TruBridge, Inc. (NASDAQ:TBRG) Short Interest Up 14.4% in January

TruBridge, Inc. (NASDAQ:TBRG) was the target of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 339,000 shares, a growth of 14.4% from the January 15th total of 296,200 shares. Based on an average trading volume of 89,700 shares, the days-to-cover ratio is presently 3.8 days. Approximately 2.4% of the company’s shares are sold short.

TruBridge Stock Performance

TBRG stock opened at $28.17 on Monday. The company has a quick ratio of 1.78, a current ratio of 1.80 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $420.58 million, a price-to-earnings ratio of -6.89, a P/E/G ratio of 4.90 and a beta of 0.69. TruBridge has a 12 month low of $7.55 and a 12 month high of $28.58. The firm has a 50 day moving average of $21.84 and a two-hundred day moving average of $16.31.

Insider Activity

In other news, Director Mark V. Anquillare purchased 2,500 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were acquired at an average price of $16.81 per share, for a total transaction of $42,025.00. Following the completion of the acquisition, the director now directly owns 17,178 shares of the company’s stock, valued at $288,762.18. The trade was a 17.03 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.60% of the stock is owned by company insiders.

Institutional Trading of TruBridge

Several large investors have recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC bought a new stake in TruBridge in the third quarter worth approximately $5,934,000. Federated Hermes Inc. grew its position in TruBridge by 3.1% in the fourth quarter. Federated Hermes Inc. now owns 468,758 shares of the company’s stock worth $9,244,000 after acquiring an additional 14,120 shares in the last quarter. Dimensional Fund Advisors LP grew its position in TruBridge by 12.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 348,941 shares of the company’s stock worth $6,881,000 after acquiring an additional 38,902 shares in the last quarter. Truffle Hound Capital LLC bought a new stake in TruBridge in the fourth quarter worth approximately $5,916,000. Finally, CacheTech Inc. bought a new stake in shares of TruBridge during the 3rd quarter worth $2,875,000. 88.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Stephens upped their price objective on shares of TruBridge from $13.00 to $17.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Barclays upped their price objective on shares of TruBridge from $10.00 to $14.00 and gave the company an “equal weight” rating in a research note on Monday, November 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.