Insider Buying: TruBridge, Inc. (NASDAQ:TBRG) Major Shareholder Acquires $578,050.00 in Stock

TruBridge, Inc. (NASDAQ:TBRG) major shareholder Pinetree Capital Ltd. bought 55,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was purchased at an average price of $10.51 per share, for a total transaction of $578,050.00. Following the transaction, the insider now owns 1,624,545 shares of the company’s stock, valued at $17,073,967.95. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% 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 Friday, June 28th, Pinetree Capital Ltd. acquired 67,488 shares of TruBridge stock. The shares were acquired at an average price of $9.99 per share, with a total value of $674,205.12.
• On Wednesday, June 5th, Pinetree Capital Ltd. acquired 14,084 shares of TruBridge stock. The stock was acquired at an average price of $9.72 per share, for a total transaction of $136,896.48.
• On Monday, June 3rd, Pinetree Capital Ltd. bought 2,568 shares of TruBridge stock. The shares were acquired at an average price of $9.44 per share, with a total value of $24,241.92.
• On Friday, May 10th, Pinetree Capital Ltd. purchased 11,789 shares of TruBridge stock. The shares were bought at an average cost of $8.53 per share, for a total transaction of $100,560.17.

TruBridge Stock Performance

TBRG opened at $11.19 on Friday. The firm has a fifty day moving average price of $9.53. The stock has a market capitalization of $167.96 million, a PE ratio of -3.17 and a beta of 0.65. TruBridge, Inc. has a fifty-two week low of $7.55 and a fifty-two week high of $26.73. The company has a quick ratio of 1.93, a current ratio of 1.95 and a debt-to-equity ratio of 0.98.

TruBridge (NASDAQ:TBRG) last announced its quarterly earnings results on Friday, May 10th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). The business had revenue of $83.25 million during the quarter, compared to analysts’ expectations of $82.35 million. TruBridge had a negative net margin of 15.27% and a positive return on equity of 8.44%. On average, equities research analysts forecast that TruBridge, Inc. will post 0.95 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TBRG. Cantor Fitzgerald reissued an “overweight” rating and issued a $24.00 price objective on shares of TruBridge in a report on Wednesday, April 10th. Royal Bank of Canada initiated coverage on TruBridge in a report on Thursday, March 28th. They issued an “outperform” rating and a $13.00 price target for the company.

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.