James H. Roth, a director at Huron Consulting Group Inc. (NASDAQ:HURN), has sold a total of 6,805 shares of the company's common stock, according to a recent SEC filing. The transactions, which took place on March 18, 2024, resulted in proceeds exceeding $649,000.
The shares were sold at prices ranging from $94.31 to $97.11. Specifically, Roth sold 1,090 shares at an average price of $94.31, 4,197 shares at an average price of $95.38, and 1,318 shares at an average price of $96.30. Additionally, two smaller batches of 100 shares each were sold at prices of $97.10 and $97.11.
Following these transactions, Roth's direct holdings in Huron Consulting Group Inc. have decreased, though the exact amount of shares he retains in the company was not disclosed in the filing. It's also noted that the sales were made automatically pursuant to a Rule 10b5-1 trading plan that Roth adopted on May 18, 2023. Such plans allow company insiders to set up predetermined trading arrangements for selling stocks at a time when they are not in possession of material non-public information.
Investors often monitor insider transactions as they can provide insights into an insider's perspective on the value of the company's stock. The sale of a significant amount of stock by a director may be of interest to current and potential shareholders.
As of the last transaction, Roth's direct ownership in the company stands at 69,629 shares, not including any indirect holdings that may be held through other entities. Additionally, a footnote in the SEC filing indicates that there are 3,855 shares owned indirectly by a family LLC.
Huron Consulting Group Inc., headquartered in Chicago, Illinois, specializes in management consulting services and operates within the Services sector, under the Management Consulting Services industry.
InvestingPro Insights
In light of the recent insider transactions at Huron Consulting Group Inc. (NASDAQ:HURN), where director James H. Roth sold a notable number of shares, it's essential to examine the company's financial performance and market sentiment to understand the context of these sales. According to InvestingPro data, Huron Consulting Group has a market capitalization of $1.59 billion, with a trailing twelve-month P/E ratio adjusted as of Q4 2023 at 17.52, suggesting a valuation that is potentially more attractive compared to its current P/E ratio of 28.62.
The company's Revenue Growth for the last twelve months as of Q4 2023 stood at a robust 20.27%, indicating a strong upward trajectory in its earnings capability. This growth is further reflected in the company's Gross Profit Margin, which is a healthy 30.79%. An InvestingPro Tip that complements this data is that analysts predict the company will be profitable this year, which aligns with the demonstrated revenue growth and profitability over the last twelve months.
Another InvestingPro Tip to consider is that management has been aggressively buying back shares, which can often be viewed as a sign of confidence in the company's future prospects and a potential indicator of undervaluation. This action contrasts with the insider sale by Roth, and it may be worthwhile for investors to consider both these factors in their analysis.
Investors seeking a deeper dive into Huron Consulting Group's performance and future outlook can find additional InvestingPro Tips, with a total of 6 tips available at: https://www.investing.com/pro/HURN. To assist in making more informed investment decisions, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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