Jack Olmstead Bought 17% More Shares In HireQuest

Even if it's not a huge purchase, we think it was good to see that Jack Olmstead, the Independent Director of HireQuest, Inc. (NASDAQ:HQI) recently shelled out US$94k to buy stock, at US$13.38 per share. While we're hesitant to get too excited about a purchase of that size, we do note it increased their holding by a solid 17%.

View our latest analysis for HireQuest

The Last 12 Months Of Insider Transactions At HireQuest

The Independent Director Edward Jackson made the biggest insider purchase in the last 12 months. That single transaction was for US$254k worth of shares at a price of US$18.12 each. So it's clear an insider wanted to buy, even at a higher price than the current share price (being US$13.91). Their view may have changed since then, but at least it shows they felt optimistic at the time. We always take careful note of the price insiders pay when purchasing shares. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.

In the last twelve months HireQuest insiders were buying shares, but not selling. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.

Insider Ownership Of HireQuest

I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. It's great to see that HireQuest insiders own 45% of the company, worth about US$88m. This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.

So What Do The HireQuest Insider Transactions Indicate?

The recent insider purchase is heartening. And the longer term insider transactions also give us confidence. Once you factor in the high insider ownership, it certainly seems like insiders are positive about HireQuest. One for the watchlist, at least! So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. For example - HireQuest has 3 warning signs we think you should be aware of.

If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.