Fmr LLC maintained its stake in shares of Performant Financial Corporation (NASDAQ:PFMT) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,328,962 shares of the business services provider’s stock at the end of the second quarter. Fmr LLC owned about 4.61% of Performant Financial Corporation worth $4,868,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PFMT. Prescott Group Capital Management L.L.C. raised its holdings in Performant Financial Corporation by 3.2% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 4,980,143 shares of the business services provider’s stock valued at $10,408,000 after acquiring an additional 156,285 shares in the last quarter. Mirador Capital Partners LP increased its stake in shares of Performant Financial Corporation by 161.9% in the 2nd quarter. Mirador Capital Partners LP now owns 50,876 shares of the business services provider’s stock valued at $103,000 after purchasing an additional 31,447 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Performant Financial Corporation by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,118,758 shares of the business services provider’s stock valued at $3,278,000 after purchasing an additional 9,968 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Performant Financial Corporation by 5.6% in the 2nd quarter. Northern Trust Corp now owns 72,716 shares of the business services provider’s stock valued at $152,000 after purchasing an additional 3,857 shares during the last quarter. 54.73% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research upgraded Performant Financial Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th.
Performant Financial Corporation (NASDAQ:PFMT) opened at $1.83 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.30 and a current ratio of 1.30.
Performant Financial Corporation (NASDAQ:PFMT) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. Performant Financial Corporation had a negative return on equity of 6.81% and a negative net margin of 13.74%. The company had revenue of $35.90 million for the quarter, compared to analyst estimates of $32.65 million. During the same quarter last year, the company posted $0.06 EPS. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. equities research analysts forecast that Performant Financial Corporation will post -0.12 EPS for the current fiscal year.
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About Performant Financial Corporation
Performant Financial Corporation (Performant) provides technology-enabled recovery and related analytics services in the United States. The Company’s services identify and recover delinquent or defaulted assets and improper payments for both government and private clients in a range of markets. The Company provides its services on an outsourced basis where the Company handles many or all aspects of its clients’ recovery processes.
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