Connor Clark & Lunn Investment Management Ltd. Has $260,000 Stock Position in Performant Financial Co. (NASDAQ:PFMT)

Connor Clark & Lunn Investment Management Ltd. increased its stake in Performant Financial Co. (NASDAQ:PFMT) by 55.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,440 shares of the business services provider’s stock after purchasing an additional 24,803 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Performant Financial were worth $260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PFMT. CWC Advisors LLC. purchased a new position in shares of Performant Financial during the third quarter valued at $271,000. Dimensional Fund Advisors LP grew its stake in 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 acquiring an additional 60,300 shares in the last quarter. HighMark Wealth Management LLC increased its holdings in shares of 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 purchasing an additional 60,000 shares during the period. Vanguard Group Inc. increased its holdings in shares of Performant Financial by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 3,663,336 shares of the business services provider’s stock valued at $10,770,000 after purchasing an additional 59,043 shares during the period. Finally, Mirador Capital Partners LP lifted its position in shares of Performant Financial by 2.8% in the second quarter. Mirador Capital Partners LP now owns 2,051,195 shares of the business services provider’s stock worth $5,948,000 after purchasing an additional 55,400 shares in the last quarter. Institutional investors and hedge funds own 77.15% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on PFMT shares. Craig Hallum upgraded shares of Performant Financial to a “strong-buy” rating in a research note 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.

Performant Financial Stock Up 1.0 %

Shares of PFMT stock opened at $3.14 on Monday. Performant Financial Co. has a 12 month low of $2.37 and a 12 month high of $4.35. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.11. The firm has a market cap of $245.83 million, a PE ratio of -31.40 and a beta of 0.14. The stock has a 50 day moving average of $3.57 and a 200-day moving average of $3.35.

Performant Financial (NASDAQ:PFMT) last posted its quarterly earnings results on Wednesday, November 6th. The business services provider reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $31.52 million during the quarter, compared to analysts’ expectations 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 prior year, the firm posted ($0.01) EPS. On average, equities analysts predict that Performant Financial Co. will post -0.13 EPS for the current year.

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.