Insider Buying: TruBridge, Inc. (NASDAQ:TBRG) Major Shareholder Acquires 34,952 Shares of Stock

TruBridge, Inc. (NASDAQ:TBRG) major shareholder Pinetree Capital Ltd. purchased 34,952 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average price of $27.99 per share, with a total value of $978,306.48. Following the completion of the purchase, the insider now directly owns 768,250 shares of the company’s stock, valued at approximately $21,503,317.50. This represents a 4.77 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Pinetree Capital Ltd. also recently made the following trade(s):

• On Tuesday, February 18th, Pinetree Capital Ltd. bought 6,795 shares of TruBridge stock. The stock was acquired at an average cost of $28.16 per share, for a total transaction of $191,347.20.
• On Thursday, February 13th, Pinetree Capital Ltd. bought 74,981 shares of TruBridge stock. The stock was acquired at an average cost of $27.61 per share, for a total transaction of $2,070,225.41.

TruBridge Stock Performance

TBRG opened at $28.26 on Friday. The business’s 50 day moving average is $22.83 and its 200-day moving average is $16.89. The stock has a market cap of $421.92 million, a PE ratio of -6.91, a price-to-earnings-growth ratio of 5.38 and a beta of 0.69. The company has a current ratio of 1.80, a quick ratio of 1.78 and a debt-to-equity ratio of 1.00. TruBridge, Inc. has a twelve month low of $7.55 and a twelve month high of $29.27.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TBRG shares. Stephens raised their target price on shares of TruBridge from $13.00 to $17.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. Barclays raised their target price on shares of TruBridge from $10.00 to $14.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th.

Institutional Investors Weigh In On TruBridge

Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. bought a new stake in shares of TruBridge during the third quarter valued at approximately $875,000. GSA Capital Partners LLP bought a new stake in shares of TruBridge during the third quarter valued at approximately $389,000. BNP Paribas Financial Markets bought a new stake in shares of TruBridge during the third quarter valued at approximately $161,000. Geode Capital Management LLC bought a new stake in shares of TruBridge during the third quarter valued at approximately $1,747,000. Finally, State Street Corp bought a new stake in shares of TruBridge during the third quarter valued at approximately $829,000. Institutional investors own 88.64% of the company’s stock.

TruBridge Company Profile

TruBridge, Inc provides healthcare solutions and services for community hospitals, clinics, and other healthcare systems in the United States and internationally. The company operates in three segments: Revenue Cycle Management (RCM), Electronic Health Record (HER), and Patient Engagement. It focuses on providing RCM solutions for care settings, regardless of primary healthcare information solutions provider along with business management, consulting, managed IT services, and analytics and business intelligence.