Quest Resource (NASDAQ:QRHC) Holding Corp (NASDAQ:QRHC) director Glenn Culpepper has increased his stake in the company, according to a recent SEC filing. Culpepper purchased 4,000 shares of the company's common stock at a price of $9.75 per share, totaling an investment of $39,000.
The transaction, dated May 16, 2024, was made public on May 20, 2024, and represents a vote of confidence from Culpepper in the company's future. With this purchase, Culpepper now directly holds 4,000 shares of Quest Resource Holding Corp.
In addition to the purchased shares, the SEC filing disclosed that Culpepper holds 15,000 shares in the form of deferred stock units granted under the Issuer's 2012 Incentive Compensation Plan. These securities are separate from the recently acquired shares and highlight Culpepper's long-term involvement with the company.
Quest Resource Holding Corp, based in The Colony, Texas, operates within the refuse systems industry and is known for its environmental services. The company's stock, traded under the ticker QRHC, may be influenced by such insider transactions, as they can be indicative of the company insiders' perspectives on the financial health and prospects of the company.
Investors often monitor insider buying and selling activities as part of their analysis, considering these actions as potential signals of the company's future performance. However, it's important to note that there are many factors that can affect stock prices and investment decisions should be based on comprehensive research.
The filing was signed by Brett W. Johnston, as Attorney-in-Fact, indicating that he executed the transaction on behalf of Culpepper.
InvestingPro Insights
Following the recent insider purchase by director Glenn Culpepper, Quest Resource Holding Corp (NASDAQ:QRHC) has shown notable developments that may interest investors. Culpepper's investment coincides with a period where the company's financial metrics and market performance present a mixed picture, according to data from InvestingPro.
InvestingPro data indicates that Quest Resource Holding Corp has a market capitalization of $193.19 million. Despite the company's negative P/E ratio of -32.63, reflecting challenges in profitability over the last twelve months, there is an expectation of net income growth this year. Moreover, the company's strong performance in the market is evident from a 76.2% return over the last year, and a significant 36.04% return over the last three months. This suggests investor optimism and a potential turnaround in financial performance.
Two InvestingPro Tips that stand out for QRHC are the anticipation of profitability within the year and the fact that the company's liquid assets exceed its short-term obligations. This financial stability, combined with the predicted shift towards profitability, as indicated by analysts, may provide a solid foundation for future growth.
For investors seeking a more comprehensive analysis, there are additional InvestingPro Tips available for QRHC at Investing.com. These tips can offer deeper insights into the company's financial health and assist in making informed investment decisions. Remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further exclusive content and analytics on InvestingPro.
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