Walleye Capital LLC Cuts Stake in TruBridge, Inc. (NASDAQ:TBRG)

Walleye Capital LLC reduced its stake in shares of TruBridge, Inc. (NASDAQ:TBRG - Free Report) by 77.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,919 shares of the company's stock after selling 57,002 shares during the quarter. Walleye Capital LLC owned about 0.11% of TruBridge worth $334,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Covestor Ltd increased its position in TruBridge by 20.5% in the 4th 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 period. AlphaQuest LLC purchased a new stake in shares of TruBridge during the fourth quarter worth approximately $66,000. EMC Capital Management lifted its holdings in shares of TruBridge by 2,704.0% during the fourth 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 period. Barclays PLC purchased a new position in TruBridge in the 3rd quarter valued at $150,000. Finally, R Squared Ltd acquired a new position in TruBridge in the 4th quarter valued at $154,000. Hedge funds and other institutional investors own 88.64% of the company's stock.

Insider Buying and Selling

In other TruBridge news, CEO Christopher L. Fowler sold 5,100 shares of TruBridge 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. The trade was a 3.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Pinetree Capital Ltd. purchased 74,981 shares of the stock in a transaction on Thursday, February 13th. The stock was acquired at an average price of $27.61 per share, with a total value of $2,070,225.41. Following the acquisition, the insider now directly owns 693,981 shares in the company, valued at $19,160,815.41. This trade represents a 12.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 116,728 shares of company stock valued at $3,239,879. 10.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

TruBridge Price Performance

Shares of NASDAQ:TBRG traded down $0.02 on Wednesday, reaching $26.03. 87,836 shares of the company were exchanged, compared to its average volume of 129,009. 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, Inc. has a 1-year low of $7.75 and a 1-year high of $32.00. The company has a 50-day moving average of $26.83 and a 200-day moving average of $21.87. The firm has a market cap of $389.12 million, a price-to-earnings ratio of -6.36, a price-to-earnings-growth ratio of 5.38 and a beta of 0.64.

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.