 7,387,280 shares of the business services provider’s stock worth $26,668,000 after acquiring an additional 2,367,173 shares in the last quarter. Institutional investors and hedge funds own 64.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PFMT. Lake Street Capital reissued a “buy” rating and set a $8.00 price objective on shares of Performant Financial in a research note on Tuesday, December 20th. StockNews.com initiated coverage on Performant Financial in a research note on Thursday. They set a “hold” rating on the stock. Finally, TheStreet raised Performant Financial from a “d+” rating to a “c-” rating in a research note on Wednesday, December 28th.

Performant Financial Company Profile

(Get Rating)

Performant Financial Corp. 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.