TruBridge, Inc. (NASDAQ:TBRG) Short Interest Update

TruBridge, Inc. (NASDAQ:TBRG - Get Free Report) was the target of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 339,000 shares, an increase of 14.4% from the January 15th total of 296,200 shares. Based on an average trading volume of 89,700 shares, the short-interest ratio is presently 3.8 days. Currently, 2.4% of the shares of the stock are sold short.

Insider Transactions at TruBridge

In related news, major shareholder Pinetree Capital Ltd. bought 6,795 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average price of $28.16 per share, with a total value of $191,347.20. Following the completion of the purchase, the insider now directly owns 729,176 shares of the company's stock, valued at approximately $20,533,596.16. This trade represents a 0.94 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark V. Anquillare purchased 2,500 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average cost of $16.81 per share, for a total transaction of $42,025.00. Following the completion of the purchase, the director now directly owns 17,178 shares in the company, valued at $288,762.18. This represents a 17.03 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 84,276 shares of company stock valued at $2,303,598 in the last ninety days. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TruBridge

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TBRG. Hotchkis & Wiley Capital Management LLC acquired a new stake in TruBridge in the third quarter valued at approximately $5,934,000. Federated Hermes Inc. raised its holdings in shares of TruBridge by 3.1% in 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of TruBridge by 12.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 348,941 shares of the company's stock worth $6,881,000 after purchasing an additional 38,902 shares during the last quarter. Truffle Hound Capital LLC acquired a new position in shares of TruBridge during the fourth quarter worth $5,916,000. Finally, CacheTech Inc. purchased a new stake in TruBridge during the 3rd quarter worth about $2,875,000. Hedge funds and other institutional investors own 88.64% of the company's stock.

Analyst Ratings Changes

TBRG has been the topic of a number of research reports. Barclays raised their price objective on TruBridge from $10.00 to $14.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. Stephens raised their price target on shares of TruBridge from $13.00 to $17.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 20th.

TruBridge Trading Up 0.8 %

TBRG traded up $0.23 on Wednesday, hitting $28.48. The company had a trading volume of 148,514 shares, compared to its average volume of 128,744. The company's fifty day moving average price is $22.24 and its 200 day moving average price is $16.56. The firm has a market cap of $425.13 million, a P/E ratio of -7.00, a PEG ratio of 5.42 and a beta of 0.69. TruBridge has a 1 year low of $7.55 and a 1 year high of $29.27. The company has a current ratio of 1.80, a quick ratio of 1.78 and a debt-to-equity ratio of 1.00.

About TruBridge

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.