Insider Buying: Performant Financial Co. (NASDAQ:PFMT) Major Shareholder Acquires $78,300.00 in Stock

Performant Financial Co. (NASDAQ:PFMT – Get Rating) major shareholder Prescott Group Capital Managem acquired 30,000 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The stock was purchased at an average cost of $2.61 per share, with a total value of $78,300.00. Following the completion of the acquisition, the insider now directly owns 15,793,291 shares of the company’s stock, valued at approximately $41,220,489.51. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock 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 shares were bought at an average cost of $2.66 per share, with a total value of $798,484.12.
• On Wednesday, March 15th, Prescott Group Capital Managem purchased 5,635 shares of Performant Financial stock. The stock was purchased at an average price of $2.85 per share, with a total value of $16,059.75.

Performant Financial Stock Up 4.0 %

Shares of NASDAQ:PFMT opened at $2.35 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.05 and a current ratio of 4.05. Performant Financial Co. has a 1 year low of $1.72 and a 1 year high of $3.97. The stock has a market capitalization of $177.44 million, a P/E ratio of -29.38 and a beta of -0.37. The stock has a 50-day simple moving average of $3.10 and a 200-day simple moving average of $3.00.

Analyst Ratings Changes

A number of analysts have issued reports on PFMT shares. TheStreet lowered Performant Financial from a “c” rating to a “d+” rating in a research note on Wednesday. StockNews.com raised Performant Financial from a “sell” rating to a “hold” rating in a research note on Friday, March 24th.

Institutional Trading of Performant Financial

A number of institutional investors have recently modified their holdings of PFMT. Citigroup Inc. purchased a new stake in shares of Performant Financial during the 4th quarter worth about $53,000. ExodusPoint Capital Management LP acquired a new position in shares of Performant Financial in the 1st quarter valued at approximately $53,000. Virtu Financial LLC acquired a new stake in shares of Performant Financial during the 1st quarter valued at approximately $57,000. Bank of Montreal Can acquired a new stake in shares of Performant Financial during the 1st quarter valued at approximately $61,000. Finally, Marshall Wace LLP acquired a new stake in shares of Performant Financial during the 4th quarter valued at approximately $77,000. Hedge funds and other institutional investors own 64.79% of the company’s 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.