The PRGX Global Inc (PRGX) Downgraded by ValuEngine to “Sell”

The PRGX Global Inc (PRGX) Downgraded by ValuEngine to “Sell”

A number of other research analysts have also recently issued reports on the company. TheStreet cut PRGX Global from a b- rating to a c+ rating in a research note on Wednesday, March 1st. Barrington Research raised PRGX Global from a market perform rating to an outperform rating and set a $8.00 target price for the company in a research note on Wednesday, March 1st. B. Riley reissued a buy rating and issued a $6.50 target price on shares of PRGX Global in a research note on Monday, February 27th. Finally, Zacks Investment Research cut PRGX Global from a hold rating to a sell rating in a research note on Saturday, March 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $6.31.

ValuEngine lowered shares of PRGX Global Inc (NASDAQ:PRGX) from a hold rating to a sell rating in a research note issued to investors on Thursday, May 11th. They currently have $4.00 target price on the business services provider’s stock, down from their previous target price of $6.00.

PRGX Global (NASDAQ:PRGX) opened at 6.75 on Thursday. PRGX Global has a 52 week low of $4.25 and a 52 week high of $7.25. The firm’s market cap is $149.34 million. The company has a 50-day moving average of $6.39 and a 200 day moving average of $6.03. PRGX Global (NASDAQ:PRGX) last announced its quarterly earnings data on Wednesday, April 26th. The business services provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.02. PRGX Global had a return on equity of 13.66% and a net margin of 2.33%. The company had revenue of $33.57 million for the quarter, compared to analyst estimates of $33.37 million. On average, equities analysts predict that PRGX Global will post $0.05 earnings per share for the current year.

In other PRGX Global news, Director Matthew A. Drapkin purchased 11,200 shares of the stock in a transaction on Tuesday, March 7th. The shares were purchased at an average price of $6.32 per share, with a total value of $70,784.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew A. Drapkin purchased 25,058 shares of the stock in a transaction on Friday, May 26th. The shares were acquired at an average cost of $6.21 per share, for a total transaction of $155,610.18. The disclosure for this purchase can be found here. Insiders have purchased 249,499 shares of company stock worth $1,545,662 in the last quarter. 8.90% of the stock is currently owned by corporate insiders. A number of institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its position in shares of PRGX Global by 1.0% in the first quarter. Renaissance Technologies LLC now owns 1,667,810 shares of the business services provider’s stock worth $10,674,000 after buying an additional 17,320 shares during the period. Cannell Capital LLC increased its position in PRGX Global by 14.3% in the first quarter. Cannell Capital LLC now owns 652,043 shares of the business services provider’s stock valued at $4,173,000 after buying an additional 81,587 shares during the last quarter. Dimensional Fund Advisors LP increased its position in 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 during the last quarter. Vanguard Group Inc. increased its position in PRGX Global by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,183,504 shares of the business services provider’s stock valued at $7,574,000 after buying an additional 13,531 shares during the last quarter. Finally, Credit Agricole S A purchased a new position in PRGX Global during the first quarter valued at approximately $296,000. 72.40% of the stock is currently owned by hedge funds and other institutional investors.

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”});

To view ValuEngine’s full report, visit ValuEngine’s official website.

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