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Gary Stephen Rosenbach, a 10% owner of Harte Hanks Inc. (NASDAQ:HHS), recently acquired 8,400 shares of the company’s common stock. The purchase, which took place on July 12, 2023, was executed at a weighted average price of $5.3558 per share, resulting in a total transaction value of approximately $44,988. According to InvestingPro data, this insider purchase occurred at a premium to the current trading price of $4.55, though analysts maintain a Strong Buy rating with a significantly higher price target of $17.50. This acquisition increases Rosenbach’s direct and indirect holdings to 761,733 shares.
The shares were bought in multiple transactions at prices ranging from $5.3350 to $5.3800. According to the filing, the securities are held directly by Rosenbach and his spouse, as well as in family trusts where they serve as trustees. Rosenbach may be deemed to beneficially own a total of 2,118,635 shares, which includes shares held jointly with his spouse and in retirement accounts.
In other recent news, Harte Hanks reported the outcomes of its 2025 Annual Meeting of Stockholders, highlighting several key decisions made by shareholders. The election of four board members—Genni Combes, John H. Griffin, Jr., Bradley Radoff, and Elizabeth Ross—was confirmed, with each director set to serve until the 2026 annual meeting. Additionally, the shareholders approved the executive compensation package, indicating satisfaction with the company’s pay structure. The selection of Wolf & Company P.C. as the independent auditor for the fiscal year ending December 31, 2025, was also ratified with substantial support.
In another development, Harte Hanks entered a cooperation agreement with major shareholders Gary S. Rosenbach and Susan Rosenbach. This agreement includes standstill provisions, such as restrictions on proxy solicitation and acquiring additional shares. The Rosenbachs have agreed to vote their shares in alignment with the Board’s recommendations until the 2026 annual meeting, barring extraordinary transactions. These recent developments reflect Harte Hanks’ active engagement with shareholders and strategic governance planning.
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