Mirador Capital Partners LP Buys 76,933 Shares of Performant Financial Co. (NASDAQ:PFMT)

Mirador Capital Partners LP raised its stake in Performant Financial Co. (NASDAQ:PFMT) by 4.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,995,795 shares of the business services provider’s stock after purchasing an additional 76,933 shares during the quarter. Performant Financial accounts for 1.1% of Mirador Capital Partners LP’s portfolio, making the stock its 19th biggest position. Mirador Capital Partners LP owned 2.59% of Performant Financial worth $5,868,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. SG Americas Securities LLC grew its position in Performant Financial by 38.0% in the 4th quarter. SG Americas Securities LLC now owns 20,866 shares of the business services provider’s stock worth $65,000 after purchasing an additional 5,742 shares during the period. White Pine Capital LLC grew its stake in shares of Performant Financial by 6.2% during the 4th quarter. White Pine Capital LLC now owns 225,330 shares of the business services provider’s stock valued at $704,000 after purchasing an additional 13,221 shares during the period. Greenwood Capital Associates LLC lifted its stake in shares of Performant Financial by 40.6% in the 4th quarter. Greenwood Capital Associates LLC now owns 244,697 shares of the business services provider’s stock worth $765,000 after purchasing an additional 70,682 shares during the period. HighMark Wealth Management LLC boosted its holdings in shares of Performant Financial by 20,311.4% in the fourth quarter. HighMark Wealth Management LLC now owns 449,050 shares of the business services provider’s stock worth $1,406,000 after buying an additional 446,850 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in Performant Financial during the third quarter valued at approximately $1,932,000. Hedge funds and other institutional investors own 77.15% of the company’s stock.

Analyst Ratings Changes

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

Performant Financial Stock Performance

NASDAQ:PFMT traded up $0.06 during mid-day trading on Monday, hitting $2.90. 949,900 shares of the company traded hands, compared to its average volume of 198,026. The stock’s fifty day moving average price is $2.95 and its 200-day moving average price is $2.88. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.06. Performant Financial Co. has a one year low of $2.00 and a one year high of $3.31. The firm has a market cap of $223.16 million, a price-to-earnings ratio of -32.22 and a beta of 0.17.

Performant Financial (NASDAQ:PFMT) last announced its quarterly earnings data on Tuesday, May 7th. The business services provider reported ($0.05) earnings per share (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 $27.33 million for 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.