Insider Buying: Hhgregg Inc. (HGG) Insider Purchases $14,500.00 in Stock
Hhgregg Inc. (NYSE:HGG) insider Samuel J. Johnson bought 10,000 shares of the stock in a transaction dated Wednesday, November 9th. The shares were bought at an average price of $1.45 per share, for a total transaction of $14,500.00. Following the completion of the acquisition, the insider now owns 14,070 shares in the company, valued at $20,401.50. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of Hhgregg Inc. (NYSE:HGG) opened at 1.60 on Monday. The stock’s market cap is $44.48 million. The stock’s 50 day moving average is $1.74 and its 200 day moving average is $1.83. Hhgregg Inc. has a 52-week low of $1.28 and a 52-week high of $4.36.
Hhgregg (NYSE:HGG) last posted its quarterly earnings results on Tuesday, November 8th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by $0.14. The firm had revenue of $455 million for the quarter, compared to analysts’ expectations of $459.90 million. Hhgregg had a negative return on equity of 27.93% and a negative net margin of 3.22%. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.37) earnings per share. On average, equities analysts expect that Hhgregg Inc. will post ($1.22) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Hhgregg stock. Northern Trust Corp increased its position in shares of Hhgregg Inc. (NYSE:HGG) by 3.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 174,251 shares of the company’s stock after buying an additional 6,393 shares during the period. Northern Trust Corp owned 0.63% of Hhgregg worth $320,000 as of its most recent SEC filing. 65.60% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research cut Hhgregg from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th.
hhgregg, Inc (hhgregg) is an appliance, electronics and furniture retailer. The Company operates as a multi-regional retailer with approximately 230 brick-and-mortar stores in 20 states that also offer global and local brands across the nation through hhgregg.com. It also sells a suite of services, including third-party premium service plans (PSPs), third-party in-home service and repair of its products, delivery and installation, and in-home repair and maintenance.
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