Wellington Management Group LLP Invests $1.93 Million in Performant Financial Co. (NASDAQ:PFMT)

Wellington Management Group LLP acquired a new position in Performant Financial Co. (NASDAQ:PFMT - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 855,000 shares of the business services provider's stock, valued at approximately $1,932,000. Wellington Management Group LLP owned 1.11% of Performant Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in PFMT. First Eagle Investment Management LLC increased its stake in Performant Financial by 31.3% during the third quarter. First Eagle Investment Management LLC now owns 1,955,024 shares of the business services provider's stock valued at $4,418,000 after acquiring an additional 465,624 shares during the period. Barclays PLC acquired a new stake in Performant Financial during the second quarter valued at approximately $71,000. Punch & Associates Investment Management Inc. boosted its holdings in Performant Financial by 5.9% during the third quarter. Punch & Associates Investment Management Inc. now owns 2,731,405 shares of the business services provider's stock valued at $6,173,000 after purchasing an additional 151,305 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Performant Financial during the third quarter valued at approximately $34,000. Finally, Driehaus Capital Management LLC boosted its holdings in Performant Financial by 2.1% during the second quarter. Driehaus Capital Management LLC now owns 1,560,113 shares of the business services provider's stock valued at $4,212,000 after purchasing an additional 31,732 shares in the last quarter. 77.15% of the stock is currently owned by institutional investors.

Performant Financial Price Performance

Shares of PFMT traded up $0.03 on Thursday, hitting $2.94. The company's stock had a trading volume of 706,608 shares, compared to its average volume of 193,015. The company has a market capitalization of $226.14 million, a PE ratio of -29.40 and a beta of 0.06. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.21 and a quick ratio of 3.21. Performant Financial Co. has a fifty-two week low of $2.00 and a fifty-two week high of $3.61. The company has a 50 day moving average price of $2.87 and a 200 day moving average price of $2.70.

Analyst Ratings Changes

Separately, TheStreet raised Performant Financial from a "d+" rating to a "c-" rating in a report on Friday, December 15th.

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.