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Buying Buzz: TruBridge Inc. [TBRG] 10% Owner Pinetree Capital Ltd. acquires 55,000 shares of the company

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The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. TruBridge Inc. shares valued at $578,050 were purchased by Pinetree Capital Ltd. on Jul 01 ’24. At $10.51 per share, Pinetree Capital Ltd. acquired 55,000 shares. The insider’s holdings grew to 1,624,545 shares worth approximately $18.34 million following the completion of this transaction.

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Also, Pinetree Capital Ltd. purchased 67,488 shares, netting a total of over 674,414 in proceeds. Following the buying of shares at $9.99 each, the insider now holds 1,569,545 shares.

Before that, Pinetree Capital Ltd. had added 14,084 shares to its account. In a trade valued at $136,911, the 10% Owner bought TruBridge Inc. shares for $9.72 each. Upon closing the transaction, the insider’s holdings increased to 14,084 shares, worth approximately $6.6 million.

As published in their initiating research note from RBC Capital Mkts on March 28, 2024, TruBridge Inc. [TBRG] has been an Outperform and the price target has been revised to $13. Analysts at Barclays started covering the stock with ‘”an Equal weight”‘ outlook in a report released in early January. As of August 15, 2023, Cantor Fitzgerald has initiated its “an Overweight” rating for TBRG. Earlier on April 12, 2023, Stephens initiated its rating. Their recommendation was “an Equal-weight” for TBRG stock.

Analyzing TBRG Stock Performance

During the last five days, there has been a surge of approximately 12.12%. Over the course of the year, TruBridge Inc. shares have jumped approximately 0.80%. Shares of the company reached a 52-week high of $11.45 on 01/02/24 and a 52-week low of $7.55 on 03/06/24. A 50-day SMA is recorded $9.38, while a 200-day SMA reached $10.74. Nevertheless, trading volume fell to 0.13 million shares from 0.3 million shares the previous day.

Support And Resistance Levels for TruBridge Inc. (TBRG)

According to the 24-hour chart, there is a support level at 10.78, which, if violated, would cause prices to drop to 10.36. In the upper region, resistance lies at 11.51. The next price resistance is at 11.83. RSI (Relative Strength Index) is 67.01 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.40, which suggests the price will decrease in the coming days. Percent R is at 13.07%, indicating bullish price movement. Stochastics%K at holding indicates that the stock is to be held.

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