PRGX Global (PRGX) Upgraded at TheStreet

TheStreet upgraded shares of PRGX Global (NASDAQ:PRGX) from a c+ rating to a b rating in a report released on Friday.

A number of other equities analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of PRGX Global from a strong sell rating to a hold rating in a research report on Saturday. B. Riley set a $12.00 price objective on shares of PRGX Global and gave the company a buy rating in a research report on Friday. Finally, Barrington Research reissued a buy rating and issued a $13.00 price objective on shares of PRGX Global in a research report on Wednesday, September 19th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $12.00.

NASDAQ:PRGX traded up $0.16 on Friday, reaching $9.35. The stock had a trading volume of 12,740 shares, compared to its average volume of 68,351. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a market cap of $218.93 million, a P/E ratio of 44.52, a PEG ratio of 21.28 and a beta of 0.61. PRGX Global has a 12-month low of $6.93 and a 12-month high of $10.30.

PRGX Global (NASDAQ:PRGX) last posted its quarterly earnings data on Thursday, November 1st. The business services provider reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $43.32 million during the quarter, compared to analysts’ expectations of $44.80 million. PRGX Global had a net margin of 1.21% and a return on equity of 0.49%. As a group, equities analysts expect that PRGX Global will post 0.04 earnings per share for the current year.

In related news, major shareholder Strategic Opportunit Headlands purchased 13,959 shares of PRGX Global stock in a transaction dated Thursday, September 27th. The shares were acquired at an average price of $8.56 per share, with a total value of $119,489.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew A. Drapkin purchased 7,310 shares of PRGX Global stock in a transaction dated Thursday, August 16th. The shares were bought at an average cost of $8.95 per share, for a total transaction of $65,424.50. The disclosure for this purchase can be found here. Insiders have bought 87,672 shares of company stock worth $798,900 in the last ninety days. Corporate insiders own 17.10% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Macquarie Group Ltd. lifted its position in shares of PRGX Global by 68.0% during the second quarter. Macquarie Group Ltd. now owns 15,790 shares of the business services provider’s stock worth $153,000 after purchasing an additional 6,390 shares during the last quarter. Ramsey Quantitative Systems raised its stake in PRGX Global by 110.4% during the third 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. Dimensional Fund Advisors LP raised its stake in PRGX Global by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 732,777 shares of the business services provider’s stock worth $6,925,000 after acquiring an additional 12,182 shares during the period. JPMorgan Chase & Co. raised its stake in PRGX Global by 608.1% during the first 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, Rhumbline Advisers acquired a new stake in PRGX Global during the second quarter worth about $165,000. 80.08% of the stock is currently owned by institutional investors and hedge funds.

About PRGX Global

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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