Short Interest in TruBridge, Inc. (NASDAQ:TBRG) Expands By 20.2%

TruBridge, Inc. (NASDAQ:TBRG - Get Free Report) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totalling 564,400 shares, a growth of 20.2% from the March 15th total of 469,400 shares. Currently, 4.0% of the company's shares are sold short. Based on an average daily trading volume, of 179,300 shares, the short-interest ratio is presently 3.1 days.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, CEO Christopher L. Fowler sold 5,100 shares of the 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 owns 142,939 shares of the company's stock, valued at $3,862,211.78. This represents a 3.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Pinetree Capital Ltd. bought 6,795 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $28.16 per share, with a total value of $191,347.20. Following the completion of the transaction, the insider now directly owns 729,176 shares in the company, valued at $20,533,596.16. This represents a 0.94 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 116,728 shares of company stock worth $3,239,879. Corporate insiders own 10.70% of the company's stock.

Institutional Investors Weigh In On TruBridge

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC purchased a new stake in TruBridge in the third quarter worth $85,000. State Street Corp purchased a new stake in shares of TruBridge in the third quarter worth $829,000. Jane Street Group LLC purchased a new position in TruBridge in the third quarter worth about $400,000. Barclays PLC bought a new position in TruBridge in the 3rd quarter valued at approximately $150,000. Finally, Geode Capital Management LLC purchased a new stake in shares of TruBridge during the third quarter valued at $1,747,000. 88.64% of the stock is currently owned by institutional investors.

TruBridge Trading Up 2.6 %

Shares of TruBridge stock traded up $0.66 during trading on Thursday, reaching $25.60. The company's stock had a trading volume of 62,973 shares, compared to its average volume of 129,747. 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 company has a market cap of $382.69 million, a price-to-earnings ratio of -6.26, a PEG ratio of 5.38 and a beta of 0.64. The firm's 50-day moving average is $27.03 and its two-hundred day moving average is $21.51. TruBridge has a 52-week low of $7.61 and a 52-week high of $32.00.

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.