Performant Financial Co. (NASDAQ:PFMT) Major Shareholder Prescott Group Capital Managem Buys 300,182 Shares

Performant Financial Co. (NASDAQ:PFMT – Get Rating) major shareholder Prescott Group Capital Managem bought 300,182 shares of the stock in a transaction on Friday, March 17th. The shares were bought at an average cost of $2.66 per share, for a total transaction of $798,484.12. Following the purchase, the insider now owns 15,763,291 shares in the company, valued at approximately $41,930,354.06. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% 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 Wednesday, March 15th, Prescott Group Capital Managem acquired 5,635 shares of Performant Financial stock. The shares were acquired at an average price of $2.85 per share, with a total value of $16,059.75.

Performant Financial Stock Down 3.2 %

Shares of PFMT opened at $2.74 on Friday. Performant Financial Co. has a one year low of $1.72 and a one year high of $3.97. The company has a 50-day moving average of $3.28 and a two-hundred day moving average of $2.66. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.22.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of Performant Financial in a research report on Thursday. They set a “hold” rating for the company. TheStreet upgraded shares of Performant Financial from a “d+” rating to a “c-” rating in a research report on Wednesday, December 28th. Finally, Lake Street Capital restated a “buy” rating and set a $8.00 price objective on shares of Performant Financial in a research report on Tuesday, December 20th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Citigroup Inc. acquired a new position in shares of Performant Financial in the fourth quarter worth about $53,000. Virtu Financial LLC acquired a new position in shares of Performant Financial in the first quarter worth about $57,000. Bank of Montreal Can acquired a new position in shares of Performant Financial in the first quarter worth about $61,000. Marshall Wace LLP acquired a new position in shares of Performant Financial in the fourth quarter worth about $77,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Performant Financial during the fourth quarter worth approximately $79,000. 64.79% of the stock is currently owned by institutional investors and hedge funds.

About Performant Financial

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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.