Acadian Asset Management LLC Sells 101,387 Shares of PRGX Global Inc (PRGX)

Acadian Asset Management LLC lowered its position in shares of PRGX Global Inc (NASDAQ:PRGX) by 21.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 378,659 shares of the business services provider’s stock after selling 101,387 shares during the period. Acadian Asset Management LLC owned 1.61% of PRGX Global worth $3,293,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ramsey Quantitative Systems increased its stake in PRGX Global by 110.4% during the 3rd quarter. Ramsey Quantitative Systems now owns 16,583 shares of the business services provider’s stock worth $144,000 after acquiring an additional 8,700 shares during the period. Macquarie Group Ltd. increased its stake in PRGX Global by 68.0% during the 2nd quarter. Macquarie Group Ltd. now owns 15,790 shares of the business services provider’s stock worth $153,000 after acquiring an additional 6,390 shares during the period. Rhumbline Advisers bought a new position in PRGX Global during the 2nd quarter worth $165,000. JPMorgan Chase & Co. increased its stake in PRGX Global by 608.1% during 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. Finally, NJ State Employees Deferred Compensation Plan bought a new position in PRGX Global during the 2nd quarter worth $175,000. Institutional investors own 80.08% of the company’s stock.

In other PRGX Global news, Director Matthew A. Drapkin purchased 7,310 shares of the firm’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 document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Strategic Opportunit Headlands purchased 13,959 shares of the firm’s stock in a transaction dated Thursday, September 27th. The stock was acquired at an average price of $8.56 per share, for a total transaction of $119,489.04. The disclosure for this purchase can be found here. In the last quarter, insiders bought 112,272 shares of company stock worth $1,024,482. Corporate insiders own 17.10% of the company’s stock.

PRGX Global stock opened at $9.28 on Friday. PRGX Global Inc has a one year low of $6.95 and a one year high of $10.30. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market cap of $216.11 million, a price-to-earnings ratio of 44.19, a P/E/G ratio of 6.45 and a beta of 0.61.

PRGX Global (NASDAQ:PRGX) last issued its quarterly earnings results on Thursday, November 1st. The business services provider reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.02. PRGX Global had a return on equity of 0.49% and a net margin of 1.21%. The company had revenue of $43.32 million for the quarter, compared to analyst estimates of $44.80 million. Equities research analysts expect that PRGX Global Inc will post 0.09 earnings per share for the current fiscal year.

A number of research firms have commented on PRGX. TheStreet upgraded PRGX Global from a “c+” rating to a “b” rating in a research note on Friday, November 2nd. Zacks Investment Research upgraded PRGX Global from a “strong sell” rating to a “hold” rating and set a $10.00 price objective on the stock in a research note on Saturday, November 3rd. B. Riley set a $12.00 price objective on PRGX Global and gave the stock a “buy” rating in a research note on Friday, November 2nd. Finally, Barrington Research restated a “buy” rating and set a $13.00 price objective on shares of PRGX Global in a research note on Wednesday, September 19th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $11.67.

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PRGX Global 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.

Further Reading: Understanding Market Liquidity

Institutional Ownership by Quarter for PRGX Global (NASDAQ:PRGX)

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