Benzinga - by Benzinga Insights, Benzinga Staff Writer.
On May 7, VICKI PALMER, Board Member at Haverty Furniture Cos (NYSE:HVT) executed a significant insider buy, as disclosed in the latest SEC filing.
What Happened: In a recent Form 4 filing with the U.S. Securities and Exchange Commission on Tuesday, PALMER increased their investment in Haverty Furniture Cos by purchasing 3,222 shares through open-market transactions, signaling confidence in the company's potential. The total transaction value is $94,984.
As of Wednesday morning, Haverty Furniture Cos shares are down by 0.0%, currently priced at $28.7.
Get to Know Haverty Furniture Cos Better Haverty Furniture Companies Inc is a specialty retailer of residential furniture and accessories. It provides various products such as Sofa Tables, Sleepers, End Tables, Cocktail Tables, Accent Pieces, Display Cabinets, Wall Decor, floral and Tress, and other related products. The company operates primarily in the Southern and Midwestern U.S. All its activities are encompassed in its Merchandise division. The company derives the majority of its revenue from its upholstery products and, secondarily, from bedroom furniture.
Haverty Furniture Cos: A Financial Overview Revenue Growth: Haverty Furniture Cos's revenue growth over a period of 3 months has faced challenges. As of 31 December, 2023, the company experienced a revenue decline of approximately -24.88%. This indicates a decrease in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Consumer Discretionary sector.
Exploring Profitability:
- Gross Margin: The company maintains a high gross margin of 62.36%, indicating strong cost management and profitability compared to its peers.
- Earnings per Share (EPS): Haverty Furniture Cos's EPS lags behind the industry average, indicating concerns and potential challenges with a current EPS of 0.93.
Insights into Valuation Metrics:
- Price to Earnings (P/E) Ratio: The current P/E ratio of 10.4 is below industry norms, indicating potential undervaluation and presenting an investment opportunity.
- Price to Sales (P/S) Ratio: With a P/S ratio of 0.59 below industry standards, the stock shows potential undervaluation, making it an appealing investment option for those focusing on sales performance.
- EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation & Amortization): With an EV/EBITDA ratio lower than industry benchmarks at 7.7, Haverty Furniture Cos presents an attractive value opportunity.
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Understanding the Significance of Insider Transactions Insider transactions, although significant, should be considered within the larger context of market analysis and trends.
Considering the legal perspective, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, according to Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are mandated to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
Pointing towards optimism, a company insider's new purchase signals their positive anticipation for the stock to rise.
Nevertheless, insider sells may not necessarily indicate a bearish view and can be influenced by various factors.
Understanding Crucial Transaction Codes Delving into transactions, investors typically prioritize those unfolding in the open market, as precisely outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
Check Out The Full List Of Haverty Furniture Cos's Insider Trades.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
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