Insider Buying: Houston Wire & Cable (HWCC) Director Buys 3,704 Shares of Stock

Houston Wire & Cable (NASDAQ:HWCC) Director Roy W. Haley bought 3,704 shares of the company’s stock in a transaction dated Thursday, March 22nd. The stock was purchased at an average price of $7.20 per share, for a total transaction of $26,668.80. Following the purchase, the director now owns 13,704 shares of the company’s stock, valued at approximately $98,668.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Shares of Houston Wire & Cable (NASDAQ:HWCC) traded down $0.10 during midday trading on Friday, hitting $7.20. 10,998 shares of the stock traded hands, compared to its average volume of 35,926. The company has a market capitalization of $119.50, a P/E ratio of -359.82 and a beta of 1.53. Houston Wire & Cable has a 52-week low of $4.70 and a 52-week high of $7.80. The company has a current ratio of 5.23, a quick ratio of 2.39 and a debt-to-equity ratio of 0.81.

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Several hedge funds and other institutional investors have recently modified their holdings of HWCC. Ameriprise Financial Inc. raised its holdings in shares of Houston Wire & Cable by 53.5% during the third quarter. Ameriprise Financial Inc. now owns 648,124 shares of the industrial products company’s stock valued at $3,402,000 after purchasing an additional 225,813 shares during the last quarter. Brandes Investment Partners LP raised its holdings in shares of Houston Wire & Cable by 36.5% during the fourth quarter. Brandes Investment Partners LP now owns 485,911 shares of the industrial products company’s stock valued at $3,499,000 after purchasing an additional 129,826 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its holdings in shares of Houston Wire & Cable by 23.8% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 216,270 shares of the industrial products company’s stock valued at $1,557,000 after purchasing an additional 41,570 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Houston Wire & Cable by 28.1% during the fourth quarter. Renaissance Technologies LLC now owns 153,500 shares of the industrial products company’s stock valued at $1,105,000 after purchasing an additional 33,700 shares during the last quarter. Finally, SG Capital Management LLC purchased a new position in shares of Houston Wire & Cable during the fourth quarter valued at approximately $167,000. Hedge funds and other institutional investors own 64.98% of the company’s stock.

Several research analysts have recently issued reports on HWCC shares. Zacks Investment Research upgraded shares of Houston Wire & Cable from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a research note on Wednesday. TheStreet upgraded shares of Houston Wire & Cable from a “d+” rating to a “c-” rating in a research note on Friday, December 22nd. Finally, ValuEngine downgraded shares of Houston Wire & Cable from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $8.00.

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Houston Wire & Cable Company Profile

Houston Wire & Cable Company is a holding company. The Company is engaged in provision of electrical and mechanical wire and cable, hardware and related services. It operates through sales of wire and cable, hardware and related services segment in the United States market. Its cable management program includes purchasing and storing inventory for product availability.

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