Oppenheimer Asset Management Inc. Invests $309,000 in TruBridge, Inc. (NASDAQ:TBRG)

Oppenheimer Asset Management Inc. bought a new stake in shares of TruBridge, Inc. (NASDAQ:TBRG) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 25,815 shares of the company’s stock, valued at approximately $309,000. Oppenheimer Asset Management Inc. owned about 0.17% of TruBridge at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. GAMMA Investing LLC bought a new stake in TruBridge during the 3rd quarter valued at approximately $26,000. Covestor Ltd purchased a new position in TruBridge during the third quarter worth $28,000. Point72 DIFC Ltd bought a new position in TruBridge during the 2nd quarter valued at about $56,000. Leavell Investment Management Inc. purchased a new stake in shares of TruBridge in the third quarter worth approximately $203,000. Finally, Williams & Novak LLC purchased a new stake in TruBridge in the third quarter worth $234,000. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

TruBridge Stock Performance

Shares of TBRG stock opened at $16.52 on Thursday. The company has a quick ratio of 1.78, a current ratio of 1.80 and a debt-to-equity ratio of 1.00. TruBridge, Inc. has a 52-week low of $7.55 and a 52-week high of $16.62. The business has a 50-day simple moving average of $13.08 and a 200-day simple moving average of $11.53. The stock has a market cap of $246.56 million, a PE ratio of -4.04, a price-to-earnings-growth ratio of 7.46 and a beta of 0.61.

Insider Activity at TruBridge

In related news, major shareholder Pinetree Capital Ltd. purchased 3,997 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was bought at an average price of $11.93 per share, with a total value of $47,684.21. Following the acquisition, the insider now owns 603,997 shares in the company, valued at $7,205,684.21. The trade was a 0.67 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on TBRG shares. Barclays lifted their price target on shares of TruBridge from $10.00 to $14.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Royal Bank of Canada restated an “outperform” rating and issued a $14.00 price target on shares of TruBridge in a report on Tuesday, September 17th. Stephens upped their target price on TruBridge from $13.00 to $17.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $13.00 price target on shares of TruBridge in a research note on Friday, October 4th.

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.