Fintel reports that First Light Asset Management has filed a 13G/A form with the SEC disclosing ownership of 7.79MM shares of Performant Financial Corp (PFMT). This represents 10.49% of the company.
In their previous filing dated February 14, 2022 they reported 4.92MM shares and 7.12% of the company, an increase in shares of 58.24% and an increase in total ownership of 3.37% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 133.94% Upside
As of February 2, 2023, the average one-year price target for Performant Financial is $7.65. The forecasts range from a low of $7.07 to a high of $8.40. The average price target represents an increase of 133.94% from its latest reported closing price of $3.27.
The projected annual revenue for Performant Financial is $124MM, an increase of 10.92%. The projected annual EPS is $-0.07.
Fund Sentiment
There are 84 funds or institutions reporting positions in Performant Financial. This is a decrease of 3 owner(s) or 3.45%.
Average portfolio weight of all funds dedicated to US:PFMT is 0.2127%, a decrease of 19.2417%. Total shares owned by institutions increased in the last three months by 0.22% to 47,447K shares.
What are large shareholders doing?
Prescott Group Capital Management, L.l.c. holds 15,454,704 shares representing 20.81% ownership of the company. No change in the last quarter.
Mill Road Capital Management holds 3,261,675 shares representing 4.39% ownership of the company. No change in the last quarter.
Driehaus Capital Management holds 2,915,392 shares representing 3.92% ownership of the company. In it's prior filing, the firm reported owning 3,047,313 shares, representing a decrease of 4.52%. The firm decreased its portfolio allocation in PFMT by 37.09% over the last quarter.
Cooper Creek Partners Management holds 2,600,668 shares representing 3.50% ownership of the company. In it's prior filing, the firm reported owning 2,567,120 shares, representing an increase of 1.29%. The firm decreased its portfolio allocation in PFMT by 37.62% over the last quarter.
Punch & Associates Investment Management holds 2,434,100 shares representing 3.28% ownership of the company. In it's prior filing, the firm reported owning 2,109,100 shares, representing an increase of 13.35%. The firm decreased its portfolio allocation in PFMT by 18.98% over the last quarter.
Performant Financial Background Information
(This description is provided by the company.)
Performant helps government and commercial organizations enhance revenue and contain costs by preventing, identifying and recovering waste, improper payments and defaulted assets. Performant is a leading provider of these services in several industries, including healthcare, student loans and government. Performant has been providing recovery audit services for more than nine years to both commercial and government clients, including serving as a Recovery Auditor for the Centers for Medicare and Medicaid Services.
This story originally appeared on Fintel.
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