Wellington Management Group LLP Purchases 191,100 Shares of Performant Financial Co. (NASDAQ:PFMT)

Wellington Management Group LLP lifted its position in shares of Performant Financial Co. (NASDAQ:PFMT) by 22.4% in the 4th quarter, Holdings Channel reports. The fund owned 1,046,100 shares of the business services provider’s stock after buying an additional 191,100 shares during the quarter. Wellington Management Group LLP’s holdings in Performant Financial were worth $3,269,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in 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. Mirador Capital Partners LP raised its stake in shares of Performant Financial by 14.6% during the 4th quarter. Mirador Capital Partners LP now owns 1,918,862 shares of the business services provider’s stock valued at $5,996,000 after purchasing an additional 244,811 shares during the period. HighMark Wealth Management LLC lifted its holdings in Performant Financial by 20,311.4% during the 4th quarter. HighMark Wealth Management LLC now owns 449,050 shares of the business services provider’s stock worth $1,406,000 after purchasing an additional 446,850 shares in the last quarter. White Pine Capital LLC boosted its stake in Performant Financial by 6.2% in the 4th 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 during the period. Finally, First Eagle Investment Management LLC grew its holdings in Performant Financial by 9.7% during the 4th 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. Hedge funds and other institutional investors own 77.15% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Performant Financial Stock Up 2.1 %

PFMT opened at $2.90 on Monday. The firm has a market capitalization of $223.16 million, a P/E ratio of -32.22 and a beta of 0.04. Performant Financial Co. has a one year low of $2.00 and a one year high of $3.31. The company has a fifty day moving average price of $2.95 and a 200-day moving average price of $2.88. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.75 and a quick ratio of 2.75.

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

Performant Financial Profile

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.