Invenomic Capital Management LP Buys Shares of 197,674 TruBridge, Inc. (NASDAQ:TBRG)

Invenomic Capital Management LP acquired a new stake in shares of TruBridge, Inc. (NASDAQ:TBRG - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 197,674 shares of the company's stock, valued at approximately $2,364,000. Invenomic Capital Management LP owned about 1.32% of TruBridge as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in shares of TruBridge in the 3rd quarter worth approximately $26,000. Covestor Ltd purchased a new stake in TruBridge during the third quarter valued at approximately $28,000. First Horizon Advisors Inc. bought a new position in TruBridge in the third quarter worth approximately $33,000. Point72 DIFC Ltd purchased a new position in shares of TruBridge during the 2nd quarter worth $56,000. Finally, FMR LLC bought a new stake in shares of TruBridge during the 3rd quarter valued at $85,000. Institutional investors own 88.64% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Activity at TruBridge

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

TruBridge Price Performance

NASDAQ:TBRG traded up $0.42 on Wednesday, reaching $18.42. 23,304 shares of the company's stock traded hands, compared to its average volume of 143,247. The firm has a market cap of $275.01 million, a PE ratio of -4.40, a P/E/G ratio of 40.22 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 has a 50-day simple moving average of $14.00 and a 200-day simple moving average of $12.10. TruBridge, Inc. has a 12 month low of $7.55 and a 12 month high of $18.64.

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.