Hotchkis & Wiley Capital Management LLC Invests $5.93 Million in TruBridge, Inc. (NASDAQ:TBRG)

Hotchkis & Wiley Capital Management LLC purchased a new stake in TruBridge, Inc. (NASDAQ:TBRG - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 496,150 shares of the company's stock, valued at approximately $5,934,000. Hotchkis & Wiley Capital Management LLC owned approximately 3.32% of TruBridge as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. CacheTech Inc. acquired a new position in TruBridge during the third quarter worth $2,875,000. Rice Hall James & Associates LLC acquired a new position in shares of TruBridge during the 3rd quarter worth $1,143,000. Cubist Systematic Strategies LLC purchased a new stake in shares of TruBridge in the 2nd quarter worth about $740,000. Walleye Capital LLC purchased a new position in TruBridge during the 3rd quarter valued at about $884,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in TruBridge during the third quarter worth about $875,000. Hedge funds and other institutional investors own 88.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TBRG. Cantor Fitzgerald reissued an "overweight" rating and set a $13.00 price objective on shares of TruBridge in a research note on Friday, October 4th. Barclays increased their price objective on TruBridge from $10.00 to $14.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. Royal Bank of Canada reissued an "outperform" rating and issued a $14.00 target price on shares of TruBridge in a research note on Tuesday, September 17th. Finally, Stephens lifted their price target 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.

Insider Buying and Selling at TruBridge

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

TruBridge Trading Up 1.3 %

Shares of TBRG traded up $0.23 during mid-day trading on Friday, reaching $18.32. The company had a trading volume of 82,107 shares, compared to its average volume of 142,810. The stock has a market cap of $273.43 million, a price-to-earnings ratio of -4.42, a price-to-earnings-growth ratio of 40.00 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. The firm has a fifty day simple moving average of $14.25 and a 200-day simple moving average of $12.18. TruBridge, Inc. has a fifty-two week low of $7.55 and a fifty-two week high of $18.74.

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.