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Quest Resource (NASDAQ:QRHC) Holding Corp's (NASDAQ:QRHC) Senior Vice President of Finance and Chief Financial Officer, Brett Wade Johnston, has recently made a notable purchase of the company's common stock. According to the latest filings, Johnston acquired 1,500 shares at a weighted average price of $8.03 to $8.04, amounting to a total investment of over $12,000.
This transaction, which occurred on August 22, 2024, increased Johnston's holdings in the waste management company to a total of 28,070 shares of common stock. The acquisition price represents a weighted average, with the CFO undertaking to provide additional information about the specific number of shares bought at each price upon request.
Investors often monitor insider transactions such as this one for insights into executives' perspectives on the company's current valuation and future prospects. Johnston's purchase can be seen as a sign of confidence in Quest Resource Holding Corp's performance and potential for growth.
As a provider of waste management solutions, Quest Resource Holding Corp is categorized under the refuse systems industry and operates with a commitment to sustainability and environmental responsibility. The company's stock is publicly traded on the NASDAQ, allowing investors to partake in its journey towards creating eco-friendly waste management practices.
For those interested in following the company's insider transactions, Quest Resource Holding Corp's stock market performance, and other financial updates, staying tuned to the latest SEC filings and market news is essential.
In other recent news, Quest Resource Holding Corp announced a new Long-Term Incentive Plan (2024 LTIP) for its executive officers. The plan, approved by the Compensation Committee, is designed to align the company's leadership with shareholder interests. It allows executive officers and key personnel to be granted performance stock units (PSUs), eligible for conversion into common stock after a three-year performance period, contingent on hitting certain performance metrics. The company also reported strong EBITDA for the second consecutive quarter, exceeding $5 million, despite a 2% dip in revenue year-over-year, totaling $73.1 million. These developments are part of the company's continued efforts to enhance its performance and create long-term value for its shareholders. Quest Resource's financial health is further supported by an extended debt maturity and increased borrowing capacity with PNC Bank. The company's efficiency initiatives, including AP automation, are contributing to improved customer service and cost reductions.
InvestingPro Insights
Quest Resource Holding Corp (NASDAQ:QRHC) has recently seen significant insider activity, with Senior Vice President of Finance and Chief Financial Officer Brett Wade Johnston increasing his stake in the company. As stakeholders consider the implications of such insider transactions, a look at QRHC's financial metrics and analyst insights provides additional context to Johnston's investment decision.
According to InvestingPro data, QRHC has a market capitalization of approximately $165.72 million, reflecting the company's size and market value. Despite a challenging period, with a negative P/E ratio of -25.12 indicating that the company has not been profitable over the last twelve months, there are signs of potential turnaround. Analysts predict that QRHC will be profitable this year, which could be a factor influencing Johnston's confidence in the company's future. Moreover, QRHC's revenue has shown a slight increase of 0.47% in the last twelve months as of Q2 2024, suggesting some growth despite market headwinds.
InvestingPro Tips highlight that while QRHC may face difficulties making interest payments on debt, the company's liquid assets exceed its short-term obligations, which could provide some financial stability. Additionally, QRHC does not pay a dividend to shareholders, which could mean that the company is reinvesting its earnings into growth and debt repayment. For investors seeking more detailed insights, there are additional InvestingPro Tips available that could further inform investment decisions, such as the company trading at a high EBIT valuation multiple and the two analysts who have revised their earnings downwards for the upcoming period.
Investors interested in QRHC's performance and future outlook can find a wealth of information and additional tips on InvestingPro, including the company's fair value estimates and next earnings date scheduled for November 11, 2024. With a fair value of $9.11 as per InvestingPro's analysis, compared to the analyst target of $13, the stock may present an opportunity for investors who agree with Johnston's optimistic view of the company's prospects.
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