Adams Wealth Management Sells 63,362 Shares of TruBridge, Inc. (NASDAQ:TBRG)

Adams Wealth Management lowered its position in shares of TruBridge, Inc. (NASDAQ:TBRG) by 26.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 177,036 shares of the company’s stock after selling 63,362 shares during the period. Adams Wealth Management’s holdings in TruBridge were worth $3,492,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TBRG. Federated Hermes Inc. increased its position in shares of 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. Truffle Hound Capital LLC bought a new position in shares of TruBridge in the 4th quarter worth $5,916,000. Geode Capital Management LLC purchased a new stake in shares of TruBridge during the 3rd quarter valued at $1,747,000. JPMorgan Chase & Co. raised its position in TruBridge by 73.4% during the third quarter. JPMorgan Chase & Co. now owns 112,240 shares of the company’s stock valued at $1,342,000 after purchasing an additional 47,507 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in TruBridge by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,879 shares of the company’s stock worth $1,457,000 after buying an additional 716 shares during the last quarter. Institutional investors own 88.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TBRG. Cantor Fitzgerald lifted their price target on shares of TruBridge from $20.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Stephens reissued an “equal weight” rating and issued a $28.00 price target on shares of TruBridge in a report on Thursday, April 10th.

TruBridge Price Performance

Shares of TruBridge stock opened at $24.31 on Friday. The business has a 50 day moving average of $27.33 and a 200 day moving average of $21.07. TruBridge, Inc. has a 52 week low of $7.61 and a 52 week high of $32.00. The company has a market cap of $363.41 million, a PE ratio of -5.94, a P/E/G ratio of 5.38 and a beta of 0.64. The company has a quick ratio of 1.78, a current ratio of 1.80 and a debt-to-equity ratio of 1.00.

Insider Buying and Selling at TruBridge

In other news, major shareholder Pinetree Capital Ltd. purchased 34,952 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were bought at an average cost of $27.99 per share, for a total transaction of $978,306.48. Following the completion of the transaction, the insider now directly owns 768,250 shares of the company’s stock, valued at $21,503,317.50. This trade represents a 4.77 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher L. Fowler sold 5,100 shares of the 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 transaction, the chief executive officer now owns 142,939 shares of the company’s stock, valued at approximately $3,862,211.78. This trade represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 116,728 shares of company stock valued at $3,239,879. 10.70% of the stock is currently owned by company insiders.

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.