Jun. 5 at 1:40 AM
Insperity shares rose in after-hours trading Thursday after President and CEO Paul J. Sarvadi disclosed the purchase of 233,000 common shares, signaling confidence in the company’s outlook.
According to a Form 4 filing with the U.S. Securities and Exchange Commission (SEC), Sarvadi acquired the shares on June 3 at a weighted average price of
$34.05 per share, with individual purchases ranging from
$33.51 to
$34.45. The transaction was valued at approximately
$7.9 million.
Following the purchase, Sarvadi indirectly owns 1.11 million shares through Our Ship Limited Partnership, where he serves as general partner, and directly holds nearly 700,000 shares.
The sizable insider purchase drew investor attention as insider buying is often viewed as a sign that management believes the stock is undervalued or that the company’s long-term prospects remain strong.
$NSP