Performant Financial Co. (NASDAQ:PFMT) Shares Acquired by First Eagle Investment Management LLC

First Eagle Investment Management LLC raised its stake in shares of Performant Financial Co. (NASDAQ:PFMT) by 9.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,144,387 shares of the business services provider’s stock after buying an additional 189,363 shares during the period. First Eagle Investment Management LLC owned approximately 2.79% of Performant Financial worth $6,701,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in Performant Financial during the third quarter worth about $34,000. White Pine Capital LLC raised its holdings in shares of 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 in the last quarter. HighMark Wealth Management LLC lifted its stake in Performant Financial by 20,311.4% during the fourth quarter. HighMark Wealth Management LLC now owns 449,050 shares of the business services provider’s stock valued at $1,406,000 after purchasing an additional 446,850 shares during the last quarter. Wellington Management Group LLP bought a new stake in Performant Financial during the third quarter worth approximately $1,932,000. Finally, Mirador Capital Partners LP grew its position in Performant Financial by 14.6% in the fourth quarter. Mirador Capital Partners LP now owns 1,918,862 shares of the business services provider’s stock worth $5,996,000 after buying an additional 244,811 shares during the last quarter. 77.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Performant Financial Trading Up 0.6 %

NASDAQ:PFMT opened at $3.17 on Friday. The stock has a fifty day simple moving average of $2.83 and a 200 day simple moving average of $2.83. Performant Financial Co. has a 1-year low of $2.00 and a 1-year high of $3.61. 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 (NASDAQ:PFMT) last announced its earnings results on Tuesday, March 12th. The business services provider reported $0.02 EPS for the quarter. Performant Financial had a negative net margin of 6.34% and a negative return on equity of 9.30%. The company had revenue of $32.57 million during the quarter.

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.