Insider Buying: Stephen E. Hare Purchases 1,000 Shares of Hanger Stock (HGR)
Hanger (NYSE:HGR) Director Stephen E. Hare acquired 1,000 shares of the stock on the open market in a transaction dated Monday, August 25th. The shares were purchased at an average price of $21.98 per share, with a total value of $21,980.00. Following the acquisition, the director now directly owns 39,158 shares of the company’s stock, valued at approximately $860,693. The purchase was disclosed in a filing with the SEC, which is available at this link.
Shares of Hanger (NYSE:HGR) traded down 0.64% on Tuesday, hitting $21.86. 1,201,504 shares of the company’s stock traded hands. Hanger has a 1-year low of $20.42 and a 1-year high of $40.71. The stock’s 50-day moving average is $27.46 and its 200-day moving average is $31.64. The company has a market cap of $775.4 million and a P/E ratio of 13.34. Hanger also was the target of a significant decline in short interest during the month of August. As of August 15th, there was short interest totalling 1,861,475 shares, a decline of 42.7% from the July 31st total of 3,247,857 shares. Approximately 5.5% of the company’s shares are sold short. Based on an average daily volume of 1,195,940 shares, the short-interest ratio is currently 1.6 days.
Hanger (NYSE:HGR) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.40 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.53 by $0.13. The company had revenue of $275.85 million for the quarter, compared to the consensus estimate of $285.51 million. During the same quarter last year, the company posted $0.52 earnings per share. Hanger’s revenue was up 3.0% compared to the same quarter last year. On average, analysts predict that Hanger will post $1.73 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on HGR shares. Analysts at SunTrust downgraded shares of Hanger from a “buy” rating to a “neutral” rating in a research note on Monday, August 11th. They now have a $24.00 price target on the stock, down previously from $38.00. Separately, analysts at Jefferies Group cut their price target on shares of Hanger from $41.00 to $30.00 in a research note on Friday, August 8th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Hanger in a research note on Monday, July 28th. They now have a $32.00 price target on the stock.
Hanger, Inc, formerly Hanger Orthopedic Group, Inc, is a provider of services and products that enhance human physical capabilities.
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