Lisa Im Sells 6,154 Shares of Performant Financial Co. (NASDAQ:PFMT) Stock

Performant Financial Co. (NASDAQ:PFMT) Director Lisa Im sold 6,154 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $3.26, for a total value of $20,062.04. Following the completion of the sale, the director now owns 1,410,280 shares in the company, valued at approximately $4,597,512.80. This represents a 0.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Performant Financial Price Performance

Shares of PFMT stock opened at $3.59 on Friday. The firm’s 50-day simple moving average is $3.48 and its 200-day simple moving average is $3.36. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.11. Performant Financial Co. has a 1-year low of $2.37 and a 1-year high of $4.35.

Performant Financial (NASDAQ:PFMT) last posted its quarterly earnings results on Wednesday, November 6th. The business services provider reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The firm had revenue of $31.52 million during the quarter, compared to the consensus estimate of $31.70 million. Performant Financial had a negative return on equity of 10.19% and a negative net margin of 6.74%. During the same quarter in the previous year, the business earned ($0.01) earnings per share. As a group, research analysts anticipate that Performant Financial Co. will post -0.13 earnings per share for the current year.

Institutional Trading of Performant Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC raised its position in shares of Performant Financial by 195.3% in the 3rd quarter. Barclays PLC now owns 111,507 shares of the business services provider’s stock valued at $417,000 after purchasing an additional 73,748 shares in the last quarter. CWC Advisors LLC. bought a new stake in shares of Performant Financial in the 3rd quarter valued at approximately $271,000. Geode Capital Management LLC boosted its holdings in Performant Financial by 4.5% in 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 purchasing an additional 70,080 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Performant Financial by 12.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 526,277 shares of the business services provider’s stock valued at $1,526,000 after buying an additional 60,300 shares during the last quarter. Finally, HighMark Wealth Management LLC raised its position in shares of Performant Financial by 8.3% during the 2nd quarter. HighMark Wealth Management LLC now owns 785,550 shares of the business services provider’s stock worth $2,278,000 after purchasing an additional 60,000 shares during the period. Institutional investors and hedge funds own 77.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. B. Riley cut their price target on 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 Performant Financial to a “strong-buy” rating in a report on Tuesday, October 1st.

About Performant Financial

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.