Heartland Express (NASDAQ:HTLD) stock has recently witnessed significant insider buying, pointing to the insider’s confidence in the company’s long-term growth prospects. It is worth mentioning that HTLD stock’s price has declined by 14% in the past three months and Ann S. Gerdin Revocable Trust, one of Heartland’s more than 10% owners, is using this opportunity to accumulate the stock.
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HTLD is a transport and logistics company engaged in the provision of short- to medium-truckload carrier services.
Closer Look at the Insider’s Trades
Ann S. Gerdin Revocable Trust disclosed the purchase of 182,268 shares of HTLD in multiple transactions from December 6 to December 8, at an average price of $13.71 per share. The total transaction value stands at $2.5 million.
Investors should note that Ann S. Gerdin Revocable Trust bought shares of the company to the tune of $2.31 million in November. Another interesting point is that CEO Michael Gerdin is a co-trustee of the Ann S. Gerdin Revocable Trust. Gerdin also disclosed the purchase of the company’s shares worth $1.25 million on November 22.
The total value of HTLD stock in Ann S. Gerdin Revocable Trust’s portfolio currently stands at $430.1 million. Interestingly, the trust’s overall performance track record shows a 58% success rate over the past month, with an average return of 1% per transaction.
Bullish Insider Trading Signal
Overall, TipRanks’ Insider Trading Activity Tool shows that insider confidence in the company is currently Very Positive. Corporate insiders have bought Heartland stock worth $4.8 million over the last three months.
TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
What is the Stock Price Forecast for HTLD?
On TipRanks, HTLD stock has a Moderate Buy consensus rating based on two Buys and three Holds. Additionally, the average price target of $14.60 implies a 6.1% upside potential. At the same time, the stock has a TipRanks’ Smart Score of eight, indicating its potential to outperform market averages.
