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Gee group CFO Kim Thorpe acquires $29k in company stock

Published 05/23/2024, 09:50 PM

GEE Group Inc. (NYSEAMERICAN:JOB) has reported a recent stock transaction involving its Senior Vice President and CFO, Kim Thorpe. According to the latest filings, Thorpe has made significant purchases of the company's common stock, totaling approximately $29,000.

The transaction, which took place over two separate days, saw Thorpe acquiring a total of 35,906 shares at a price of $0.3495 per share on May 21, and an additional 46,300 shares at a price of $0.3554 per share on May 23. These purchases are part of Thorpe's investment in the company, and they reflect confidence in the firm's future prospects.

GEE Group Inc. is known for its services in the employment agencies sector, and the acquisition of its shares by a high-ranking executive often signals a positive outlook on the company's performance and stock valuation. The shares purchased by Thorpe are held under a Self-Directed IRA Account, which affords him sole voting and dispositive power over the shares.

The recent acquisition by the CFO has brought his total ownership in the company to 1,321,355 shares, which includes both direct and indirect holdings. This figure encompasses shares owned by FRUS Capital, LLC, an entity partially owned by Thorpe and his wife, as well as restricted shares that are set to vest over the coming years.

Investors often monitor insider transactions as they can provide insights into the executives' views on the company's valuation and future performance. The recent purchases by Thorpe may be interpreted by the market as a strong signal of his belief in the company's value and potential for growth.

GEE Group Inc. continues to operate in the competitive employment services industry, and any movements in stock ownership by key executives are closely watched by shareholders and potential investors alike.

InvestingPro Insights

GEE Group Inc. (NYSEAMERICAN:JOB) has been making waves in the market, and the recent insider transactions are just one piece of the puzzle. The company's financial metrics provide further insights into its valuation and potential for growth. According to InvestingPro data, GEE Group Inc. is trading at a low Price / Book multiple of 0.37 as of the last twelve months ending Q2 2024, which could indicate that the stock is undervalued compared to its book value. This aligns with the actions of the company's CFO, Kim Thorpe, suggesting he may also see the company as undervalued.

In terms of performance, the company has experienced a significant return over the last week, with a 1 Week Price Total Return of 9.68%. This recent uptick in performance may reflect a growing investor confidence, possibly influenced by insider buying behavior such as that of Thorpe. Despite a challenging period, with revenue showing a decline of 19.38% in the last twelve months as of Q2 2024, the company has managed to maintain a gross profit margin of 33.38%, which demonstrates some resilience in its operational efficiency.

InvestingPro Tips indicate that GEE Group Inc. operates with a moderate level of debt and that liquid assets exceed short-term obligations. These factors suggest a stable financial footing, which could be reassuring to investors considering the company's ability to navigate a downturn in sales. For those looking to delve deeper into the company's performance and insider transactions, there are additional InvestingPro Tips available, which can be accessed by visiting the dedicated page for GEE Group Inc. at https://www.investing.com/pro/JOB. To access these insights and more, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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