Insider Selling: Performant Financial Corp (NASDAQ:PFMT) CEO Sells 40,450 Shares of Stock

Performant Financial Corp (NASDAQ:PFMT) CEO Lisa Im sold 40,450 shares of the company’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $1.60, for a total transaction of $64,720.00. Following the completion of the sale, the chief executive officer now directly owns 1,456,884 shares in the company, valued at approximately $2,331,014.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Lisa Im also recently made the following trade(s):

  • On Friday, January 12th, Lisa Im sold 150,000 shares of Performant Financial stock. The shares were sold at an average price of $2.88, for a total transaction of $432,000.00.

Performant Financial Corp (NASDAQ:PFMT) traded down $0.04 on Friday, reaching $2.59. 29,585 shares of the company were exchanged, compared to its average volume of 622,570. Performant Financial Corp has a 1-year low of $1.50 and a 1-year high of $3.52. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.49.

Performant Financial (NASDAQ:PFMT) last released its quarterly earnings results on Tuesday, November 7th. The business services provider reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.08). The firm had revenue of $29.70 million for the quarter, compared to analyst estimates of $31.45 million. Performant Financial had a negative net margin of 19.27% and a negative return on equity of 15.46%. Performant Financial’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.02 earnings per share. equities analysts forecast that Performant Financial Corp will post -0.25 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp lifted its position in shares of Performant Financial by 5.6% in the 2nd quarter. Northern Trust Corp now owns 72,716 shares of the business services provider’s stock worth $152,000 after buying an additional 3,857 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of Performant Financial by 2.0% in the 2nd quarter. Sterling Capital Management LLC now owns 404,570 shares of the business services provider’s stock worth $846,000 after buying an additional 8,060 shares during the last quarter. Finally, 22NW LP lifted its position in shares of Performant Financial by 2.5% in the 3rd quarter. 22NW LP now owns 1,149,038 shares of the business services provider’s stock worth $2,091,000 after buying an additional 28,533 shares during the last quarter. 54.48% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on PFMT shares. Compass Point raised shares of Performant Financial from a “neutral” rating to a “buy” rating in a research note on Friday, January 12th. Zacks Investment Research raised shares of Performant Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. Finally, ValuEngine raised shares of Performant Financial from a “sell” rating to a “hold” rating in a research note on Friday, December 1st.

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Performant Financial Company Profile

Performant Financial Corporation (Performant) provides technology-enabled recovery and related analytics services in the United States. The Company’s services identify and recover delinquent or defaulted assets and improper payments for both government and private clients in a range of markets. The Company provides its services on an outsourced basis where the Company handles many or all aspects of its clients’ recovery processes.

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