Officials of Indianapolis-based HHGregg Inc. are buying tens of thousands of shares in the appliance and electronics retailer at a time when the stock is trading at its lowest level since Gregg's initial public offering in July 2007.
-Chairman and CEO Jerry W. Throgmartin bought 41,050 shares for $4.83 to $5.05 each.
-Gregg W. Throgmartin, Jerry Throgmartin's son and the company's senior vice president of store operations, bought 10,262 shares at $4.83 to $5.05 each.
-Darell E. Zink Jr., a director and former vice chairman of Indianapolis-based Duke Realty Corp., bought 10,000 shares at $4.89 each.
On Nov. 6, the company reported a decline in same-store sales in its second fiscal quarter and earnings per share that missed analyst expectations. Since the report, Gregg shares have fallen 20 cents each to $4.69.
After going public at $13, Gregg stock reached a peak of $16.08 in October 2007. It traded near $11 most of this year before beginning a steep slide last month.
A company representative was not immediately available for comment.