MYR Group CEO Unloads $260,000 in Stock (MYRG)
MYR Group (NASDAQ:MYRG) CEO William Koertner unloaded 10,000 shares of MYR Group stock on the open market in a transaction dated Friday, October 18th. The shares were sold at an average price of $26.00, for a total transaction of $260,000.00. Following the transaction, the chief executive officer now directly owns 225,704 shares in the company, valued at approximately $5,868,304. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of MYR Group (NASDAQ:MYRG) traded down 1.09% during mid-day trading on Tuesday, hitting $26.24. The stock had a trading volume of 48,536 shares. MYR Group has a one year low of $17.60 and a one year high of $26.75. The stock’s 50-day moving average is $24.19 and its 200-day moving average is $21.94. The company has a market cap of $552.2 million and a price-to-earnings ratio of 16.39.
MYR Group (NASDAQ:MYRG) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.44. The company had revenue of $214.00 million for the quarter, compared to the consensus estimate of $233.24 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was down 17.7% on a year-over-year basis.
A number of research firms have recently commented on MYRG. Analysts at Zacks upgraded shares of MYR Group from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, August 12th. They now have a $22.80 price target on the stock. Analysts at DA Davidson downgraded shares of MYR Group from a “buy” rating to a “neutral” rating in a research note to investors on Friday, August 9th. They now have a $25.00 price target on the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. MYR Group presently has a consensus rating of “Buy” and a consensus target price of $25.56.
MYR Group Inc (NASDAQ:MYRG) is a holding company.
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