Performant Financial Corp (NASDAQ:PFMT) shares saw unusually-high trading volume on Friday . Approximately 9,182,813 shares traded hands during trading, an increase of 767% from the previous session’s volume of 1,058,690 shares.The stock last traded at $2.31 and had previously closed at $1.94.

PFMT has been the topic of several research reports. Compass Point raised Performant Financial from a “neutral” rating to a “buy” rating in a research report on Friday. Zacks Investment Research raised Performant Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Finally, ValuEngine raised Performant Financial from a “sell” rating to a “hold” rating in a research report on Friday, December 1st.

The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.17 and a current ratio of 1.17.

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

In other Performant Financial news, CEO Lisa Im sold 40,450 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $1.60, for a total value of $64,720.00. Following the sale, the chief executive officer now directly owns 1,456,884 shares of the company’s stock, valued at $2,331,014.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 33.60% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Northern Trust Corp increased its position in Performant Financial by 5.6% in the second 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 period. Sterling Capital Management LLC increased its position in Performant Financial by 2.0% in the second 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 period. Finally, 22NW LP increased its position in Performant Financial by 2.5% in the third 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 period. 54.48% of the stock is currently owned by hedge funds and other institutional investors.

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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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