Renaissance Technologies LLC Takes $335,000 Position in TruBridge, Inc. (NASDAQ:TBRG)

Renaissance Technologies LLC acquired a new position in shares of TruBridge, Inc. (NASDAQ:TBRG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,976 shares of the company's stock, valued at approximately $335,000. Renaissance Technologies LLC owned about 0.11% of TruBridge at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. AlphaQuest LLC bought a new position in TruBridge in the fourth quarter valued at approximately $66,000. EMC Capital Management grew its position 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 buying an additional 5,408 shares during the period. R Squared Ltd bought a new stake in shares of TruBridge in the 4th quarter valued at about $154,000. Barclays PLC bought a new position in TruBridge during the 3rd quarter worth approximately $150,000. Finally, Proficio Capital Partners LLC acquired a new position in TruBridge during the fourth quarter valued at approximately $286,000. Institutional investors and hedge funds own 88.64% of the company's stock.

Insider Activity at TruBridge

In other TruBridge news, major shareholder Pinetree Capital Ltd. acquired 6,795 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were acquired at an average price of $28.16 per share, with a total value of $191,347.20. Following the completion of the transaction, the insider now owns 729,176 shares in the company, valued at approximately $20,533,596.16. This trade represents a 0.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Christopher L. Fowler sold 5,100 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $27.02, for a total value 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 disclosure for this sale can be found here. Insiders have purchased 116,728 shares of company stock worth $3,239,879 in the last quarter. Company insiders own 10.70% of the company's stock.

TruBridge Stock Performance

Shares of TruBridge stock traded down $0.50 during trading on Thursday, reaching $25.00. The company's stock had a trading volume of 395,070 shares, compared to its average volume of 129,919. 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 business's 50-day moving average price is $26.42 and its 200-day moving average price is $22.40. TruBridge, Inc. has a 52 week low of $8.09 and a 52 week high of $32.00. The firm has a market cap of $373.73 million, a PE ratio of -6.11, a P/E/G ratio of 5.38 and a beta of 0.65.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TBRG shares. Cantor Fitzgerald boosted their price target on shares of TruBridge from $20.00 to $29.00 and gave the company an "overweight" rating in a report on Tuesday, March 11th. Stephens reaffirmed an "equal weight" rating and set a $28.00 price target on shares of TruBridge in a research 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.