First Horizon Advisors Inc. Purchases New Position in TruBridge, Inc. (NASDAQ:TBRG)

First Horizon Advisors Inc. acquired a new position in TruBridge, Inc. (NASDAQ:TBRG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,739 shares of the company’s stock, valued at approximately $33,000.

Other institutional investors also recently bought and sold shares of the company. CacheTech Inc. purchased a new position in shares of TruBridge during the third quarter valued at $2,875,000. Rice Hall James & Associates LLC purchased a new position in TruBridge during the 3rd quarter valued at about $1,143,000. Cubist Systematic Strategies LLC bought a new stake in shares of TruBridge in the 2nd quarter valued at about $740,000. GSA Capital Partners LLP purchased a new stake in shares of TruBridge in the 3rd quarter worth approximately $389,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of TruBridge during the second quarter valued at approximately $297,000. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Mark V. Anquillare bought 2,500 shares of the 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 purchase, the director now directly owns 17,178 shares of the company’s stock, valued at approximately $288,762.18. This trade represents a 17.03 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Pinetree Capital Ltd. bought 3,997 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were bought at an average cost of $11.93 per share, for a total transaction of $47,684.21. Following the transaction, the insider now owns 603,997 shares in the company, valued at $7,205,684.21. The trade was a 0.67 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.60% of the company’s stock.

TruBridge Stock Up 2.4 %

TruBridge stock opened at $16.93 on Tuesday. The business has a fifty day moving average price of $13.33 and a 200-day moving average price of $11.73. TruBridge, Inc. has a 1-year low of $7.55 and a 1-year high of $17.14. The stock has a market capitalization of $252.76 million, a price-to-earnings ratio of -4.14, a PEG ratio of 36.76 and a beta of 0.61. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.80 and a quick ratio of 1.78.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TBRG. Barclays boosted their price objective 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. Royal Bank of Canada restated an “outperform” rating and set a $14.00 price objective on shares of TruBridge in a research note on Tuesday, September 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $13.00 target price on shares of TruBridge in a research note on Friday, October 4th. Finally, Stephens increased their price target on shares of TruBridge from $13.00 to $17.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th.

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.