Walleye Capital LLC Invests $884,000 in TruBridge, Inc. (NASDAQ:TBRG)

Walleye Capital LLC bought a new stake in shares of TruBridge, Inc. (NASDAQ:TBRG - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 73,921 shares of the company's stock, valued at approximately $884,000. Walleye Capital LLC owned 0.49% of TruBridge as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of TruBridge during the second quarter valued at about $297,000. Cubist Systematic Strategies LLC bought a new position in TruBridge in the second quarter worth approximately $740,000. Point72 DIFC Ltd acquired a new stake in TruBridge in the second quarter valued at approximately $56,000. GAMMA Investing LLC bought a new stake in shares of TruBridge during the third quarter valued at approximately $26,000. Finally, Williams & Novak LLC acquired a new position in shares of TruBridge during the third quarter worth approximately $234,000. 88.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $13.00 price target on shares of TruBridge in a research note on Friday, October 4th. Barclays boosted their target price on shares of TruBridge from $10.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. Stephens raised their price target on shares of TruBridge from $13.00 to $17.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $14.00 price target on shares of TruBridge in a research note on Tuesday, September 17th.

TruBridge Stock Performance

TBRG stock traded up $0.23 during midday trading on Friday, hitting $18.32. The company's stock had a trading volume of 82,107 shares, compared to its average volume of 58,210. The stock has a market cap of $273.52 million, a price-to-earnings ratio of -4.48, a PEG ratio of 76.39 and a beta of 0.69. The company has a quick ratio of 1.78, a current ratio of 1.80 and a debt-to-equity ratio of 1.00. The stock's 50-day moving average price is $14.38 and its 200 day moving average price is $12.27. TruBridge, Inc. has a 1 year low of $7.55 and a 1 year high of $18.74.

Insider Buying and Selling

In other news, major shareholder Pinetree Capital Ltd. acquired 3,997 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The shares were acquired at an average price of $11.93 per share, for a total transaction of $47,684.21. Following the completion of the purchase, the insider now owns 603,997 shares in the company, valued at approximately $7,205,684.21. This trade represents a 0.67 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark V. Anquillare bought 2,500 shares of the firm's stock in a transaction on Monday, November 25th. The stock was purchased at an average cost of $16.81 per share, with a total value of $42,025.00. Following the completion of the transaction, the director now directly owns 17,178 shares of the company's stock, valued at approximately $288,762.18. The trade was a 17.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.60% of the stock is owned by insiders.

TruBridge 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.