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Heartland Express (NASDAQ:HTLD) Chief Executive Officer Michael J. Gerdin recently purchased shares of the company’s common stock for a total value of $245,692. The purchases were made in multiple transactions between August 14 and August 18, with prices ranging from $8.1876 to $8.2 per share. According to InvestingPro data, the stock is currently trading at $7.92, suggesting potential value as the company maintains its 23-year streak of consistent dividend payments despite recent market challenges.
According to a Form 4 filing with the Securities and Exchange Commission, Gerdin acquired a total of 30,000 shares. These purchases increased Gerdin’s total holdings to 1,491,868 shares held as Trustee of the Michael J. Gerdin Revocable Trust. The insider buying comes as the stock has declined over 30% in the past six months, though InvestingPro analysis indicates the stock is currently trading below its Fair Value, with additional insights available in the comprehensive Pro Research Report.
The filing also indicates that Gerdin holds additional shares of Heartland Express (NASDAQ:HTLD) common stock through various trusts and partnerships, including grantor retained annuity trusts, the Ann S. Gerdin Revocable Trust, the 2009 and 2007 Gerdin Heartland Trusts, trusts for the benefit of his children, Gerdin Family Investments LP, and the Michael J. Gerdin Family Trust. While analysts anticipate sales declines this year, detailed financial health metrics and additional ProTips are available through InvestingPro’s extensive analysis tools.
In other recent news, Heartland Express has seen its stock price target adjusted by Morgan Stanley (NYSE:MS). The investment firm has lowered the target to $11 from a previous $12 while maintaining an Equalweight rating. This adjustment reflects Morgan Stanley’s view of "underwhelming" results from Heartland Express, despite observing early signs of operational improvement. The firm emphasizes that Heartland Express will need to demonstrate sustained execution to positively influence investor sentiment. These developments are part of the latest updates concerning Heartland Express, highlighting the company’s ongoing efforts and the scrutiny from financial analysts.
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