Kevin Kovacs Acquires 10,000 Shares of Hhgregg Inc. (HGG) Stock
Hhgregg Inc. (NYSE:HGG) CFO Kevin Kovacs purchased 10,000 shares of Hhgregg stock in a transaction that occurred on Thursday, November 10th. The shares were bought at an average cost of $1.50 per share, for a total transaction of $15,000.00. Following the transaction, the chief financial officer now directly owns 11,049 shares of the company’s stock, valued at $16,573.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of Hhgregg Inc. (NYSE:HGG) opened at 1.60 on Wednesday. The firm’s market cap is $44.48 million. Hhgregg Inc. has a one year low of $1.28 and a one year high of $4.36. The firm has a 50 day moving average price of $1.74 and a 200-day moving average price of $1.83.
Hhgregg (NYSE:HGG) last announced its earnings results 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 business earned $455 million during the quarter, compared to analysts’ expectations of $459.90 million. During the same quarter in the previous year, the firm earned ($0.37) EPS. Hhgregg’s quarterly revenue was down 6.6% on a year-over-year basis. Analysts forecast that Hhgregg Inc. will post ($1.22) earnings per share for the current year.
Separately, Zacks Investment Research raised Hhgregg from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a research report on Wednesday, July 20th.
Institutional investors have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Hhgregg by 4.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 63,400 shares of the company’s stock worth $117,000 after buying an additional 2,700 shares during the period. Northern Trust Corp boosted its stake in Hhgregg by 3.8% in the third quarter. Northern Trust Corp now owns 174,251 shares of the company’s stock worth $320,000 after buying an additional 6,393 shares during the period. Finally, Stifel Financial Corp boosted its stake in Hhgregg by 99.5% in the second quarter. Stifel Financial Corp now owns 441,000 shares of the company’s stock worth $781,000 after buying an additional 220,000 shares during the period. Hedge funds and other institutional investors own 65.60% of the company’s stock.
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.
Receive News & Stock Ratings for Hhgregg Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hhgregg Inc. and related stocks with our FREE daily email newsletter.