Y Intercept Hong Kong Ltd Trims Holdings in TruBridge, Inc. $TBRG

Y Intercept Hong Kong Ltd lowered its stake in shares of TruBridge, Inc. (NASDAQ:TBRG) by 86.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,342 shares of the company’s stock after selling 66,157 shares during the period. Y Intercept Hong Kong Ltd’s holdings in TruBridge were worth $209,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Millennium Management LLC raised its holdings in shares of TruBridge by 20.9% during the 1st quarter. Millennium Management LLC now owns 226,172 shares of the company’s stock worth $6,224,000 after acquiring an additional 39,090 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in TruBridge during the first quarter worth about $221,000. Goldman Sachs Group Inc. raised its stake in TruBridge by 31.8% during the first quarter. Goldman Sachs Group Inc. now owns 152,668 shares of the company’s stock worth $4,201,000 after purchasing an additional 36,838 shares during the period. AlphaQuest LLC boosted its holdings in TruBridge by 280.0% in the 2nd quarter. AlphaQuest LLC now owns 24,037 shares of the company’s stock valued at $563,000 after purchasing an additional 17,712 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of TruBridge in the 2nd quarter valued at approximately $1,517,000. 88.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Michael Daughton purchased 17,500 shares of the business’s stock in a transaction on Monday, November 17th. The shares were bought at an average price of $20.46 per share, for a total transaction of $358,050.00. Following the acquisition, the insider directly owned 57,492 shares in the company, valued at $1,176,286.32. This trade represents a 43.76% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Pinetree Capital Ltd. acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was bought at an average price of $23.00 per share, with a total value of $230,000.00. Following the purchase, the insider directly owned 2,130,000 shares in the company, valued at approximately $48,990,000. This trade represents a 0.47% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 273,890 shares of company stock worth $5,848,526 in the last ninety days. Corporate insiders own 10.70% of the company’s stock.

TruBridge Stock Performance

Shares of TruBridge stock opened at $20.82 on Friday. The stock has a market capitalization of $312.51 million, a price-to-earnings ratio of 109.58 and a beta of 0.64. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.91 and a quick ratio of 1.90. The business has a 50-day moving average of $21.72 and a 200 day moving average of $20.87. TruBridge, Inc. has a 12 month low of $17.86 and a 12 month high of $32.00.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on TBRG shares. Wall Street Zen raised shares of TruBridge from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 18th. Weiss Ratings restated a “sell (e+)” rating on shares of TruBridge in a research report on Wednesday, January 28th. BMO Capital Markets assumed coverage on TruBridge in a report on Thursday, November 13th. They set a “market perform” rating and a $19.50 price target for the company. Royal Bank Of Canada started coverage on TruBridge in a research report on Friday, January 9th. They set a “sector perform” rating and a $23.00 price objective for the company. Finally, Zacks Research raised shares of TruBridge from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, TruBridge presently has an average rating of “Hold” and a consensus target price of $24.88.

TruBridge Company Profile

TruBridge, Inc is a technology solutions provider specializing in digital transformation and managed services for enterprise clients. The company focuses on helping organizations modernize and optimize their IT environments by leveraging cloud technologies, collaboration platforms, and security solutions. TruBridge’s core business activities include consulting, implementation, migration, training and ongoing support for Microsoft 365, Azure and related cloud services.

TruBridge offers a comprehensive suite of services designed to guide clients through every stage of their cloud adoption journey.