Performant Financial Co. (NASDAQ:PFMT) Shares Purchased by Mirador Capital Partners LP

Mirador Capital Partners LP boosted its position in shares of Performant Financial Co. (NASDAQ:PFMT) by 4.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,995,795 shares of the business services provider’s stock after acquiring an additional 76,933 shares during the period. Performant Financial makes up approximately 1.1% of Mirador Capital Partners LP’s portfolio, making the stock its 19th largest position. Mirador Capital Partners LP’s holdings in Performant Financial were worth $5,868,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in shares of Performant Financial by 38.0% during the 4th quarter. SG Americas Securities LLC now owns 20,866 shares of the business services provider’s stock valued at $65,000 after acquiring an additional 5,742 shares during the period. White Pine Capital LLC boosted its position in Performant Financial by 6.2% during the fourth quarter. White Pine Capital LLC now owns 225,330 shares of the business services provider’s stock worth $704,000 after purchasing an additional 13,221 shares in the last quarter. Greenwood Capital Associates LLC grew its holdings in Performant Financial by 40.6% in the fourth quarter. Greenwood Capital Associates LLC now owns 244,697 shares of the business services provider’s stock valued at $765,000 after purchasing an additional 70,682 shares during the period. First Eagle Investment Management LLC increased its position in shares of Performant Financial by 9.7% in the fourth quarter. First Eagle Investment Management LLC now owns 2,144,387 shares of the business services provider’s stock valued at $6,701,000 after buying an additional 189,363 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Performant Financial by 22.4% during the 4th quarter. Wellington Management Group LLP now owns 1,046,100 shares of the business services provider’s stock worth $3,269,000 after buying an additional 191,100 shares during the period. Hedge funds and other institutional investors own 77.15% of the company’s stock.

Performant Financial Price Performance

Shares of PFMT traded up $0.06 during mid-day trading on Monday, hitting $2.90. 949,900 shares of the company were exchanged, compared to its average volume of 198,026. The stock has a market cap of $223.16 million, a price-to-earnings ratio of -32.22 and a beta of 0.17. Performant Financial Co. has a 1-year low of $2.00 and a 1-year high of $3.31. The company has a 50 day moving average of $2.95 and a 200-day moving average of $2.88. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.75 and a current ratio of 2.75.

Performant Financial (NASDAQ:PFMT) last announced its earnings results on Tuesday, May 7th. The business services provider reported ($0.05) EPS for the quarter. The firm had revenue of $27.33 million for the quarter. Performant Financial had a negative net margin of 6.34% and a negative return on equity of 9.30%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Performant Financial from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th.

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.