In a recent transaction, Pinetree Capital Ltd. and L6 Holdings Inc., both based in Ontario, Canada, have collectively purchased shares of TruBridge, Inc. (NASDAQ:CPSI), a company specializing in computer programming services. The shares were acquired over a series of transactions, amounting to a total value of approximately $687,385.
The transactions took place over three consecutive days, starting on June 3, 2024, with prices ranging from $9.411 to $9.721 per share. On the first day, 2,568 shares were bought at a weighted average price of $9.443. The following day saw a significant increase in activity, with 55,916 shares purchased at an average of $9.411. The buying spree concluded on June 5, with an additional 14,084 shares acquired at an average price of $9.721.
These purchases have increased the indirect ownership stakes of both Pinetree Capital Ltd. and L6 Holdings Inc. in TruBridge, Inc. The companies have stated that the shares are held indirectly through various entities, with Pinetree Capital Ltd. being the parent company of the entities holding the shares. Damien Leonard, serving as Managing Director of L6 Holdings and President of Pinetree Capital, is identified as the ultimate control person for these transactions.
The filings also indicate that the reported prices are weighted averages, and the shares were bought at various prices within the stated ranges. The companies have committed to providing detailed information about the number of shares bought at each price upon request.
The combined transactions underscore a significant investment by the reporting entities in TruBridge, Inc., reflecting confidence in the company's prospects. As major shareholders, their investment moves are closely watched by the market for indications of the company's performance and strategic direction.
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