Key Points
- CEO Richard Hermanns purchased 9,704 shares on Dec. 30 at an average price of $10.28 (≈$99,757), raising his holdings to 2,951,283 shares — a 0.33% increase in ownership.
- Board-approved $20.0 million buyback was announced, authorizing repurchases of up to 18.4% of outstanding shares, and the company recently paid a $0.06 quarterly dividend (annualized yield ~2.2%, DPR 48%).
- HireQuest beat expectations in the most recent quarter with $0.24 EPS vs. $0.14 consensus and $8.50M revenue vs. $8.11M expected; analysts’ views are mixed with a consensus price target of $14.00.
HireQuest, Inc. (NASDAQ:HQI - Get Free Report) CEO Richard Hermanns purchased 9,704 shares of the company's stock in a transaction dated Tuesday, December 30th. The shares were acquired at an average cost of $10.28 per share, for a total transaction of $99,757.12. Following the transaction, the chief executive officer owned 2,951,283 shares of the company's stock, valued at $30,339,189.24. This trade represents a 0.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Richard Hermanns also recently made the following trade(s):
- On Wednesday, December 24th, Richard Hermanns acquired 422 shares of HireQuest stock. The stock was acquired at an average price of $10.12 per share, with a total value of $4,270.64.
- On Monday, December 22nd, Richard Hermanns bought 18,854 shares of HireQuest stock. The shares were acquired at an average cost of $9.13 per share, with a total value of $172,137.02.
HireQuest Stock Performance
Shares of HQI stock opened at $10.70 on Friday. HireQuest, Inc. has a 52 week low of $7.38 and a 52 week high of $15.75. The company's 50 day moving average price is $8.91 and its two-hundred day moving average price is $9.42. The company has a market capitalization of $150.87 million, a P/E ratio of 21.40 and a beta of 1.10.
HireQuest (NASDAQ:HQI - Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.10. HireQuest had a net margin of 21.92% and a return on equity of 14.48%. The company had revenue of $8.50 million during the quarter, compared to analysts' expectations of $8.11 million. Analysts forecast that HireQuest, Inc. will post 0.28 earnings per share for the current year.
HireQuest Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a $0.06 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.24 annualized dividend and a dividend yield of 2.2%. HireQuest's dividend payout ratio (DPR) is currently 48.00%.
HireQuest announced that its board has initiated a stock buyback plan on Wednesday, December 17th that permits the company to repurchase $20.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 18.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.
Institutional Investors Weigh In On HireQuest
Institutional investors and hedge funds have recently made changes to their positions in the stock. GWN Securities Inc. acquired a new stake in shares of HireQuest in the 2nd quarter valued at approximately $129,000. Russell Investments Group Ltd. increased its holdings in HireQuest by 67.8% during the second quarter. Russell Investments Group Ltd. now owns 26,303 shares of the company's stock worth $263,000 after buying an additional 10,627 shares during the last quarter. Ancora Advisors LLC bought a new stake in HireQuest during the first quarter worth $317,000. Geode Capital Management LLC raised its position in HireQuest by 4.3% during the second quarter. Geode Capital Management LLC now owns 139,141 shares of the company's stock worth $1,393,000 after acquiring an additional 5,685 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in HireQuest by 4.4% in the third quarter. Vanguard Group Inc. now owns 293,013 shares of the company's stock valued at $2,819,000 after acquiring an additional 12,246 shares during the last quarter. Institutional investors own 12.00% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. Barrington Research reiterated an "outperform" rating and set a $13.00 price objective on shares of HireQuest in a report on Wednesday, November 12th. DA Davidson set a $15.00 price target on HireQuest in a research report on Tuesday, December 2nd. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of HireQuest in a research note on Monday. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $14.00.
Get Our Latest Stock Report on HQI
HireQuest Company Profile
(
Get Free Report)
HireQuest, Inc is a publicly traded holding company that provides equipment rental and workforce solutions across North America through two primary operating subsidiaries. Its Coast Equipment Rentals division offers a broad range of support equipment—such as pumps, trench safety systems, power and HVAC units, air compressors, light towers and generators—to the construction, industrial, municipal and environmental markets. Coast Equipment Rentals operates more than 135 branch locations in 36 U.S.
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