Home > Latest News > Gerry Harvey Buys $12.7M Worth Of Harvey Norman Shares

Gerry Harvey Buys $12.7M Worth Of Harvey Norman Shares

Harvey Norman co-founder and chairman Gerry Harvey has put his money where his mouth, buying up $12.7 million worth of shares this week after claiming the company was undervalued.

Across Monday, Tuesday, and Wednesday, Harvey bought 3.3 million shares, at roughly $3.84 a piece.

The day after Harvey Norman delivered lacklustre financials, Harvey argued the company’s shares, then sitting at $3.78, were in fact worth “six to eight bucks”.

Harvey believes the retail group’s property portfolio are badly underestimated — in the books at $3.9 billion and up $107 million during the half after external valuers reappraised the properties.

“There is no value attributed to that whatsoever,” he told the AFR last week.

“In fact, it works a bit the opposite way, where they start to question the value of our property.”

Shares in Harvey Norman are down 0.4 per cent today, sitting at $3.84 at 1:15pm AEDT.

You may also like
Gerry Harvey Has Another Bout Of Verbal Diarrhea Bought On By Albanese Government Budget
TCL A Serious Threat To Premium TV Manufacturers Because Of Their Quality & Low Prices
OZ To Get Apple $5K+ Vision Pro Headset Staff Sent To US For Training
Google Find My Device Works When A Pixel Is Powered Down
Netgear Struggling As Stock Levels Impact Sales & Profits Nosedive Again