Hugh E. Sawyer III, a director at Huron Consulting Group Inc. (NASDAQ:HURN), has sold 3,000 shares of the company's common stock on August 6, 2024, for a total value of $312,270. The shares were sold at a weighted average price of $104.09, with individual transactions ranging from $104.00 to $104.35.
This transaction has adjusted Sawyer's holdings in the company to a total of 23,802 shares of Huron Consulting Group's common stock following the sale. The details of the sale, including the range of prices at which the shares were sold, have been made available upon request, as noted in the footnotes of the SEC filing.
Investors often monitor the buying and selling activities of a company's directors as they may provide insights into the company's financial health and future prospects. The sale by Sawyer represents a significant transaction by a key member of Huron Consulting Group's board.
Huron Consulting Group, headquartered in Chicago, Illinois, specializes in management consulting services and operates under the SIC code 8742. The company has not provided any commentary on the transaction, and it remains one of the routine disclosures that publicly traded companies are required to submit to the SEC.
The sale was officially recorded and the Form 4 was filed with the Securities and Exchange Commission on August 8, 2024.
In other recent news, Huron Consulting Group has reported record revenues for the second quarter of 2024, with a noteworthy 7.2% increase year-over-year to $371.7 million. This surge was primarily driven by strong growth in the healthcare and education segments. The company also saw a significant 20% rise in adjusted earnings per share, and an expanded adjusted EBITDA margin of 15%. Despite a 6% decline in the commercial segment, Huron remains optimistic about achieving its mid-teen EBITDA margin target and expects sequential revenue growth in the second half of 2024. The company has refined its annual revenue guidance to between $1.46 billion and $1.5 billion and increased its adjusted EBITDA margin guidance to 13% to 13.5%. These are recent developments that underline Huron's robust financial performance and positive outlook for the rest of the year.
InvestingPro Insights
As investors digest the news of Hugh E. Sawyer III's recent sale of shares in Huron Consulting Group Inc. (NASDAQ:HURN), it is important to consider the company's current financial standing and market performance to understand the broader context. According to real-time metrics provided by InvestingPro, Huron Consulting Group has a market capitalization of $1.68 billion and is trading at a price-to-earnings (P/E) ratio of 23.39. This valuation is supported by a solid revenue growth of 12.76% over the last twelve months as of Q2 2024, indicating a healthy expansion of the company's business.
Additionally, Huron has demonstrated a strong return over the last three months, with a price total return of 17.34%. This performance contrasts with a recent dip, as the stock has taken a notable hit over the last week, experiencing a -9.04% price total return. These movements reflect the dynamic nature of the market and the varying factors that can impact a company's stock price.
InvestingPro Tips highlight that Huron Consulting Group's management has been actively buying back shares, which can be a sign of confidence in the company's future prospects. Moreover, the company's liquid assets exceed its short-term obligations, providing financial stability. On the other hand, three analysts have revised their earnings estimates downwards for the upcoming period, which could be a point of consideration for investors. For those looking for more in-depth analysis, there are additional InvestingPro Tips available at InvestingPro.
It is also noteworthy that Huron Consulting Group does not pay a dividend to shareholders, which may influence investment decisions for those seeking regular income. However, the company's profitability over the last twelve months and analysts' predictions that Huron will remain profitable this year offer a positive outlook for long-term investors.
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