Performant Financial Co. (NASDAQ:PFMT) Shares Bought by Rhumbline Advisers

Rhumbline Advisers boosted its position in shares of Performant Financial Co. (NASDAQ:PFMT) by 32.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 84,953 shares of the business services provider’s stock after acquiring an additional 20,637 shares during the quarter. Rhumbline Advisers’ holdings in Performant Financial were worth $246,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. First Light Asset Management LLC lifted its stake in shares of Performant Financial by 8.7% in the 1st quarter. First Light Asset Management LLC now owns 10,515,127 shares of the business services provider’s stock valued at $30,914,000 after purchasing an additional 845,017 shares during the last quarter. Parkman Healthcare Partners LLC increased its stake in Performant Financial by 21.7% during the 4th quarter. Parkman Healthcare Partners LLC now owns 1,580,865 shares of the business services provider’s stock worth $4,940,000 after buying an additional 281,480 shares during the period. HighMark Wealth Management LLC lifted its holdings in Performant Financial by 61.6% during the 1st quarter. HighMark Wealth Management LLC now owns 725,550 shares of the business services provider’s stock worth $2,133,000 after buying an additional 276,500 shares in the last quarter. Kent Lake Capital LLC purchased a new position in Performant Financial in the 1st quarter valued at approximately $588,000. Finally, Wellington Management Group LLP grew its stake in shares of Performant Financial by 22.4% in the fourth quarter. Wellington Management Group LLP now owns 1,046,100 shares of the business services provider’s stock worth $3,269,000 after acquiring an additional 191,100 shares in the last quarter. 77.15% of the stock is owned by hedge funds and other institutional investors.

Performant Financial Stock Down 0.8 %

Shares of Performant Financial stock opened at $3.70 on Friday. Performant Financial Co. has a one year low of $2.00 and a one year high of $4.04. The company has a market cap of $285.60 million, a P/E ratio of -41.11 and a beta of 0.13. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.65 and a current ratio of 2.65. The firm has a fifty day moving average of $3.60 and a two-hundred day moving average of $3.11.

Performant Financial (NASDAQ:PFMT) last announced its quarterly earnings data on Wednesday, August 7th. The business services provider reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Performant Financial had a negative return on equity of 8.11% and a negative net margin of 5.32%. The company had revenue of $29.36 million for the quarter, compared to analyst estimates of $28.20 million. During the same quarter in the previous year, the company earned ($0.05) EPS. On average, analysts forecast that Performant Financial Co. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

Separately, B. Riley assumed coverage on Performant Financial in a research report on Thursday, July 25th. They set a “buy” rating and a $8.00 price objective for the company.

Performant Financial Company 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.