Hhgregg Inc. (HGG) CEO Purchases $72,500.00 in Stock
Hhgregg Inc. (NYSE:HGG) CEO Robert James Riesbeck acquired 50,000 shares of the company’s stock in a transaction dated Wednesday, November 9th. The stock was acquired at an average cost of $1.45 per share, for a total transaction of $72,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 253,070 shares in the company, valued at $366,951.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Hhgregg Inc. (NYSE:HGG) opened at 1.60 on Tuesday. The stock’s market capitalization is $44.48 million. The company’s 50-day moving average is $1.73 and its 200-day moving average is $1.83. Hhgregg Inc. has a one year low of $1.28 and a one year high of $4.36.
Hhgregg (NYSE:HGG) last released its quarterly earnings data on Tuesday, November 8th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by $0.14. Hhgregg had a negative return on equity of 27.93% and a negative net margin of 3.22%. The company had revenue of $455 million for the quarter, compared to analyst estimates of $459.90 million. During the same period in the previous year, the business posted ($0.37) EPS. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, equities research analysts anticipate that Hhgregg Inc. will post ($1.22) earnings per share for the current year.
Separately, Zacks Investment Research downgraded shares of Hhgregg from a “hold” rating to a “sell” rating in a report on Thursday, November 10th.
An institutional investor recently raised its position in Hhgregg stock. Northern Trust Corp raised its position in shares of Hhgregg Inc. (NYSE:HGG) by 3.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 174,251 shares of the company’s stock after buying an additional 6,393 shares during the period. Northern Trust Corp owned about 0.63% of Hhgregg worth $320,000 at the end of the most recent quarter. 65.60% of the stock is owned by institutional investors and hedge funds.
Hhgregg Company Profile
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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