Shares of Houston Wire & Cable (NASDAQ:HWCC) traded up 12% on Wednesday following insider buying activity. The company traded as high as $2.13 and last traded at $1.96, 133,279 shares changed hands during trading. An increase of 132% from the average session volume of 57,569 shares. The stock had previously closed at $1.75.
Specifically, Director Roy W. Haley purchased 49,000 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was bought at an average price of $1.75 per share, with a total value of $85,750.00. Following the acquisition, the director now owns 587,883 shares in the company, valued at approximately $1,028,795.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roy W. Haley purchased 13,427 shares of the business’s stock in a transaction dated Wednesday, March 25th. The shares were purchased at an average cost of $1.98 per share, with a total value of $26,585.46. Following the acquisition, the director now owns 302,900 shares in the company, valued at approximately $599,742. The disclosure for this purchase can be found here. Insiders purchased 76,227 shares of company stock worth $142,310 in the last 90 days. 6.20% of the stock is owned by company insiders.
The firm has a market capitalization of $33.68 million, a P/E ratio of 12.50 and a beta of 1.59. The company has a quick ratio of 1.61, a current ratio of 4.47 and a debt-to-equity ratio of 0.91. The business’s 50 day moving average is $3.16 and its 200-day moving average is $3.94.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ancora Advisors LLC boosted its holdings in shares of Houston Wire & Cable by 9.9% in the 4th quarter. Ancora Advisors LLC now owns 244,659 shares of the industrial products company’s stock valued at $1,079,000 after purchasing an additional 22,035 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Houston Wire & Cable by 15.7% in the 4th quarter. Renaissance Technologies LLC now owns 308,352 shares of the industrial products company’s stock valued at $1,360,000 after purchasing an additional 41,952 shares during the last quarter. Eqis Capital Management Inc. bought a new position in shares of Houston Wire & Cable in the 4th quarter valued at $142,000. Millennium Management LLC acquired a new position in shares of Houston Wire & Cable during the 3rd quarter worth $60,000. Finally, Full Sail Capital LLC acquired a new position in shares of Houston Wire & Cable during the 3rd quarter worth $39,000. Hedge funds and other institutional investors own 60.27% of the company’s stock.
Houston Wire & Cable Company Profile (NASDAQ:HWCC)
Houston Wire & Cable Company, through its subsidiaries, sells electrical and mechanical wire and cable, industrial fasteners, hardware, and related services in the United States. It offers wire and cable products, including continuous and interlocked armor cables; control and power cables; electronic wires and cables; flexible and portable cords; instrumentation and thermocouple cables; lead and high temperature cables; medium voltage cables; and premise and category wires and cables, primary and secondary aluminum distribution cables, and steel wire ropes and wire rope slings, as well as synthetic fiber rope slings, chains, shackles, and other related hardware and corrosion resistant products.
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