Covestor Ltd Boosts Stock Position in TruBridge, Inc. (NASDAQ:TBRG)

Covestor Ltd grew its holdings in shares of TruBridge, Inc. (NASDAQ:TBRG) by 20.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,819 shares of the company’s stock after purchasing an additional 479 shares during the quarter. Covestor Ltd’s holdings in TruBridge were worth $56,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TBRG. AlphaQuest LLC purchased a new stake in TruBridge during the fourth quarter worth about $66,000. FMR LLC bought a new position in shares of TruBridge during the 3rd quarter valued at approximately $85,000. EMC Capital Management increased its stake in shares of TruBridge by 2,704.0% during the 4th quarter. EMC Capital Management now owns 5,608 shares of the company’s stock worth $111,000 after purchasing an additional 5,408 shares during the last quarter. Barclays PLC bought a new stake in shares of TruBridge in the 3rd quarter worth approximately $150,000. Finally, R Squared Ltd purchased a new position in TruBridge in the fourth quarter valued at approximately $154,000. 88.64% of the stock is currently owned by institutional investors.

Insider Activity

In other news, major shareholder Pinetree Capital Ltd. acquired 74,981 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $27.61 per share, for a total transaction of $2,070,225.41. Following the completion of the transaction, the insider now owns 693,981 shares of the company’s stock, valued at $19,160,815.41. The trade was a 12.11 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher L. Fowler sold 5,100 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 142,939 shares in the company, valued at $3,862,211.78. This trade represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders purchased 116,728 shares of company stock worth $3,239,879. 10.70% of the stock is owned by corporate insiders.

TruBridge Trading Down 0.7 %

Shares of TBRG stock opened at $24.22 on Tuesday. The stock has a market capitalization of $362.06 million, a price-to-earnings ratio of -5.92, a PEG ratio of 5.38 and a beta of 0.64. The company’s fifty day simple moving average is $27.40 and its two-hundred day simple moving average is $20.94. TruBridge, Inc. has a 1 year low of $7.61 and a 1 year high of $32.00. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.80 and a quick ratio of 1.78.

Analyst Ratings Changes

A number of research firms have issued reports on TBRG. Cantor Fitzgerald raised their target price on TruBridge from $20.00 to $29.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. Stephens reissued an “equal weight” rating and issued a $28.00 price objective on shares of TruBridge in a report on Thursday, April 10th.

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.