HighMark Wealth Management LLC Has $1.41 Million Position in Performant Financial Co. (NASDAQ:PFMT)

HighMark Wealth Management LLC increased its stake in shares of Performant Financial Co. (NASDAQ:PFMT - Free Report) by 20,311.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 449,050 shares of the business services provider's stock after buying an additional 446,850 shares during the quarter. Performant Financial comprises approximately 0.9% of HighMark Wealth Management LLC's investment portfolio, making the stock its 11th biggest position. HighMark Wealth Management LLC owned about 0.58% of Performant Financial worth $1,406,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PFMT. SG Americas Securities LLC lifted its stake in Performant Financial by 38.0% during the fourth 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 last quarter. Bank of New York Mellon Corp lifted its stake in Performant Financial by 11.9% during the third quarter. Bank of New York Mellon Corp now owns 63,198 shares of the business services provider's stock worth $117,000 after purchasing an additional 6,727 shares during the last quarter. Boothbay Fund Management LLC lifted its stake in Performant Financial by 44.5% during the first quarter. Boothbay Fund Management LLC now owns 31,575 shares of the business services provider's stock worth $107,000 after purchasing an additional 9,729 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Performant Financial by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 255,499 shares of the business services provider's stock worth $795,000 after purchasing an additional 11,317 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new stake in Performant Financial during the third quarter worth $28,000. Institutional investors and hedge funds own 77.15% of the company's stock.

Analyst Ratings Changes

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

Performant Financial Price Performance

Shares of PFMT traded down $0.28 during trading hours on Monday, reaching $2.66. The stock had a trading volume of 849,332 shares, compared to its average volume of 203,601. The stock has a market capitalization of $204.61 million, a PE ratio of -26.60 and a beta of 0.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.21 and a current ratio of 3.21. Performant Financial Co. has a 12 month low of $2.00 and a 12 month high of $3.61. The company's 50-day moving average is $2.87 and its two-hundred day moving average is $2.71.

About Performant Financial

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.

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