SAN ANTONIO, TX – Harte Hanks Inc. (NYSE:NASDAQ:HHS) Chief Executive Officer Kirk Davis has made a notable investment in the company, purchasing shares valued at a total of $50,002. The series of transactions, all taking place on May 13, saw the CEO acquire shares at prices ranging from $6.99 to $7.10.
The purchases come as a sign of confidence by Davis in the direct mail advertising services company, with the CEO increasing his stake significantly. The transactions involved a varying number of shares, indicating strategic buying activity at different price points within the stated range.
Investors and market watchers often look to insider buying as a positive signal about a company's future prospects. The CEO's decision to increase his ownership in Harte Hanks suggests a bullish outlook for the company's stock.
The details of the transactions, disclosed in a recent SEC filing, show that Davis's holdings in the company have grown substantially. Following the purchases, his total ownership in Harte Hanks stands at 22,331 shares of common stock.
Harte Hanks has been a player in the marketing services industry, providing a range of services including direct mail. The company's stock, traded under the ticker NYSE:HHS, will be watched closely by investors to see if the CEO's investment aligns with future performance and market trends.
Shareholders and potential investors can access the full details of the transactions through the company's SEC filings, which provide transparency and ongoing updates regarding insider trades. The latest moves by Davis will undoubtedly be a topic of interest in the investment community as they assess Harte Hanks's market position and growth strategy.
InvestingPro Insights
Following the recent insider buying activity by Harte Hanks Inc.'s (NYSE:HHS) CEO Kirk Davis, the company's financial health and market performance metrics are of particular interest to investors. The strategic share purchases by Davis are underscored by key insights from InvestingPro, which shed light on the company's current valuation and future prospects.
One of the notable InvestingPro Tips for Harte Hanks is that management has been aggressively buying back shares, which is often a sign of confidence in the company's value and future performance. Additionally, analysts predict that the company will be profitable this year, providing a positive outlook for investors considering the recent insider buying as an indicator.
InvestingPro Data reveals a market capitalization of $50.61M USD for Harte Hanks, with a forward-looking P/E Ratio (Adjusted) for the last twelve months as of Q1 2024 standing at 19.96. While the company has experienced a revenue contraction of -7.1% over the last twelve months as of Q1 2024, the gross profit margin during the same period was 16.11%, indicating challenges in profitability. Furthermore, the stock's Price % of 52 Week High is at 88.38%, suggesting it is trading below its highest value in the past year, which could be a point of interest for value investors.
For those who are intrigued by these insights and wish to delve deeper into Harte Hanks's financials and market performance, additional InvestingPro Tips are available. With 10 more tips listed on the InvestingPro platform, investors can gain a comprehensive understanding of the company's position. To access these valuable insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at https://www.investing.com/pro/HHS.
The recent insider buying by the CEO, coupled with the InvestingPro data, provides a multifaceted view of Harte Hanks's current situation and potential future trajectory, offering investors a richer context for their investment decisions.
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