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

TruBridge, Inc. (NASDAQ:TBRG) was the target of a large growth in short interest in the month of 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. Based on an average daily trading volume, of 179,300 shares, the days-to-cover ratio is presently 3.1 days. Currently, 4.0% of the shares of the stock are short sold.

TruBridge Price Performance

Shares of NASDAQ TBRG opened at $24.29 on Monday. The company has a market capitalization of $363.04 million, a price-to-earnings ratio of -5.94, a PEG ratio of 5.38 and a beta of 0.64. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.80 and a quick ratio of 1.78. TruBridge has a 1-year low of $7.61 and a 1-year high of $32.00. The business has a 50-day moving average of $27.27 and a 200-day moving average of $21.29.

Insider Activity

In other TruBridge news, major shareholder Pinetree Capital Ltd. acquired 6,795 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $28.16 per share, with a total value of $191,347.20. Following the purchase, the insider now owns 729,176 shares in the company, valued at approximately $20,533,596.16. The trade was a 0.94 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Christopher L. Fowler sold 5,100 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $27.02, for a total value of $137,802.00. Following the completion of the sale, the chief executive officer now directly owns 142,939 shares in the company, valued at approximately $3,862,211.78. The trade was a 3.45 % decrease in their position. The disclosure for this sale can be found here. Insiders acquired 116,728 shares of company stock valued at $3,239,879 in the last three months. 10.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TBRG. Tower Research Capital LLC TRC boosted its holdings in TruBridge by 47.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,170 shares of the company’s stock valued at $43,000 after purchasing an additional 699 shares during the last quarter. Covestor Ltd raised its holdings in TruBridge by 20.5% in the fourth quarter. Covestor Ltd now owns 2,819 shares of the company’s stock valued at $56,000 after acquiring an additional 479 shares in the last quarter. AlphaQuest LLC acquired a new position in TruBridge during the 4th quarter worth $66,000. FMR LLC acquired a new stake in shares of TruBridge in the 3rd quarter valued at about $85,000. Finally, EMC Capital Management grew its stake in TruBridge by 2,704.0% in the fourth quarter. EMC Capital Management now owns 5,608 shares of the company’s stock worth $111,000 after purchasing an additional 5,408 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TBRG has been the topic of several research analyst reports. Stephens reissued an “equal weight” rating and issued a $28.00 target price on shares of TruBridge in a research report on Thursday, April 10th. Cantor Fitzgerald boosted their price target on TruBridge from $20.00 to $29.00 and gave the company an “overweight” rating in a research report on Tuesday, March 11th.

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.