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 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 transaction, the director now owns 1,410,280 shares of the company’s stock, valued at approximately $4,597,512.80. The trade was a 0.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Performant Financial Stock Performance

Shares of PFMT traded up $0.15 during trading hours on Wednesday, reaching $3.40. 168,408 shares of the company’s stock traded hands, compared to its average volume of 174,351. Performant Financial Co. has a twelve month low of $2.37 and a twelve month high of $4.35. The business’s fifty day simple moving average is $3.48 and its two-hundred day simple moving average is $3.35. 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 firm has a market capitalization of $266.19 million, a price-to-earnings ratio of -32.50 and a beta of 0.09.

Performant Financial (NASDAQ:PFMT) last announced its 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). 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 analyst estimates of $31.70 million. During the same quarter in the prior year, the firm posted ($0.01) EPS. Analysts predict that Performant Financial Co. will post -0.13 earnings per share for the current year.

Institutional Investors Weigh In On Performant Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFMT. Barclays PLC boosted its stake in Performant Financial by 195.3% during 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 position in Performant Financial during the third quarter valued at about $271,000. Geode Capital Management LLC grew its holdings in 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 acquiring an additional 70,080 shares during the period. Dimensional Fund Advisors LP raised its position in Performant Financial by 12.9% in the second quarter. Dimensional Fund Advisors LP now owns 526,277 shares of the business services provider’s stock worth $1,526,000 after acquiring an additional 60,300 shares in the last quarter. Finally, HighMark Wealth Management LLC lifted its holdings in Performant Financial by 8.3% in the 2nd quarter. HighMark Wealth Management LLC now owns 785,550 shares of the business services provider’s stock valued at $2,278,000 after acquiring an additional 60,000 shares during the last quarter. Institutional investors own 77.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Craig Hallum upgraded shares of Performant Financial to a “strong-buy” rating in a research report on Tuesday, October 1st. B. Riley dropped their price target on shares of Performant Financial from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th.

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.