Short Interest in TruBridge, Inc. (NASDAQ:TBRG) Increases by 14.4%

TruBridge, Inc. (NASDAQ:TBRG) experienced a notable rise in short interest throughout January. As of January 31st, the short interest reached a total of 339,000 shares. This figure represents a 14.4% increase from the short interest of 296,200 shares recorded on January 15th. Given the average trading volume of 89,700 shares, the current days-to-cover ratio stands at 3.8 days. Currently, approximately 2.4% of the shares available from the company are sold short.

Performance of TruBridge Shares

On the last trading day, shares of TruBridge (NASDAQ:TBRG) saw an increase of $0.04, bringing the price to $28.17. During this period, 117,852 shares changed hands, compared to the average trading volume of 123,176 shares. The company's market capitalization is $420.58 million, with a PE ratio of -6.89, a P/E/G ratio of 4.90, and a beta value of 0.69. TruBridge also has a current ratio of 1.80, a quick ratio of 1.78, and a debt-to-equity ratio of 1.00. In terms of price movements, TruBridge has recorded a 12-month low of $7.55 and a 12-month high of $28.58.

Analyst Expectations for Future Growth

Many brokerage firms have provided updates regarding TruBridge's stock performance. For instance, Stephens raised their price target for share prices from $13.00 to $17.00 and assigned an "equal weight" rating on November 20th. Similarly, Barclays increased their price target for TruBridge shares from $10.00 to $14.00, maintaining an "equal weight" rating as well.

Insider Transactions at TruBridge

In other news concerning the company’s executives, Director Mark V. Anquillare acquired 2,500 shares of TruBridge on November 25th. The shares were bought at an average price of $16.81 each, totaling $42,025 for the transaction. Following this purchase, the director now holds 17,178 shares of TruBridge, valued at approximately $288,762.18, marking a 17.03% increase in their stock ownership. This transaction was reported in a legal filing with the Securities and Exchange Commission, which can be accessed for further details. Corporate insiders own about 3.60% of the company's stock.

TruBridge Institutional Investment Activity

Numerous institutional investors have recently changed their stances on shares of TruBridge. For example, Charles Schwab Investment Management Inc. made a new investment in TruBridge valued at approximately $875,000 during the third quarter. Other institutional investors include GSA Capital Partners LLP, which acquired a stake worth $389,000, and BNP Paribas Financial Markets that bought shares valued at $161,000. Geode Capital Management LLC also invested $1,747,000, while State Street Corp entered a new investment position worth $829,000 in TruBridge. In total, institutional investors and hedge funds own around 88.64% of TruBridge's stock.

Company Overview of TruBridge

TruBridge, Inc. specializes in offering healthcare solutions and services for community hospitals, clinics, and various healthcare systems both in the United States and internationally. The company operates through three main divisions: Revenue Cycle Management (RCM), Electronic Health Record (EHR), and Patient Engagement. Its primary focus is on delivering RCM solutions tailored for different healthcare scenarios, irrespective of the main healthcare information solutions provider, alongside services in business management, consulting, managed IT, and data analytics.

TruBridge, Stocks, Finance