TruBridge, Inc. (NASDAQ:TBRG) Major Shareholder Pinetree Capital Ltd. Buys 34,952 Shares

TruBridge, Inc. (NASDAQ:TBRG) major shareholder Pinetree Capital Ltd. bought 34,952 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average price of $27.99 per share, for a total transaction of $978,306.48. Following the completion of the acquisition, the insider now directly owns 768,250 shares in the company, valued at approximately $21,503,317.50. The trade was a 4.77 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 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 Tuesday, February 18th, Pinetree Capital Ltd. bought 6,795 shares of TruBridge stock. The stock was acquired at an average cost of $28.16 per share, with a total value of $191,347.20.
• On Thursday, February 13th, Pinetree Capital Ltd. bought 74,981 shares of TruBridge stock. The stock was acquired at an average cost of $27.61 per share, with a total value of $2,070,225.41.

TruBridge Stock Up 1.2 %

Shares of NASDAQ:TBRG traded up $0.34 on Friday, reaching $28.26. The company had a trading volume of 207,140 shares, compared to its average volume of 135,948. TruBridge, Inc. has a twelve month low of $7.55 and a twelve month high of $29.27. The stock has a 50-day moving average price of $22.63 and a 200 day moving average price of $16.72. The stock has a market capitalization of $421.92 million, a P/E ratio of -6.91, a P/E/G ratio of 5.49 and a beta of 0.69. The company has a quick ratio of 1.78, a current ratio of 1.80 and a debt-to-equity ratio of 1.00.

Analyst Ratings Changes

Several analysts have recently commented on TBRG shares. Stephens raised their target price on TruBridge from $13.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Barclays raised their target price on TruBridge from $10.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th.

Hedge Funds Weigh In On TruBridge

Institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. bought a new position in shares of TruBridge in the third quarter worth about $875,000. GSA Capital Partners LLP bought a new position in shares of TruBridge in the third quarter worth about $389,000. BNP Paribas Financial Markets bought a new position in shares of TruBridge in the third quarter worth about $161,000. Geode Capital Management LLC bought a new position in shares of TruBridge in the third quarter worth about $1,747,000. Finally, State Street Corp bought a new position in shares of TruBridge in the third quarter worth about $829,000. 88.64% of the stock is currently owned by institutional investors.

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.