Q3 2018 Earnings Estimate for PRGX Global Inc Issued By B. Riley (PRGX)
PRGX Global Inc (NASDAQ:PRGX) – Equities researchers at B. Riley lowered their Q3 2018 earnings per share estimates for PRGX Global in a research report issued on Friday. B. Riley analyst K. Liu now forecasts that the business services provider will earn $0.10 per share for the quarter, down from their prior estimate of $0.13. B. Riley also issued estimates for PRGX Global’s FY2018 earnings at $0.13 EPS, Q1 2019 earnings at ($0.24) EPS, Q2 2019 earnings at ($0.02) EPS, Q3 2019 earnings at $0.12 EPS, Q4 2019 earnings at $0.35 EPS and FY2019 earnings at $0.22 EPS.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised PRGX Global from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Wednesday, November 8th. Barrington Research lifted their price objective on PRGX Global to $11.00 and gave the stock an “outperform” rating in a report on Friday.
PRGX Global (NASDAQ:PRGX) last announced its earnings results on Thursday, March 1st. The business services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.05. PRGX Global had a return on equity of 5.87% and a net margin of 1.97%. The firm had revenue of $47.07 million during the quarter, compared to analyst estimates of $45.31 million.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC purchased a new stake in PRGX Global in the 4th quarter worth about $713,000. Monashee Investment Management LLC purchased a new stake in PRGX Global in the 4th quarter worth about $150,000. Cadence Capital Management LLC increased its holdings in PRGX Global by 9.2% in the 4th quarter. Cadence Capital Management LLC now owns 271,621 shares of the business services provider’s stock worth $1,929,000 after acquiring an additional 22,783 shares during the last quarter. Thomson Horstmann & Bryant Inc. increased its holdings in PRGX Global by 44.8% in the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 722,119 shares of the business services provider’s stock worth $5,127,000 after acquiring an additional 223,379 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in PRGX Global by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 726,299 shares of the business services provider’s stock worth $4,721,000 after acquiring an additional 34,620 shares during the last quarter. 70.77% of the stock is owned by institutional investors.
In other news, Director Matthew A. Drapkin acquired 11,900 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was bought at an average price of $7.34 per share, with a total value of $87,346.00. Following the acquisition, the director now owns 133,153 shares in the company, valued at approximately $977,343.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 14.96% of the company’s stock.
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About PRGX Global
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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