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

During January, TruBridge, Inc. (NASDAQ:TBRG) experienced a notable rise in short interest. By the end of January, specifically on the 31st, short interest reached 339,000 shares, representing a 14.4% increase compared to the 296,200 shares recorded on January 15th. This change indicates that more investors are betting against the company's stock performance. With an average daily trading volume of 89,700 shares, the days-to-cover ratio for these shorted shares stands at approximately 3.8 days, meaning it would take that long for all short positions to be covered if buying resumes. Currently, around 2.4% of TruBridge's shares are sold short, reflecting a moderate level of short interest.

TruBridge Stock Performance

On the trading day of Friday, TruBridge's stock saw a slight increase, rising by $0.04 to reach a price of $28.17. In total, 117,852 shares were traded that day, which is close to the average trading volume of 123,176 shares. The company's market capitalization is approximately $420.58 million, and its P/E ratio currently shows a negative figure of -6.89. In terms of growth expectations, TruBridge’s P/E/G ratio is at 4.90, while its beta stands at 0.69, indicating lower volatility compared to the broader market. Financial metrics show a current ratio of 1.80 and a quick ratio of 1.78, both of which suggest solid liquidity. Furthermore, the debt-to-equity ratio is at 1.00. The stock has fluctuated within a 12-month low of $7.55 and a high of $28.58, which illustrates substantial growth over the past year.

Analyst Outlook for TruBridge

Several brokerages have released insights regarding TruBridge's stock. Recently, Stephens raised its price target from $13.00 to $17.00 while maintaining an "equal weight" rating for the shares in a research note dated November 20th. Similarly, Barclays adjusted its price target upwards, from $10.00 to $14.00, and also rated the stock as "equal weight" in a report published on November 11th.

Insider Transactions at TruBridge

In other developments regarding the company's shares, Director Mark V. Anquillare made a purchase on November 25th, acquiring 2,500 shares at an average price of $16.81 each for a total investment of $42,025. Following this acquisition, Anquillare now holds 17,178 shares of TruBridge, which are valued at around $288,762.18. This purchase is significant as it represents a substantial increase of 17.03% in the director's ownership stake. This information has been disclosed in a formal filing with the Securities and Exchange Commission. Corporate insiders currently hold 3.60% of TruBridge’s stock.

Institutional Investments in TruBridge

Recent activity among large investors shows a mixed interest in TruBridge shares. Notably, Charles Schwab Investment Management Inc. established a new stake in TruBridge valued at approximately $875,000 during the third quarter. GSA Capital Partners LLP also acquired a new position, investing about $389,000. Other significant institutional purchases include BNP Paribas Financial Markets at $161,000, Geode Capital Management LLC with a $1,747,000 stake, and State Street Corp, which invested around $829,000. Overall, institutional investors and hedge funds own about 88.64% of the company, indicating significant confidence from larger market players.

Overview of TruBridge

TruBridge, Inc. is a company focused on providing various healthcare solutions and services primarily aimed at community hospitals, clinics, and other healthcare systems both in the United States and internationally. The company's operations are divided into three main segments: Revenue Cycle Management (RCM), Electronic Health Record (EHR), and Patient Engagement. TruBridge emphasizes delivering RCM solutions that cater to multiple healthcare settings regardless of the primary provider of healthcare information solutions. In addition, the company offers extensive business management, consulting services, managed IT support, and analytics.

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