Pinetree Capital Ltd. Acquires 34,952 Shares of TruBridge, Inc. (NASDAQ:TBRG) Stock

TruBridge, Inc. (NASDAQ:TBRG) major shareholder Pinetree Capital Ltd. acquired 34,952 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was bought at an average cost of $27.99 per share, for a total transaction of $978,306.48. Following the completion of the transaction, the insider now directly owns 768,250 shares of the company’s stock, valued at $21,503,317.50. This trade represents a 4.77 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock 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. acquired 6,795 shares of TruBridge stock. The stock was bought at an average cost of $28.16 per share, for a total transaction of $191,347.20.
• On Thursday, February 13th, Pinetree Capital Ltd. acquired 74,981 shares of TruBridge stock. The stock was bought at an average cost of $27.61 per share, for a total transaction of $2,070,225.41.

TruBridge Stock Up 1.2 %

Shares of TruBridge stock opened at $28.26 on Friday. The business has a 50-day moving average of $22.83 and a 200-day moving average of $16.89. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.80 and a quick ratio of 1.78. The company has a market capitalization of $421.92 million, a PE ratio of -6.91, a P/E/G ratio of 5.38 and a beta of 0.69. TruBridge, Inc. has a 1-year low of $7.55 and a 1-year high of $29.27.

Wall Street Analysts Forecast Growth

Several research firms have commented on TBRG. Stephens raised their price objective on TruBridge from $13.00 to $17.00 and gave the company 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 company an “equal weight” rating in a research note on Monday, November 11th.

Institutional Trading of TruBridge

Large investors have recently modified their holdings of the business. Covestor Ltd grew its stake in TruBridge by 20.5% in the fourth quarter. Covestor Ltd now owns 2,819 shares of the company’s stock worth $56,000 after purchasing an additional 479 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in TruBridge by 2.0% in the fourth quarter. Cubist Systematic Strategies LLC now owns 26,202 shares of the company’s stock worth $517,000 after purchasing an additional 514 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in TruBridge by 47.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,170 shares of the company’s stock worth $43,000 after purchasing an additional 699 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in TruBridge by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,879 shares of the company’s stock worth $1,457,000 after purchasing an additional 716 shares in the last quarter. Finally, Trexquant Investment LP grew its stake in TruBridge by 14.4% in the fourth quarter. Trexquant Investment LP now owns 16,760 shares of the company’s stock worth $331,000 after purchasing an additional 2,112 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

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.