Insider Buying: TruBridge (NASDAQ:TBRG) Major Shareholder Acquires $1,022,400.00 in Stock

TruBridge, Inc. (NASDAQ:TBRG) major shareholder Pinetree Capital Ltd. purchased 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was bought at an average cost of $22.72 per share, with a total value of $1,022,400.00. Following the acquisition, the insider owned 2,120,000 shares of the company’s stock, valued at approximately $48,166,400. The trade was a 2.17% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Pinetree Capital Ltd. also recently made the following trade(s):

• On Wednesday, December 3rd, Pinetree Capital Ltd. acquired 10,000 shares of TruBridge stock. The shares were bought at an average cost of $23.00 per share, for a total transaction of $230,000.00.
• On Monday, December 1st, Pinetree Capital Ltd. bought 75,000 shares of TruBridge stock. The stock was bought at an average price of $22.40 per share, with a total value of $1,680,000.00.
• On Wednesday, November 19th, Pinetree Capital Ltd. bought 8,501 shares of TruBridge stock. The stock was bought at an average cost of $20.70 per share, with a total value of $175,970.70.
• On Wednesday, November 19th, Pinetree Capital Ltd. purchased 8,501 shares of TruBridge stock. The shares were purchased at an average cost of $20.70 per share, for a total transaction of $175,970.70.
• On Tuesday, November 18th, Pinetree Capital Ltd. acquired 3,639 shares of TruBridge stock. The stock was purchased at an average cost of $20.84 per share, with a total value of $75,836.76.
• On Tuesday, November 18th, Pinetree Capital Ltd. acquired 3,639 shares of TruBridge stock. The shares were purchased at an average price of $20.84 per share, with a total value of $75,836.76.
• On Monday, November 17th, Pinetree Capital Ltd. bought 20,707 shares of TruBridge stock. The stock was purchased at an average price of $20.42 per share, for a total transaction of $422,836.94.
• On Friday, November 14th, Pinetree Capital Ltd. purchased 18,933 shares of TruBridge stock. The stock was purchased at an average cost of $20.23 per share, with a total value of $383,014.59.
• On Thursday, November 13th, Pinetree Capital Ltd. purchased 21,035 shares of TruBridge stock. The shares were purchased at an average price of $20.41 per share, with a total value of $429,324.35.
• On Wednesday, November 12th, Pinetree Capital Ltd. acquired 8,935 shares of TruBridge stock. The stock was acquired at an average price of $19.94 per share, for a total transaction of $178,163.90.

TruBridge Trading Down 2.4%

Shares of TruBridge stock opened at $23.02 on Friday. The stock has a 50 day moving average of $20.47 and a 200 day moving average of $21.39. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.90 and a current ratio of 1.91. The firm has a market capitalization of $345.53 million, a price-to-earnings ratio of 121.16 and a beta of 0.59. TruBridge, Inc. has a fifty-two week low of $17.71 and a fifty-two week high of $32.00.

TruBridge (NASDAQ:TBRG) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.40 by $0.48. The business had revenue of $86.11 million for the quarter, compared to analyst estimates of $85.56 million. TruBridge had a return on equity of 12.23% and a net margin of 0.85%. As a group, research analysts predict that TruBridge, Inc. will post 0.07 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc acquired a new stake in TruBridge in the 2nd quarter valued at about $26,000. First Horizon Corp purchased a new stake in shares of TruBridge during the third quarter worth approximately $42,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in TruBridge in the second quarter valued at approximately $59,000. New York State Common Retirement Fund purchased a new position in TruBridge in the second quarter worth approximately $101,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in TruBridge in the second quarter worth approximately $128,000. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TBRG shares. BMO Capital Markets started coverage on shares of TruBridge in a research note on Thursday, November 13th. They set a “market perform” rating and a $19.50 target price for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of TruBridge in a report on Friday, October 31st. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, TruBridge presently has an average rating of “Hold” and an average target price of $25.50.

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.