Adams Wealth Management Sells 63,362 Shares of TruBridge, Inc. (NASDAQ:TBRG)

Adams Wealth Management lowered its position in TruBridge, Inc. (NASDAQ:TBRG - Free Report) by 26.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 177,036 shares of the company's stock after selling 63,362 shares during the quarter. Adams Wealth Management owned about 1.19% of TruBridge worth $3,492,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TBRG. Federated Hermes Inc. raised its stake in shares of TruBridge by 3.1% during the 4th quarter. Federated Hermes Inc. now owns 468,758 shares of the company's stock valued at $9,244,000 after purchasing an additional 14,120 shares during the period. Truffle Hound Capital LLC purchased a new stake in shares of TruBridge in the fourth quarter worth about $5,916,000. Geode Capital Management LLC bought a new position in shares of TruBridge in the third quarter valued at approximately $1,747,000. JPMorgan Chase & Co. grew its stake in TruBridge by 73.4% during the third quarter. JPMorgan Chase & Co. now owns 112,240 shares of the company's stock valued at $1,342,000 after acquiring an additional 47,507 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in TruBridge by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,879 shares of the company's stock worth $1,457,000 after acquiring an additional 716 shares during the period. 88.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Stephens restated an "equal weight" rating and set a $28.00 price target on shares of TruBridge in a research report on Thursday, April 10th. Cantor Fitzgerald upped their target price on TruBridge from $20.00 to $29.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 11th.

Insider Activity at TruBridge

In other news, major shareholder Pinetree Capital Ltd. purchased 6,795 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were acquired at an average price of $28.16 per share, with a total value of $191,347.20. Following the acquisition, the insider now directly owns 729,176 shares in the company, valued at approximately $20,533,596.16. The trade was a 0.94 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher L. Fowler sold 5,100 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $27.02, for a total transaction of $137,802.00. Following the transaction, the chief executive officer now directly owns 142,939 shares of the company's stock, valued at approximately $3,862,211.78. This trade represents a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 116,728 shares of company stock valued at $3,239,879. Insiders own 10.70% of the company's stock.

TruBridge Price Performance

TBRG stock traded up $0.60 during mid-day trading on Wednesday, hitting $25.16. 14,825 shares of the stock were exchanged, compared to its average volume of 129,618. The business has a fifty day moving average price of $27.15 and a 200 day moving average price of $21.40. TruBridge, Inc. has a 12 month low of $7.61 and a 12 month high of $32.00. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.80 and a quick ratio of 1.78. The stock has a market capitalization of $376.12 million, a price-to-earnings ratio of -6.15, a PEG ratio of 5.38 and a beta of 0.64.

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.