Invenomic Capital Management LP Decreases Stock Holdings in TruBridge, Inc. (NASDAQ:TBRG)

Invenomic Capital Management LP lowered its position in shares of TruBridge, Inc. (NASDAQ:TBRG - Free Report) by 63.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 72,483 shares of the company's stock after selling 125,191 shares during the quarter. Invenomic Capital Management LP owned 0.49% of TruBridge worth $1,429,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Barclays PLC purchased a new position in shares of TruBridge in the third quarter worth $150,000. JPMorgan Chase & Co. lifted its holdings in shares of TruBridge by 73.4% in the third quarter. JPMorgan Chase & Co. now owns 112,240 shares of the company's stock worth $1,342,000 after buying an additional 47,507 shares in the last quarter. R Squared Ltd purchased a new position in shares of TruBridge in the fourth quarter worth $154,000. EMC Capital Management lifted its holdings in shares of TruBridge by 2,704.0% in the fourth quarter. EMC Capital Management now owns 5,608 shares of the company's stock worth $111,000 after buying an additional 5,408 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in TruBridge in the fourth quarter worth $286,000. Hedge funds and other institutional investors own 88.64% of the company's stock.

TruBridge Price Performance

TBRG traded down $0.25 during trading hours on Thursday, hitting $24.50. The company's stock had a trading volume of 95,619 shares, compared to its average volume of 128,422. The business's 50-day moving average price is $26.15 and its 200-day moving average price is $22.74. TruBridge, Inc. has a 12 month low of $8.79 and a 12 month high of $32.00. The stock has a market cap of $366.25 million, a price-to-earnings ratio of -5.99, a P/E/G ratio of 5.38 and a beta of 0.65. The company has a current ratio of 1.80, a quick ratio of 1.78 and a debt-to-equity ratio of 1.00.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TBRG shares. Stephens restated an "equal weight" rating and issued a $28.00 price target on shares of TruBridge in a research report on Thursday, April 10th. Cantor Fitzgerald boosted their price target on shares of TruBridge from $20.00 to $29.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 11th.

Insider Buying and Selling at TruBridge

In other news, CEO Christopher L. Fowler sold 5,100 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $27.02, for a total value of $137,802.00. Following the transaction, the chief executive officer now directly owns 142,939 shares in the company, valued at approximately $3,862,211.78. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Pinetree Capital Ltd. purchased 34,952 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was bought at an average price of $27.99 per share, for a total transaction of $978,306.48. Following the completion of the acquisition, the insider now owns 768,250 shares of the company's stock, valued at approximately $21,503,317.50. The trade was a 4.77% increase in their position. The disclosure for this purchase can be found here. Company insiders own 10.70% of the company's stock.

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.