Insider Buying: HireQuest, Inc. (NASDAQ:HQI) Director Buys 2,000 Shares of Stock

HireQuest, Inc. (NASDAQ:HQI) Director R. Rimmy Malhotra acquired 2,000 shares of HireQuest stock in a transaction dated Monday, June 24th. The shares were acquired at an average price of $12.29 per share, with a total value of $24,580.00. Following the transaction, the director now owns 79,012 shares in the company, valued at approximately $971,057.48. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

HireQuest Trading Up 1.5 %

Shares of HQI traded up $0.18 during midday trading on Wednesday, hitting $12.30. The stock had a trading volume of 9,758 shares, compared to its average volume of 13,602. The firm has a market cap of $172.20 million, a P/E ratio of 32.42 and a beta of 1.02. The business has a 50-day simple moving average of $12.62 and a two-hundred day simple moving average of $13.30. HireQuest, Inc. has a fifty-two week low of $11.40 and a fifty-two week high of $26.53.

HireQuest (NASDAQ:HQI) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.02). HireQuest had a return on equity of 9.23% and a net margin of 14.06%. The company had revenue of $8.42 million for the quarter, compared to analyst estimates of $8.89 million. On average, analysts expect that HireQuest, Inc. will post 0.54 earnings per share for the current fiscal year.

HireQuest Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Monday, June 3rd. HireQuest’s dividend payout ratio (DPR) is currently 63.16%.

Hedge Funds Weigh In On HireQuest

An institutional investor recently bought a new position in HireQuest stock. US Bancorp DE bought a new stake in HireQuest, Inc. (NASDAQ:HQI) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 133,333 shares of the company’s stock, valued at approximately $2,047,000. US Bancorp DE owned approximately 0.96% of HireQuest as of its most recent filing with the SEC. 12.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on HQI shares. Barrington Research restated an “outperform” rating and set a $16.00 price objective on shares of HireQuest in a research report on Tuesday, May 28th. DA Davidson reduced their price objective on shares of HireQuest from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, March 22nd.

HireQuest Company Profile

HireQuest, Inc provides temporary staffing services in the United States. It offers staffing services, including direct-dispatch, executive search, consultant, unskilled and semi-skilled industrial and construction personnel, clerical and administrative personnel, and permanent placement services, as well as commercial and non-CDL drivers, and skilled personnel in the medical and dental industries.