Insider Buys Additional US$176k In HireQuest Stock

Potential HireQuest, Inc. (NASDAQ:HQI) shareholders may wish to note that the Chairman, Richard Hermanns, recently bought US$176k worth of stock, paying US$9.15 for each share. However, it only increased shareholding by a small percentage, and it wasn't a huge purchase by absolute value, either.

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The Last 12 Months Of Insider Transactions At HireQuest

Notably, that recent purchase by Richard Hermanns is the biggest insider purchase of HireQuest shares that we've seen in the last year. That implies that an insider found the current price of US$10.30 per share to be enticing. That means they have been optimistic about the company in the past, though they may have changed their mind. If someone buys shares at well below current prices, it's a good sign on balance, but keep in mind they may no longer see value. The good news for HireQuest share holders is that an insider was buying at near the current price. Richard Hermanns was the only individual insider to buy during the last year.

The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

See our latest analysis for HireQuest

HireQuest is not the only stock that insiders are buying. For those who like to find small cap companies at attractive valuations, this free list of growing companies with recent insider purchasing, could be just the ticket.

Does HireQuest Boast High Insider Ownership?

Many investors like to check how much of a company is owned by insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. HireQuest insiders own 43% of the company, currently worth about US$63m based on the recent share price. Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders.

So What Do The HireQuest Insider Transactions Indicate?

It is good to see the recent insider purchase. We also take confidence from the longer term picture of insider transactions. Along with the high insider ownership, this analysis suggests that insiders are quite bullish about HireQuest. One for the watchlist, at least! Of course, the future is what matters most. So if you are interested in HireQuest, you should check out this free report on analyst forecasts for the company.

Of course HireQuest may not be the best stock to buy. So you may wish to see this free collection of high quality companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.