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Tuesday, December 03, 2019
Harte-Hanks Inc. (HHS)
New Leadership For A New Phase?
Harte-Hanks is a marketing services company that provides multichannel marketing solutions as well as consulting, data analytics, and strategic assessment. The company’s offerings focus on business-to-business, retail, finance, and automotive segments through digital, social, mobile, and print media offerings. Harte-Hanks strives to develop better customer relationships through its marketing and analytical services for clients. The majority of its revenue is derived from its marketing services in the retail, technology, and consumer brand segments.
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
Refer to full report for the price target, fundamental analysis, and rating.
Appoints a new C-level management team. The company appointed Andrew Benett as Executive Chairman and CEO, Brian Linscott as COO, and promotes Lauri Kearnes to CFO position, replacing departing Mark Del Priore. Andrew Harrison stepped down as President but will remain with the company in an advisory role. Al Tobia, former Executive Chairman, will remain on the Board. While it was expected that there was a search for a new CEO, we are surprised by the sweeping management and Board changes.
A pivot in focus. The new management represents a team with broad experience in the marketing services industry and a pivot in the company’s operating strategy, with a focus on revenue and cash flow growth from one of cost-cutting and right-sizing. We believe that investors are likely to be hopeful, but …
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
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