TruBridge, Inc. (NASDAQ:TBRG) Stock Position Decreased by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. reduced its stake in TruBridge, Inc. (NASDAQ:TBRG) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,867 shares of the company’s stock after selling 572 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in TruBridge were worth $333,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Barclays PLC bought a new stake in shares of TruBridge in the 3rd quarter worth approximately $150,000. JPMorgan Chase & Co. boosted its holdings in shares of TruBridge by 73.4% during the third quarter. JPMorgan Chase & Co. now owns 112,240 shares of the company’s stock valued at $1,342,000 after acquiring an additional 47,507 shares during the period. R Squared Ltd bought a new position in shares of TruBridge during the fourth quarter worth about $154,000. EMC Capital Management increased its holdings in shares of TruBridge by 2,704.0% in the 4th quarter. EMC Capital Management now owns 5,608 shares of the company’s stock worth $111,000 after acquiring an additional 5,408 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in shares of TruBridge in the 4th quarter worth about $286,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Christopher L. Fowler sold 5,100 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $27.02, for a total transaction of $137,802.00. Following the completion of the sale, the chief executive officer now directly owns 142,939 shares of the company’s stock, valued at $3,862,211.78. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Pinetree Capital Ltd. purchased 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, with a total value of $978,306.48. Following the transaction, the insider now directly owns 768,250 shares in the company, valued at $21,503,317.50. This trade represents a 4.77% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 10.70% of the company’s stock.

TruBridge Trading Down 1.0%

Shares of TruBridge stock opened at $24.50 on Friday. The business has a fifty day simple moving average of $26.10 and a 200-day simple moving average of $22.82. The firm has a market cap of $368.06 million, a price-to-earnings ratio of -5.99, a price-to-earnings-growth ratio of 5.38 and a beta of 0.65. TruBridge, Inc. has a fifty-two week low of $8.80 and a fifty-two week high of $32.00. The company has a quick ratio of 1.78, a current ratio of 1.80 and a debt-to-equity ratio of 1.00.

TruBridge (NASDAQ:TBRG) last issued its quarterly earnings results on Friday, May 9th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.08). TruBridge had a negative net margin of 17.72% and a positive return on equity of 1.78%. The business had revenue of $87.21 million during the quarter, compared to analyst estimates of $86.21 million. On average, equities analysts forecast that TruBridge, Inc. will post 0.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TBRG has been the topic of several recent analyst reports. Stephens reaffirmed an “equal weight” rating and set a $28.00 target price on shares of TruBridge in a research note on Thursday, April 10th. Cantor Fitzgerald increased their price objective on shares of TruBridge from $20.00 to $29.00 and gave the company an “overweight” rating in a 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.