Bank of New York Mellon Corp Holds Position in PRGX Global, Inc. (NASDAQ:PRGX)
Bank of New York Mellon Corp held its stake in shares of PRGX Global, Inc. (NASDAQ:PRGX) during the first quarter, Holdings Channel reports. The institutional investor owned 34,165 shares of the business services provider’s stock at the end of the first quarter. Bank of New York Mellon Corp’s holdings in PRGX Global were worth $218,000 as of its most recent SEC filing.
Separately, Russell Investments Group Ltd. purchased a new stake in shares of PRGX Global during the fourth quarter worth $517,000. Hedge funds and other institutional investors own 71.73% of the company’s stock.
PRGX Global, Inc. (NASDAQ PRGX) opened at 6.00 on Thursday. The firm’s market capitalization is $134.39 million. The company’s 50-day moving average is $6.29 and its 200-day moving average is $6.26. PRGX Global, Inc. has a 52-week low of $4.25 and a 52-week high of $7.25.
PRGX Global (NASDAQ:PRGX) last released its quarterly earnings data on Tuesday, August 1st. The business services provider reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.06. PRGX Global had a negative net margin of 0.55% and a positive return on equity of 0.30%. The company had revenue of $38.51 million during the quarter, compared to analyst estimates of $37.06 million. Analysts forecast that PRGX Global, Inc. will post $0.10 EPS for the current fiscal year.
A number of analysts have recently weighed in on PRGX shares. ValuEngine downgraded shares of PRGX Global from a “hold” rating to a “sell” rating and cut their price target for the stock from $6.00 to $4.00 in a report on Thursday, May 11th. Zacks Investment Research upgraded shares of PRGX Global from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Finally, B. Riley reiterated a “buy” rating and set a $8.00 price objective on shares of PRGX Global in a research report on Monday, April 24th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $6.31.
In related news, Director Matthew A. Drapkin bought 28,670 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was acquired at an average cost of $6.20 per share, for a total transaction of $177,754.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew A. Drapkin bought 79,606 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were bought at an average price of $6.12 per share, with a total value of $487,188.72. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 228,280 shares of company stock valued at $1,408,845. 14.96% of the stock is currently owned by company insiders.
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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