TruBridge, Inc. (NASDAQ:TBRG) Sees Significant Increase in Short Interest

TruBridge, Inc. (NASDAQ:TBRG - Get Free Report) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 564,400 shares, an increase of 20.2% from the March 15th total of 469,400 shares. Approximately 4.0% of the shares of the company are sold short. Based on an average daily trading volume, of 179,300 shares, the days-to-cover ratio is currently 3.1 days.

TruBridge Price Performance

Shares of NASDAQ:TBRG traded down $0.25 during mid-day trading on Friday, reaching $25.35. The stock had a trading volume of 52,630 shares, compared to its average volume of 129,437. The company has a market cap of $378.96 million, a P/E ratio of -6.20, a price-to-earnings-growth ratio of 5.38 and a beta of 0.64. The business's 50 day moving average price is $26.98 and its 200 day moving average price is $21.60. 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 has a 1 year low of $7.75 and a 1 year high of $32.00.

Analysts Set New Price Targets

TBRG has been the subject of a number of analyst reports. Stephens reiterated an "equal weight" rating and issued a $28.00 price target on shares of TruBridge in a research note on Thursday, April 10th. Cantor Fitzgerald increased 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.

Insiders Place Their Bets

In related news, CEO Christopher L. Fowler sold 5,100 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were 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 approximately $3,862,211.78. This represents a 3.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Pinetree Capital Ltd. bought 6,795 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $28.16 per share, for a total transaction of $191,347.20. Following the purchase, the insider now owns 729,176 shares in the company, valued at $20,533,596.16. This trade represents a 0.94 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 116,728 shares of company stock worth $3,239,879 over the last quarter. 10.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TBRG. Federated Hermes Inc. increased 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 purchasing an additional 14,120 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of TruBridge by 12.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 348,941 shares of the company's stock valued at $6,881,000 after buying an additional 38,902 shares in the last quarter. Truffle Hound Capital LLC bought a new position in shares of TruBridge in the 4th quarter valued at about $5,916,000. D. E. Shaw & Co. Inc. grew its position in TruBridge by 8.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 217,539 shares of the company's stock worth $4,290,000 after acquiring an additional 16,821 shares in the last quarter. Finally, Susquehanna International Group LLP grew its position in TruBridge by 343.6% in the fourth quarter. Susquehanna International Group LLP now owns 209,871 shares of the company's stock worth $4,139,000 after acquiring an additional 162,560 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors.

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.