Insider Buying: PRGX Global Inc. (PRGX) Major Shareholder Buys 22,500 Shares of Stock
PRGX Global Inc. (NASDAQ:PRGX) major shareholder Strategic Opportunit Headlands bought 22,500 shares of PRGX Global stock in a transaction dated Monday, October 3rd. The shares were bought at an average price of $4.70 per share, for a total transaction of $105,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
PRGX Global Inc. (NASDAQ:PRGX) traded up 1.24% during midday trading on Tuesday, hitting $4.89. 8,795 shares of the company were exchanged. The firm’s 50-day moving average price is $4.83 and its 200-day moving average price is $4.91. The stock’s market capitalization is $106.75 million. PRGX Global Inc. has a one year low of $3.04 and a one year high of $5.81.
PRGX Global (NASDAQ:PRGX) last released its earnings results on Tuesday, July 26th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.06 by $0.09. PRGX Global had a negative net margin of 1.85% and a positive return on equity of 5.58%. Equities research analysts anticipate that PRGX Global Inc. will post $0.07 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Cannell Capital LLC purchased a new position in PRGX Global during the second quarter valued at approximately $124,000. Algert Global LLC purchased a new position in PRGX Global during the second quarter valued at approximately $125,000. GSA Capital Partners LLP purchased a new position in PRGX Global during the second quarter valued at approximately $149,000. O Shaughnessy Asset Management LLC raised its position in PRGX Global by 1,592.9% in the second quarter. O Shaughnessy Asset Management LLC now owns 37,498 shares of the company’s stock valued at $196,000 after buying an additional 35,283 shares in the last quarter. Finally, Royal Bank of Canada purchased a new position in PRGX Global during the second quarter valued at approximately $201,000. 70.14% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on the stock. B. Riley reiterated a “buy” rating and set a $6.25 target price on shares of PRGX Global in a research report on Monday, July 25th. Zacks Investment Research upgraded shares of PRGX Global from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a research report on Friday, July 8th.
PRGX Global Company Profile
PRGX Global, Inc (PRGX), together with its subsidiaries, provides recovery audit and spend analytics services. The Company provides recovery audit, procure-to-pay performance improvement, spend analytics and risk management services principally to large businesses and government agencies. The Company operates through three segments: Recovery Audit Services-Americas, Recovery Audit Services-Europe/Asia-Pacific and Adjacent Services.
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