Performant Financial Corp (NASDAQ:PFMT) Stake Decreased by RBF Capital LLC

RBF Capital LLC lessened its holdings in Performant Financial Corp (NASDAQ:PFMT) by 11.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,648 shares of the business services provider’s stock after selling 16,495 shares during the period. RBF Capital LLC owned 0.23% of Performant Financial worth $128,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Renaissance Technologies LLC grew its stake in shares of Performant Financial by 1.2% in the 2nd quarter. Renaissance Technologies LLC now owns 944,839 shares of the business services provider’s stock valued at $992,000 after purchasing an additional 10,900 shares during the period. Prescott Group Capital Management L.L.C. raised its stake in shares of Performant Financial by 41.4% in the second quarter. Prescott Group Capital Management L.L.C. now owns 7,348,179 shares of the business services provider’s stock worth $7,716,000 after acquiring an additional 2,150,111 shares during the last quarter. Finally, Mirador Capital Partners LP raised its stake in shares of Performant Financial by 15.5% in the second quarter. Mirador Capital Partners LP now owns 192,445 shares of the business services provider’s stock worth $202,000 after acquiring an additional 25,762 shares during the last quarter. Hedge funds and other institutional investors own 56.47% of the company’s stock.

PFMT has been the topic of several research analyst reports. ValuEngine cut shares of Performant Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Zacks Investment Research cut Performant Financial from a “hold” rating to a “sell” rating in a report on Friday, August 23rd. Finally, William Blair restated a “market perform” rating on shares of Performant Financial in a research report on Monday, August 19th.

Shares of PFMT stock traded up $0.06 during trading hours on Wednesday, hitting $1.21. The company’s stock had a trading volume of 32 shares, compared to its average volume of 4,418. The stock has a market cap of $61.71 million, a price-to-earnings ratio of -3.78 and a beta of 0.22. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.90. The business has a fifty day moving average of $1.19 and a 200-day moving average of $1.59. Performant Financial Corp has a twelve month low of $1.00 and a twelve month high of $2.86.

Performant Financial (NASDAQ:PFMT) last released its quarterly earnings results on Tuesday, August 13th. The business services provider reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.02). The firm had revenue of $35.83 million for the quarter, compared to analyst estimates of $36.20 million. Performant Financial had a negative net margin of 20.11% and a negative return on equity of 32.75%. On average, equities analysts expect that Performant Financial Corp will post -0.41 EPS for the current fiscal year.

About Performant Financial

Performant Financial Corporation provides technology-enabled audit, recovery, outsource customer, and related analytics services in the United States. The company offers recovery services primarily to the government-supported student loan industry serving guaranty agencies, private financial institutions, and the Department of Education; and restructures and recovers student loans issued directly by banks to students outside of federal lending programs.

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Institutional Ownership by Quarter for Performant Financial (NASDAQ:PFMT)

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