Truffle Hound Capital LLC Cuts Holdings in TruBridge, Inc. (NASDAQ:TBRG)

Key Points

• Truffle Hound Capital LLC reduced its stake in TruBridge, Inc. by 43.3%, selling 130,000 shares to hold a total of 170,000 shares valued at approximately $4.68 million.
• Institutional investors own 88.64% of TruBridge, with several funds significantly increasing their positions, including a 343.6% increase by Susquehanna International Group.
• TruBridge reported $0.29 earnings per share for the latest quarter, missing estimates, while analysts forecast 0.07 earnings per share for the current year.

Truffle Hound Capital LLC lowered its stake in TruBridge, Inc. (NASDAQ:TBRG - Free Report) by 43.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,000 shares of the company's stock after selling 130,000 shares during the period. TruBridge accounts for 1.7% of Truffle Hound Capital LLC's holdings, making the stock its 15th largest holding. Truffle Hound Capital LLC owned approximately 1.14% of TruBridge worth $4,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its stake in shares of TruBridge by 47.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,170 shares of the company's stock valued at $43,000 after acquiring an additional 699 shares during the last quarter. Covestor Ltd raised its stake in shares of TruBridge by 20.5% during the fourth quarter. Covestor Ltd now owns 2,819 shares of the company's stock valued at $56,000 after acquiring an additional 479 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of TruBridge during the fourth quarter valued at $211,000. Two Sigma Securities LLC bought a new position in shares of TruBridge during the fourth quarter valued at $222,000. Finally, Kingsview Wealth Management LLC bought a new position in shares of TruBridge during the first quarter valued at $240,000. Institutional investors and hedge funds own 88.64% of the company's stock.

Insiders Place Their Bets

In related news, CEO Christopher L. Fowler sold 6,000 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $25.05, for a total transaction of $150,300.00. Following the transaction, the chief executive officer directly owned 131,090 shares in the company, valued at approximately $3,283,804.50. The trade was a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.70% of the company's stock.

Analyst Ratings Changes

Separately, Stephens reaffirmed an "equal weight" rating and set a $28.00 price target on shares of TruBridge in a research note on Thursday, April 10th.

TruBridge Stock Up 3.3%

TBRG traded up $0.68 during midday trading on Monday, hitting $21.22. The company had a trading volume of 112,560 shares, compared to its average volume of 159,254. TruBridge, Inc. has a 52 week low of $9.75 and a 52 week high of $32.00. The company has a quick ratio of 1.68, a current ratio of 1.69 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $318.79 million, a price-to-earnings ratio of -15.72 and a beta of 0.59. The stock's 50 day moving average price is $22.91 and its 200 day moving average price is $25.02.

TruBridge (NASDAQ:TBRG - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.08). The company had revenue of $87.21 million during the quarter, compared to the consensus estimate of $86.21 million. TruBridge had a negative net margin of 5.86% and a positive return on equity of 0.33%. On average, research analysts anticipate that TruBridge, Inc. will post 0.07 earnings per share for the current fiscal year.

TruBridge 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.