Performant Financial Co. (NASDAQ:PFMT - Get Free Report) Director Lisa Im sold 6,154 shares of the firm's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $3.26, for a total transaction of $20,062.04. Following the completion of the transaction, the director now directly owns 1,410,280 shares of the company's stock, valued at $4,597,512.80. This represents a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Performant Financial Trading Up 4.6 %
PFMT stock opened at $3.40 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.67 and a quick ratio of 2.67. The company has a fifty day moving average price of $3.48 and a two-hundred day moving average price of $3.35. Performant Financial Co. has a one year low of $2.37 and a one year high of $4.35. The stock has a market cap of $266.19 million, a price-to-earnings ratio of -34.00 and a beta of 0.09.
Performant Financial (NASDAQ:PFMT - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The business services provider reported ($0.03) EPS for the quarter, hitting analysts' consensus estimates of ($0.03). Performant Financial had a negative net margin of 6.74% and a negative return on equity of 10.19%. The firm had revenue of $31.52 million during the quarter, compared to analysts' expectations of $31.70 million. During the same period in the previous year, the business posted ($0.01) earnings per share. Equities analysts anticipate that Performant Financial Co. will post -0.13 EPS for the current year.
Hedge Funds Weigh In On Performant Financial
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PFMT. Barclays PLC lifted its holdings in shares of Performant Financial by 195.3% during the third quarter. Barclays PLC now owns 111,507 shares of the business services provider's stock worth $417,000 after buying an additional 73,748 shares in the last quarter. CWC Advisors LLC. acquired a new stake in shares of Performant Financial during the third quarter worth $271,000. Geode Capital Management LLC lifted its holdings in shares of Performant Financial by 4.5% during the third quarter. Geode Capital Management LLC now owns 1,626,437 shares of the business services provider's stock worth $6,084,000 after buying an additional 70,080 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Performant Financial by 12.9% during the second quarter. Dimensional Fund Advisors LP now owns 526,277 shares of the business services provider's stock worth $1,526,000 after buying an additional 60,300 shares in the last quarter. Finally, HighMark Wealth Management LLC lifted its holdings in shares of Performant Financial by 8.3% during the second quarter. HighMark Wealth Management LLC now owns 785,550 shares of the business services provider's stock worth $2,278,000 after buying an additional 60,000 shares in the last quarter. 77.15% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on PFMT shares. B. Riley decreased their target price on shares of Performant Financial from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. Craig Hallum raised shares of Performant Financial to a "strong-buy" rating in a research note on Tuesday, October 1st.
Check Out Our Latest Research Report on Performant Financial
Performant Financial Company Profile
(
Get Free Report)
Performant Financial Corporation provides technology-enabled audit, recovery, and analytics services in the United States. The company identifies improper payments resulting from incorrect coding, procedures that were not medically necessary, incomplete documentation or claims submitted based on outdated fee schedules, and coverage discrepancies; and provides first party call center and other outsourced services.
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