Rhumbline Advisers Buys New Holdings in PRGX Global Inc (PRGX)
Rhumbline Advisers bought a new position in PRGX Global Inc (NASDAQ:PRGX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 17,005 shares of the business services provider’s stock, valued at approximately $165,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wedge Capital Management L L P NC bought a new position in PRGX Global in the 2nd quarter worth $857,000. Algert Global LLC raised its holdings in PRGX Global by 108.4% in the 2nd quarter. Algert Global LLC now owns 169,798 shares of the business services provider’s stock worth $1,647,000 after acquiring an additional 88,330 shares during the period. JPMorgan Chase & Co. raised its holdings in PRGX Global by 608.1% in the 1st quarter. JPMorgan Chase & Co. now owns 17,823 shares of the business services provider’s stock worth $168,000 after acquiring an additional 15,306 shares during the period. NJ State Employees Deferred Compensation Plan bought a new position in PRGX Global in the 2nd quarter worth $175,000. Finally, Millennium Management LLC raised its holdings in PRGX Global by 256.5% in the 1st quarter. Millennium Management LLC now owns 358,118 shares of the business services provider’s stock worth $3,384,000 after acquiring an additional 257,675 shares during the period. Hedge funds and other institutional investors own 79.51% of the company’s stock.
In related news, Director Matthew A. Drapkin acquired 7,310 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were bought at an average price of $8.95 per share, for a total transaction of $65,424.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have bought 73,713 shares of company stock worth $679,411. Insiders own 17.10% of the company’s stock.
PRGX Global (NASDAQ:PRGX) last posted its quarterly earnings data on Thursday, August 9th. The business services provider reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.08). PRGX Global had a return on equity of 0.06% and a net margin of 0.28%. The company had revenue of $42.10 million for the quarter, compared to the consensus estimate of $39.70 million. research analysts expect that PRGX Global Inc will post 0.04 EPS for the current fiscal year.
Several research analysts recently commented on PRGX shares. ValuEngine downgraded shares of PRGX Global from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 21st. Zacks Investment Research downgraded shares of PRGX Global from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 15th. TheStreet downgraded shares of PRGX Global from a “b” rating to a “c+” rating in a report on Friday, August 31st. Finally, Barrington Research reiterated a “buy” rating and issued a $13.00 target price on shares of PRGX Global in a report on Wednesday, September 19th. One analyst has rated the stock with a sell rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $12.00.
PRGX Global Company Profile
PRGX Global, Inc, together with its subsidiaries, provides recovery audit services to businesses and government agencies having payment transactions and procurement environments. It operates through three segments: Recovery Audit Services ? Americas, Recovery Audit Services – Europe/Asia-Pacific, and Adjacent Services.
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