PRGX Global, Inc. (PRGX) Stock Rating Reaffirmed by B. Riley
PRGX Global, Inc. (NASDAQ:PRGX)‘s stock had its “buy” rating reiterated by investment analysts at B. Riley in a research note issued on Thursday. They currently have a $8.00 target price on the business services provider’s stock. B. Riley’s target price would indicate a potential upside of 30.08% from the stock’s previous close.
A number of other research firms also recently issued reports on PRGX. Zacks Investment Research raised shares of PRGX Global from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 28th. ValuEngine downgraded shares of PRGX Global from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $6.00 to $4.00 in a report on Thursday, May 11th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. PRGX Global presently has a consensus rating of “Buy” and an average target price of $6.31.
PRGX Global (NASDAQ PRGX) traded up 2.44% during midday trading on Thursday, hitting $6.30. 9,773 shares of the stock traded hands. The stock’s market capitalization is $141.03 million. PRGX Global has a 52 week low of $4.25 and a 52 week high of $7.25. The stock’s 50-day moving average price is $6.24 and its 200-day moving average price is $6.26.
PRGX Global (NASDAQ:PRGX) last posted its quarterly earnings data on Tuesday, August 1st. The business services provider reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.06. The company had revenue of $38.51 million for the quarter, compared to the consensus estimate of $37.06 million. PRGX Global had a negative net margin of 0.55% and a positive return on equity of 0.30%. Equities research analysts expect that PRGX Global will post $0.10 EPS for the current fiscal year.
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In other news, Director Matthew A. Drapkin purchased 38,884 shares of the stock in a transaction on Thursday, May 25th. The shares were acquired at an average price of $6.23 per share, with a total value of $242,247.32. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Strategic Opportunit Headlands purchased 20,000 shares of the stock in a transaction on Friday, August 4th. The shares were purchased at an average cost of $6.13 per share, for a total transaction of $122,600.00. The disclosure for this purchase can be found here. In the last three months, insiders purchased 153,676 shares of company stock worth $951,738. 14.96% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP increased its position in shares of PRGX Global by 3.7% in the second quarter. GSA Capital Partners LLP now owns 44,014 shares of the business services provider’s stock valued at $286,000 after buying an additional 1,584 shares in the last quarter. Boston Partners increased its position in shares of PRGX Global by 1.8% in the second quarter. Boston Partners now owns 192,958 shares of the business services provider’s stock valued at $1,007,000 after buying an additional 3,451 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of PRGX Global by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 691,679 shares of the business services provider’s stock valued at $4,427,000 after buying an additional 3,993 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of PRGX Global by 13.6% in the first quarter. Goldman Sachs Group Inc. now owns 39,399 shares of the business services provider’s stock valued at $186,000 after buying an additional 4,704 shares in the last quarter. Finally, Spark Investment Management LLC increased its position in shares of PRGX Global by 39.1% in the third quarter. Spark Investment Management LLC now owns 21,700 shares of the business services provider’s stock valued at $102,000 after buying an additional 6,100 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.
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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