James H. Roth, a director at Huron Consulting Group Inc. (NASDAQ:HURN), has sold a total of 2,000 shares of company stock, according to a recent filing with the Securities and Exchange Commission. The transactions, which took place on October 2, 2024, resulted in proceeds of over $212,996.
The shares were sold at prices ranging from $105.79 to $107.25. Specifically, 1,700 shares were sold at an average price of $106.39, while the remaining 300 shares fetched an average of $107.11 each. These sales were executed automatically pursuant to a Rule 10b5-1 trading plan that Roth had previously adopted on May 18, 2024.
Following these transactions, Roth's direct holdings in Huron Consulting Group have decreased, but he still maintains a significant ownership stake in the company. The filing also noted indirect ownership of 3,855 shares held by a Family LLC.
Investors often monitor insider buying and selling as an indicator of a company's internal perspective. Huron Consulting Group Inc., headquartered in Chicago, Illinois, specializes in management consulting services and operates under the ticker symbol HURN on the NASDAQ exchange.
In other recent news, Huron Consulting Group has made headlines with its strong financial performance in the second quarter of 2024. The company reported record revenues of $371.7 million, marking a 7.2% increase year-over-year. This impressive growth was primarily driven by the healthcare and education segments, which saw revenue growth of 9% and 11% respectively.
Adjusted earnings per share also reached new heights, rising by 20%, while the adjusted EBITDA margin expanded to 15%. Despite a 6% decline in commercial segment revenues, Huron remains confident about its future prospects. The company narrowed its annual revenue guidance to between $1.46 billion and $1.5 billion and upgraded its adjusted EBITDA margin guidance to 13% to 13.5%.
Huron is also optimistic about achieving a mid-teen EBITDA margin by 2025, without requiring revenue growth to accelerate beyond current levels. The company is focusing on managing expenses and increasing utilization to support its margin goals. These recent developments highlight Huron's strong financial performance and its strategic initiatives to enhance its market position.
InvestingPro Insights
To provide additional context to James H. Roth's recent stock sale, let's examine some key financial metrics and insights from InvestingPro for Huron Consulting Group Inc. (NASDAQ:HURN).
According to InvestingPro data, Huron Consulting Group has a market capitalization of $1.76 billion and a P/E ratio of 24.64. The company's revenue for the last twelve months as of Q2 2024 stood at $1.43 billion, with a notable revenue growth of 12.76% over the same period.
One InvestingPro Tip highlights that management has been aggressively buying back shares. This strategy often signals confidence in the company's future prospects and can potentially increase shareholder value. This buyback activity is particularly interesting when juxtaposed with Roth's recent stock sale, as it suggests a balanced approach to capital management within the company.
Another relevant InvestingPro Tip indicates that Huron Consulting Group has been profitable over the last twelve months. This profitability is reflected in the company's basic EPS (Continuing Operations) of $4.35 for the same period, demonstrating the firm's ability to generate earnings for its shareholders.
It's worth noting that InvestingPro offers 5 additional tips for Huron Consulting Group, providing investors with a more comprehensive analysis of the company's financial health and market position.
These insights from InvestingPro offer a broader perspective on Huron Consulting Group's financial standing, which may help investors contextualize the recent insider selling activity within the company's overall performance and strategic direction.
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