Performant Financial Co. (NASDAQ:PFMT) Major Shareholder Prescott Group Capital Managem Buys 5,635 Shares of Stock

Performant Financial Co. (NASDAQ:PFMT – Get Rating) major shareholder Prescott Group Capital Managem acquired 5,635 shares of the stock in a transaction that occurred on Wednesday, March 15th. The shares were bought at an average price of $2.85 per share, for a total transaction of $16,059.75. Following the purchase, the insider now directly owns 15,460,339 shares of the company’s stock, valued at $44,061,966.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Prescott Group Capital Managem also recently made the following trade(s):

• On Friday, March 17th, Prescott Group Capital Managem purchased 300,182 shares of Performant Financial stock. The stock was acquired at an average price of $2.66 per share, for a total transaction of $798,484.12.

Performant Financial Price Performance

Performant Financial stock traded down $0.09 during mid-day trading on Friday, hitting $2.74. The company’s stock had a trading volume of 496,236 shares, compared to its average volume of 221,871. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $203.53 million, a P/E ratio of -34.25 and a beta of -0.39. Performant Financial Co. has a twelve month low of $1.72 and a twelve month high of $3.97. The stock’s fifty day moving average price is $3.28 and its two-hundred day moving average price is $2.66.

Hedge Funds Weigh In On Performant Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. acquired a new position in Performant Financial in the 4th quarter worth approximately $53,000. Virtu Financial LLC acquired a new position in Performant Financial in the 1st quarter worth approximately $57,000. Bank of Montreal Can acquired a new position in Performant Financial in the 1st quarter worth approximately $61,000. Marshall Wace LLP acquired a new position in Performant Financial in the 4th quarter worth approximately $77,000. Finally, Boothbay Fund Management LLC acquired a new position in Performant Financial in the 4th quarter worth approximately $79,000. Institutional investors and hedge funds own 64.79% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on PFMT shares. TheStreet upgraded shares of Performant Financial from a “d+” rating to a “c-” rating in a research report on Wednesday, December 28th. Lake Street Capital restated a “buy” rating and issued a $8.00 price target on shares of Performant Financial in a research report on Tuesday, December 20th. Finally, StockNews.com started coverage on shares of Performant Financial in a research report on Thursday. They issued a “hold” rating on the stock.

Performant Financial Company Profile

(Get Rating)

Performant Financial Corp. engages in the provision of technology-enabled audit, recovery, customer care, and related analytics services. Its services help identify improper payments, and in some markets, restructure and recover delinquent or defaulted assets and improper payments for both government and private clients.