6.9% Stake of PRGX Global Inc (PRGX) Maintained by Northern Right Capital Management, L.P.

6.9% Stake of PRGX Global Inc (PRGX) Maintained by  				 					Northern Right Capital Management, L.P.

stated that they own 6.9% of PRGX Global Inc (NASDAQ:PRGX) in a Schedule 13D/A disclosure that was filed with the SEC on Wednesday, May 31st. The investor owns 1,528,223 shares of the stock valued at $10,239,094. The reporting parties listed on the disclosure included Northern Right Capital Management, LP, Northern Right Capital (QP), LP, BC Advisors, LLC and Matthew A Drapkin. The filing is available through EDGAR at this hyperlink.

Northern Right Capital Management, L.P.

Northern Right Capital Management, L.P.

provided the following explanation of their ownership:

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A number of other large investors also recently made changes to their positions in PRGX. Cadence Capital Management LLC bought a new stake in shares of PRGX Global during the fourth quarter valued at approximately $1,265,000. Cannell Capital LLC raised its stake in shares of PRGX Global by 1,653.1% in the third quarter. Cannell Capital LLC now owns 416,101 shares of the business services provider’s stock valued at $1,960,000 after buying an additional 392,366 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of PRGX Global by 2.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,650,490 shares of the business services provider’s stock valued at $9,738,000 after buying an additional 34,310 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of PRGX Global during the fourth quarter valued at approximately $517,000. Finally, Dimensional Fund Advisors LP raised its stake 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. Hedge funds and other institutional investors own 72.40% of the company’s stock.

Shares of PRGX Global Inc (NASDAQ:PRGX) traded up 7.20% on Wednesday, reaching $6.70. 26,786 shares of the company’s stock traded hands. The company has a 50 day moving average of $6.37 and a 200-day moving average of $6.00. PRGX Global Inc has a 52 week low of $4.25 and a 52 week high of $6.93. The stock’s market capitalization is $148.24 million.

PRGX Global (NASDAQ:PRGX) last issued its earnings results on Wednesday, April 26th. The business services provider reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.02. The business had revenue of $33.57 million for the quarter, compared to analyst estimates of $33.37 million. PRGX Global had a return on equity of 13.66% and a net margin of 2.33%. Equities research analysts forecast that PRGX Global Inc will post $0.05 earnings per share for the current year.

PRGX has been the topic of several research analyst reports. Barrington Research upgraded shares of PRGX Global from a “market perform” rating to an “outperform” rating and set a $8.00 price target on the stock in a research note on Wednesday, March 1st. Zacks Investment Research lowered shares of PRGX Global from a “hold” rating to a “sell” rating in a research note on Saturday, March 4th. TheStreet lowered shares of PRGX Global from a “b-” rating to a “c+” rating in a research note on Wednesday, March 1st. ValuEngine lowered 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 research note on Thursday, May 11th. Finally, B. Riley reissued a “buy” rating and set a $8.00 price objective on shares of PRGX Global in a research report on Saturday, April 29th. Two research analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. PRGX Global has a consensus rating of “Hold” and an average target price of $6.31.

In other PRGX Global news, Director Matthew A. Drapkin bought 11,200 shares of the company’s stock in a transaction on Tuesday, March 7th. The shares were bought at an average cost of $6.32 per share, with a total value of $70,784.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew A. Drapkin bought 79,606 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were acquired at an average cost of $6.12 per share, for a total transaction of $487,188.72. The disclosure for this purchase can be found here. Insiders have acquired 198,379 shares of company stock worth $1,228,207 over the last three months. 8.90% of the stock is owned by corporate insiders.

About PRGX Global

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:PRGX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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