Performant Financial Co. (NASDAQ:PFMT) Shares Bought by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC raised its holdings in Performant Financial Co. (NASDAQ:PFMT) by 21.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,580,865 shares of the business services provider’s stock after purchasing an additional 281,480 shares during the period. Parkman Healthcare Partners LLC owned about 2.06% of Performant Financial worth $4,940,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in PFMT. SG Americas Securities LLC raised 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 in the last quarter. White Pine Capital LLC raised its position in shares of Performant Financial by 6.2% during the 4th quarter. White Pine Capital LLC now owns 225,330 shares of the business services provider’s stock valued at $704,000 after acquiring an additional 13,221 shares in the last quarter. HighMark Wealth Management LLC raised its position in shares of 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 valued at $1,406,000 after acquiring an additional 446,850 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Performant Financial during the 3rd quarter valued at approximately $1,932,000. Finally, Mirador Capital Partners LP raised its position 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 acquiring an additional 244,811 shares in the last quarter. 77.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Performant Financial Stock Performance

PFMT traded down $0.04 during trading on Thursday, reaching $3.06. 80,604 shares of the company were exchanged, compared to its average volume of 198,662. The stock has a market cap of $235.48 million, a P/E ratio of -33.89 and a beta of 0.04. The firm has a 50 day moving average of $2.88 and a 200 day moving average of $2.88. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.06. Performant Financial Co. has a 52 week low of $2.00 and a 52 week high of $3.61.

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

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.