{"id":1751,"date":"2017-01-21T12:46:23","date_gmt":"2017-01-21T12:46:23","guid":{"rendered":"https:\/\/cityfalcon.com\/blog\/?p=1751"},"modified":"2017-10-05T11:01:38","modified_gmt":"2017-10-05T11:01:38","slug":"harte-hanks-a-value-stock","status":"publish","type":"post","link":"https:\/\/www.cityfalcon.ai\/blog\/es\/investments\/harte-hanks-a-value-stock\/","title":{"rendered":"Harte-Hanks: una acci\u00f3n de valor"},"content":{"rendered":"<br \/>\n<style>\n.wp-caption {\nmax-width: 100% !important;\n}\n iframe {\nmax-width: 100%; hight: auto;\n}\n<\/style>\n<p><strong><em>Descargo de responsabilidad: esta es una publicaci\u00f3n de invitado de Michael Wiggins De Oliveira<\/em><em>, y no refleja las opiniones de CityFALCON y sus partes interesadas.<\/em><\/strong><\/p>\n<h4>Harte-Hanks<br \/>\nFecha: 19\/1\/2017<br \/>\nCapitalizaci\u00f3n de mercado: $93m<br \/>\nPrecio de la acci\u00f3n: $1.52<br \/>\nValoraci\u00f3n \/ precio indicativo: ~ $2.50<\/h4>\n<p><strong>Tesis de inversi\u00f3n<br \/>\n<\/strong>Harte-Hanks (NYSE: HHS), vendi\u00f3 recientemente su joya de la corona, por $112m en efectivo, que es m\u00e1s que la capitalizaci\u00f3n de mercado actual de la compa\u00f1\u00eda. Este efectivo (despu\u00e9s de impuestos) se utilizar\u00e1 para pagar su deuda dejando el resto de la empresa libre de deudas. Creo que hay aproximadamente 50% al alza en el precio actual de las acciones.<\/p>\n<p><strong>visi\u00f3n general del negocio<\/strong><\/p>\n<p>HHS es una empresa de marketing que ofrece servicios de marketing en medios, desde correo directo hasta correo electr\u00f3nico, incluidos servicios digitales y de agencia.<\/p>\n<div id=\"attachment_1765\" style=\"width: 1106px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/blog.cityfalcon.com\/wp-content\/uploads\/2017\/01\/hhs-1.png\"><img fetchpriority=\"high\" decoding=\"async\" aria-describedby=\"caption-attachment-1765\" style=\"max-width: 100%; height: auto;\" class=\"wp-image-1765 size-full\" src=\"http:\/\/blog.cityfalcon.com\/wp-content\/uploads\/2017\/01\/hhs-1.png\" width=\"1096\" height=\"690\" srcset=\"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-1.png 1096w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-1-300x189.png 300w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-1-768x484.png 768w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-1-1024x645.png 1024w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-1-945x595.png 945w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-1-600x378.png 600w\" sizes=\"(max-width: 1096px) 100vw, 1096px\" \/><\/a><p id=\"caption-attachment-1765\" class=\"wp-caption-text\">Fuente: hartehanks.com<\/p><\/div>\n<p>Sus ingresos han ido disminuyendo a\u00f1o tras a\u00f1o durante la \u00faltima d\u00e9cada. Esto ha dejado a los accionistas muy poco entusiasmados con las perspectivas de la empresa, como se refleja en el precio de las acciones en el gr\u00e1fico siguiente.<\/p>\n<div id=\"attachment_1766\" style=\"width: 710px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/blog.cityfalcon.com\/wp-content\/uploads\/2017\/01\/hhs-2.jpg\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1766\" style=\"max-width: 100%; height: auto;\" class=\"size-full wp-image-1766\" src=\"http:\/\/blog.cityfalcon.com\/wp-content\/uploads\/2017\/01\/hhs-2.jpg\" alt=\"\" width=\"700\" height=\"423\" srcset=\"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-2.jpg 700w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-2-300x181.jpg 300w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-2-600x363.jpg 600w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/a><p id=\"caption-attachment-1766\" class=\"wp-caption-text\">Fuente: <a href=\"https:\/\/www.google.com\/finance?q=NYSE%3AHHS&amp;ei=h6GAWJGdOsG4U_qan6gF\">google.com\/finance<\/a><\/p><\/div>\n<p>El inversor contrario en m\u00ed dice que si bien el mercado en este momento es mayormente correcto, todav\u00eda queda una bocanada libre en esta colilla de cigarro.<\/p>\n<p>&quot;<em>Si compra una acci\u00f3n a un precio suficientemente bajo, generalmente habr\u00e1 alg\u00fan contratiempo en la suerte del negocio que le dar\u00e1 la oportunidad de descargar con una ganancia decente, aunque el rendimiento a largo plazo del negocio pueda ser terrible. Yo llamo a esto el enfoque de inversi\u00f3n de \u201ccolilla de cigarro\u201d. Una colilla de cigarro encontrada en la calle a la que solo le queda una bocanada puede que no ofrezca mucho humo, pero la &quot;compra de ganga&quot; har\u00e1 que esa bocanada sea todo un beneficio.<\/em>. &quot; - Warren Buffett<\/p>\n<p>Al observar las finanzas a continuaci\u00f3n, he resaltado en rojo sus ingresos decrecientes. Tambi\u00e9n destaqu\u00e9 en rojo el hecho de que durante los \u00faltimos 5 a\u00f1os (en promedio) ha generado una p\u00e9rdida de $0.56 por acci\u00f3n. Sin embargo, y esta es la clave, es que la p\u00e9rdida se debe a un importante cargo por deterioro no monetario, principalmente en 2015 por una suma de $210m. Para confirmar esto, puede ver resaltado en verde que HHS realmente ha generado $36m en FCF en promedio durante los \u00faltimos 5 a\u00f1os.<\/p>\n<div id=\"attachment_1767\" style=\"width: 1003px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/blog.cityfalcon.com\/wp-content\/uploads\/2017\/01\/hhs-3.png\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1767\" style=\"max-width: 100%; height: auto;\" class=\"size-full wp-image-1767\" src=\"http:\/\/blog.cityfalcon.com\/wp-content\/uploads\/2017\/01\/hhs-3.png\" alt=\"\" width=\"993\" height=\"714\" srcset=\"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-3.png 993w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-3-300x216.png 300w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-3-768x552.png 768w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-3-945x679.png 945w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-3-600x431.png 600w\" sizes=\"(max-width: 993px) 100vw, 993px\" \/><\/a><p id=\"caption-attachment-1767\" class=\"wp-caption-text\">Fuente: morningstar.com; c\u00e1lculos del autor<\/p><\/div>\n<p>Adem\u00e1s, aunque muchos inversores prefieren buscar empresas con altos rendimientos sobre el capital (ROE) como representaci\u00f3n de un gran negocio, yo personalmente prefiero buscar grandes negocios que se reflejen en la m\u00e9trica m\u00e1s limpia de alto flujo de caja libre dividido por las ventas (FCF% ). Las dos m\u00e9tricas van en gran medida de la mano, pero el ROE est\u00e1 influenciado por el apalancamiento y FCF% est\u00e1 ligeramente menos influenciado por esto. Normalmente, tiendo a considerar negocios con FCF% por encima de 5% como buenos negocios. Por supuesto, hay muchas empresas realmente excelentes que est\u00e1n creciendo muy r\u00e1pido y que est\u00e1n reinvirtiendo todo su efectivo, por lo que el FCF ser\u00e1 m\u00e1s peque\u00f1o, pero los inversores de valor tradicionales tienen dificultades para pronosticar el futuro. Como nota al margen r\u00e1pida, el inversor de valor tradicional, como yo, pone mucho \u00e9nfasis en el desempe\u00f1o pasado de la empresa sin peso en el crecimiento futuro. Walter Schloss, uno de mis inversores favoritos, solo considerar\u00eda el costo que costar\u00eda replicar un negocio (una suma del an\u00e1lisis de la parte) y pagar\u00eda significativamente menos que eso: <em>principio de margen de seguridad<\/em>. Si bien esto ciertamente no siempre funciona, a trav\u00e9s de la diversificaci\u00f3n funciona bien con el tiempo.<\/p>\n<p>Hice un an\u00e1lisis posterior del sobre sobre lo que el HHS hab\u00eda generado durante los \u00faltimos 9 meses y c\u00f3mo se compar\u00f3 con los mismos 9 meses hace un a\u00f1o (esto se debe \u00fanicamente al funcionamiento continuo del HHS <em>Excluyendo <\/em>cualquier efecto de Trillium que ya se haya vendido). Esto tiene en cuenta cualquier estacionalidad, ya que solo estoy haciendo un an\u00e1lisis like for like y me dice lo que HHS tiende a generar. Durante los \u00faltimos 9 meses, gener\u00f3 ~ $15m en FCF (ver m\u00e1s abajo).<\/p>\n<div id=\"attachment_1768\" style=\"width: 988px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/blog.cityfalcon.com\/wp-content\/uploads\/2017\/01\/hhs-4.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1768\" style=\"max-width: 100%; height: auto;\" class=\"size-full wp-image-1768\" src=\"http:\/\/blog.cityfalcon.com\/wp-content\/uploads\/2017\/01\/hhs-4.jpg\" alt=\"\" width=\"978\" height=\"726\" srcset=\"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-4.jpg 978w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-4-300x223.jpg 300w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-4-768x570.jpg 768w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-4-945x702.jpg 945w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-4-600x445.jpg 600w\" sizes=\"(max-width: 978px) 100vw, 978px\" \/><\/a><p id=\"caption-attachment-1768\" class=\"wp-caption-text\">Fuente: c\u00e1lculos del autor.<\/p><\/div>\n<p>Ahora, recuerde, esto es solo por 9 meses, no el a\u00f1o completo. As\u00ed que seamos muy conservadores y digamos que el HHS no genera ning\u00fan FCF adicional durante los pr\u00f3ximos 3 meses del a\u00f1o. Aqu\u00ed tiene una empresa que genera $15m con una capitalizaci\u00f3n de mercado de aproximadamente $95m (y libre de deudas) o un m\u00faltiplo de 6 veces el flujo de caja libre.<\/p>\n<p>Ahora, el argumento bajista, que es muy pertinente aqu\u00ed, es que los ingresos del HHS han estado disminuyendo durante la \u00faltima d\u00e9cada. Este es un argumento muy v\u00e1lido y es por eso que las acciones ahora se venden al descubierto 31%. Pero como inversor de gran valor, creo que cuanto m\u00e1s corto sea el valor de las acciones <em>el mejor<\/em>, ya que los operadores que actualmente est\u00e1n apostando en corto se comprometen por completo a recomprar las acciones en un momento posterior. Por supuesto, esos operadores est\u00e1n apostando a que volver\u00e1n a comprar a un precio m\u00e1s barato, pero est\u00e1n comprometidos a recomprar las acciones. Si tengo raz\u00f3n en que la acci\u00f3n est\u00e1 infravalorada, una vez que la acci\u00f3n comience a apreciarse, habr\u00e1 una peque\u00f1a contracci\u00f3n.<\/p>\n<p><strong>Compra y propiedad de informaci\u00f3n privilegiada<\/strong><\/p>\n<p>Siempre me gusta ver c\u00f3mo se incentiva a los iniciados para que cambien la empresa. Para esto, verifico cu\u00e1ntas acciones de la compa\u00f1\u00eda poseen los iniciados y cu\u00e1les son las compras recientes de acciones y a qu\u00e9 precio. Creo que el capitalismo funciona y si la gente tiene los incentivos correctos, estar\u00e1 motivada para hacer lo correcto. Como puede ver en la siguiente tabla, los iniciados poseen un respetable <strong>13.4%<\/strong> de las acciones en circulaci\u00f3n.<\/p>\n<div id=\"attachment_1769\" style=\"width: 1088px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/blog.cityfalcon.com\/wp-content\/uploads\/2017\/01\/hhs-5.png\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1769\" style=\"max-width: 100%; height: auto;\" class=\"size-full wp-image-1769\" src=\"http:\/\/blog.cityfalcon.com\/wp-content\/uploads\/2017\/01\/hhs-5.png\" alt=\"\" width=\"1078\" height=\"667\" srcset=\"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-5.png 1078w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-5-300x186.png 300w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-5-768x475.png 768w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-5-1024x634.png 1024w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-5-945x585.png 945w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-5-600x371.png 600w\" sizes=\"(max-width: 1078px) 100vw, 1078px\" \/><\/a><p id=\"caption-attachment-1769\" class=\"wp-caption-text\">Fuente: HHS, \u00faltimo formulario proxy de 2016<\/p><\/div>\n<p>Adem\u00e1s, como muestra la siguiente tabla, ha habido algunas compras tentativas de acciones por parte de la gerencia, con la Sra. Puckett comprando aproximadamente $55k en acciones a $1.48.<\/p>\n<div id=\"attachment_1770\" style=\"width: 1094px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/blog.cityfalcon.com\/wp-content\/uploads\/2017\/01\/hhs-6.png\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1770\" style=\"max-width: 100%; height: auto;\" class=\"size-full wp-image-1770\" src=\"http:\/\/blog.cityfalcon.com\/wp-content\/uploads\/2017\/01\/hhs-6.png\" alt=\"\" width=\"1084\" height=\"231\" srcset=\"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-6.png 1084w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-6-300x64.png 300w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-6-768x164.png 768w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-6-1024x218.png 1024w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-6-945x201.png 945w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-6-600x128.png 600w\" sizes=\"(max-width: 1084px) 100vw, 1084px\" \/><\/a><p id=\"caption-attachment-1770\" class=\"wp-caption-text\">Fuente: Insidercow.com<\/p><\/div>\n<p>Si bien estas no son grandes sumas de ninguna manera, la gerencia tiene pocos incentivos para comprar acciones adicionales en su propia compa\u00f1\u00eda, ya que ya obtienen una gran cantidad de acciones a trav\u00e9s del \u201cPlan de Incentivo de Capital\u201d de la compa\u00f1\u00eda (ver m\u00e1s abajo). Para que la gerencia compre acciones adem\u00e1s de lo que ya obtiene del paquete de compensaci\u00f3n, debe creer que se puede ganar dinero.<\/p>\n<p><a href=\"http:\/\/blog.cityfalcon.com\/wp-content\/uploads\/2017\/01\/hhs-7.png\"><img loading=\"lazy\" decoding=\"async\" style=\"max-width: 100%; height: auto;\" class=\"alignnone size-full wp-image-1771\" src=\"http:\/\/blog.cityfalcon.com\/wp-content\/uploads\/2017\/01\/hhs-7.png\" alt=\"\" width=\"1101\" height=\"576\" srcset=\"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-7.png 1101w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-7-300x157.png 300w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-7-768x402.png 768w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-7-1024x536.png 1024w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-7-945x494.png 945w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-7-600x314.png 600w\" sizes=\"(max-width: 1101px) 100vw, 1101px\" \/><\/a><\/p>\n<p><strong>Prueba de cordura<br \/>\n<\/strong>Me gusta comparar el precio actual de la empresa frente a lo que ha negociado durante los \u00faltimos 5 a\u00f1os. Considero que esta es una comprobaci\u00f3n de cordura muy r\u00e1pida y sucia de que, de hecho, no estoy pagando de m\u00e1s por una &quot;historia&quot;: acciones.<\/p>\n<div id=\"attachment_1772\" style=\"width: 1098px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/blog.cityfalcon.com\/wp-content\/uploads\/2017\/01\/hhs-8.png\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1772\" style=\"max-width: 100%; height: auto;\" class=\"size-full wp-image-1772\" src=\"http:\/\/blog.cityfalcon.com\/wp-content\/uploads\/2017\/01\/hhs-8.png\" alt=\"\" width=\"1088\" height=\"439\" srcset=\"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-8.png 1088w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-8-300x121.png 300w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-8-768x310.png 768w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-8-1024x413.png 1024w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-8-945x381.png 945w, https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/hhs-8-600x242.png 600w\" sizes=\"(max-width: 1088px) 100vw, 1088px\" \/><\/a><p id=\"caption-attachment-1772\" class=\"wp-caption-text\">Fuente: Morningstar.com<\/p><\/div>\n<p>Mi m\u00e9trica favorita es la P \/ S. Me gusta porque es una m\u00e9trica bastante limpia. Me gusta comparar lo que los inversores han estado dispuestos a pagar por una acci\u00f3n durante los \u00faltimos cinco a\u00f1os y lo que est\u00e1n dispuestos a pagar ahora. En los \u00faltimos cinco a\u00f1os, los inversores estuvieron felices de pagar 0.6x P \/ S. Actualmente, a los inversores se les pide que paguen solo\u00a0<strong>0.2 P \/ S, que es al menos 50%<\/strong>\u00a0m\u00e1s barato que el promedio de 5 a\u00f1os.<\/p>\n<p><strong>Conclusi\u00f3n<\/strong><\/p>\n<p>Cualquier inversi\u00f3n en HHS no ser\u00e1 apta para pusil\u00e1nimes. Puede tomar m\u00e1s de 1 a\u00f1o para que las buenas noticias comiencen a filtrarse a trav\u00e9s de sus finanzas. Mientras tanto, su participaci\u00f3n est\u00e1 muy cortada y ser\u00e1 muy vol\u00e1til. Cualquier mala noticia y las acciones caer\u00e1n 20%-30% en un solo d\u00eda, pero los inversores sin emociones que est\u00e9n completamente disociados del precio de las acciones como un indicador de si tienen raz\u00f3n o no en el corto plazo probablemente se beneficiar\u00e1n de una manera satisfactoria. camino con una ventaja de 50% durante el pr\u00f3ximo a\u00f1o.<\/p>\n<p><em>Divulgaci\u00f3n: soy largo HHS. Yo mismo escrib\u00ed este art\u00edculo y expresa mis propias opiniones. No estoy recibiendo compensaci\u00f3n por ello.<\/em><\/p>\n<p>Si desea realizar un seguimiento de las noticias financieras relevantes en tiempo real para Harte-Hanks, compru\u00e9belo <a href=\"http:\/\/www.cityfalcon.com\/watchlists?assets=HHS\">aqu\u00ed<\/a>.<br \/>\n&nbsp;<\/p>","protected":false},"excerpt":{"rendered":"<p>Descargo de responsabilidad: esta es una publicaci\u00f3n de invitado de Michael Wiggins De Oliveira y no refleja las opiniones de CityFALCON y sus partes interesadas. Harte-Hanks Fecha: 19\/1\/2017 Capitalizaci\u00f3n de mercado: $93m Precio de la acci\u00f3n: $1.52 Valoraci\u00f3n \/ precio objetivo: ~ $2.50 Tesis de inversi\u00f3n Harte-Hanks (NYSE:\u2026 <a class=\"more-link\" href=\"https:\/\/www.cityfalcon.ai\/blog\/es\/investments\/harte-hanks-a-value-stock\/\">Seguir leyendo \u2192<\/a><\/p>","protected":false},"author":9,"featured_media":1774,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[20],"tags":[121,30,50],"class_list":["post-1751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investments","tag-analysis","tag-investing","tag-stock"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Harte-Hanks (HHS:NYSE)<\/title>\n<meta name=\"description\" content=\"Harte Hanks (NYSE:HHS), has recently sold its crown jewel, for $112m in cash, which is more than the company\u2019s current market cap...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Harte-Hanks (HHS:NYSE)\" \/>\n<meta property=\"og:description\" content=\"Harte Hanks (NYSE:HHS), has recently sold its crown jewel, for $112m in cash, which is more than the company\u2019s current market cap...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/\" \/>\n<meta property=\"og:site_name\" content=\"CityFALCON Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cityfalconfollow\/\" \/>\n<meta property=\"article:published_time\" content=\"2017-01-21T12:46:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-10-05T11:01:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.cityfalcon.com\/blog\/wp-content\/uploads\/2017\/01\/macbook-336704_1280.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"853\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Michael Wiggins De Oliveira\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cityfalcon\" \/>\n<meta name=\"twitter:site\" content=\"@cityfalcon\" \/>\n<meta name=\"twitter:label1\" content=\"Escrito por\" \/>\n\t<meta name=\"twitter:data1\" content=\"Michael Wiggins De Oliveira\" \/>\n\t<meta name=\"twitter:label2\" content=\"Tiempo de lectura\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutos\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":[\"Article\",\"BlogPosting\"],\"@id\":\"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/\"},\"author\":{\"name\":\"Michael Wiggins De Oliveira\",\"@id\":\"https:\/\/www.cityfalcon.ai\/blog\/#\/schema\/person\/780d39cc0ad8c9d83e2edc7a23454e2b\"},\"headline\":\"Harte-Hanks &#8211; A Value Stock\",\"datePublished\":\"2017-01-21T12:46:23+00:00\",\"dateModified\":\"2017-10-05T11:01:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/\"},\"wordCount\":1295,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.cityfalcon.ai\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/macbook-336704_1280.jpg\",\"keywords\":[\"analysis\",\"investing\",\"stock\"],\"articleSection\":[\"Investments\"],\"inLanguage\":\"es\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/\",\"url\":\"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/\",\"name\":\"Harte-Hanks (HHS:NYSE)\",\"isPartOf\":{\"@id\":\"https:\/\/www.cityfalcon.ai\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/macbook-336704_1280.jpg\",\"datePublished\":\"2017-01-21T12:46:23+00:00\",\"dateModified\":\"2017-10-05T11:01:38+00:00\",\"description\":\"Harte Hanks (NYSE:HHS), has recently sold its crown jewel, for $112m in cash, which is more than the company\u2019s current market cap...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/#breadcrumb\"},\"inLanguage\":\"es\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"es\",\"@id\":\"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/#primaryimage\",\"url\":\"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/macbook-336704_1280.jpg\",\"contentUrl\":\"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/macbook-336704_1280.jpg\",\"width\":1280,\"height\":853},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.cityfalcon.ai\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"analysis\",\"item\":\"https:\/\/www.cityfalcon.com\/blog\/tag\/analysis\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Harte-Hanks &#8211; A Value Stock\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.cityfalcon.ai\/blog\/#website\",\"url\":\"https:\/\/www.cityfalcon.ai\/blog\/\",\"name\":\"CityFALCON Blog\",\"description\":\"Financial News Simplified\",\"publisher\":{\"@id\":\"https:\/\/www.cityfalcon.ai\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.cityfalcon.ai\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"es\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.cityfalcon.ai\/blog\/#organization\",\"name\":\"CityFalcon\",\"url\":\"https:\/\/www.cityfalcon.ai\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"es\",\"@id\":\"https:\/\/www.cityfalcon.ai\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2023\/07\/Cityfalcon-Logo.jpeg\",\"contentUrl\":\"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2023\/07\/Cityfalcon-Logo.jpeg\",\"width\":238,\"height\":113,\"caption\":\"CityFalcon\"},\"image\":{\"@id\":\"https:\/\/www.cityfalcon.ai\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/cityfalconfollow\/\",\"https:\/\/x.com\/cityfalcon\",\"https:\/\/www.linkedin.com\/company\/cityfalcon\",\"https:\/\/www.youtube.com\/channel\/UCkhcDOZES1LUBHRIAAt7WOA\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.cityfalcon.ai\/blog\/#\/schema\/person\/780d39cc0ad8c9d83e2edc7a23454e2b\",\"name\":\"Michael Wiggins De Oliveira\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"es\",\"@id\":\"https:\/\/www.cityfalcon.ai\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2016\/10\/Michael-150x150.jpg\",\"contentUrl\":\"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2016\/10\/Michael-150x150.jpg\",\"caption\":\"Michael Wiggins De Oliveira\"},\"description\":\"Michael Wiggins De Oliveira is the founder of the London Deep Value Investment Club (LDVIC). He runs a concentrated portfolio of Deep Value stock for LDVIC. LDVIC's primary goal is to invest in value stocks of quality businesses. Michael is always open to meeting fellow investors and sharing his knowledge.\",\"url\":\"https:\/\/www.cityfalcon.ai\/blog\/es\/author\/michael\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Harte-Hanks (HHS:NYSE)","description":"Harte Hanks (NYSE:HHS), has recently sold its crown jewel, for $112m in cash, which is more than the company\u2019s current market cap...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/","og_locale":"es_ES","og_type":"article","og_title":"Harte-Hanks (HHS:NYSE)","og_description":"Harte Hanks (NYSE:HHS), has recently sold its crown jewel, for $112m in cash, which is more than the company\u2019s current market cap...","og_url":"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/","og_site_name":"CityFALCON Blog","article_publisher":"https:\/\/www.facebook.com\/cityfalconfollow\/","article_published_time":"2017-01-21T12:46:23+00:00","article_modified_time":"2017-10-05T11:01:38+00:00","og_image":[{"width":1280,"height":853,"url":"https:\/\/www.cityfalcon.com\/blog\/wp-content\/uploads\/2017\/01\/macbook-336704_1280.jpg","type":"image\/jpeg"}],"author":"Michael Wiggins De Oliveira","twitter_card":"summary_large_image","twitter_creator":"@cityfalcon","twitter_site":"@cityfalcon","twitter_misc":{"Escrito por":"Michael Wiggins De Oliveira","Tiempo de lectura":"6 minutos"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":["Article","BlogPosting"],"@id":"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/#article","isPartOf":{"@id":"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/"},"author":{"name":"Michael Wiggins De Oliveira","@id":"https:\/\/www.cityfalcon.ai\/blog\/#\/schema\/person\/780d39cc0ad8c9d83e2edc7a23454e2b"},"headline":"Harte-Hanks &#8211; A Value Stock","datePublished":"2017-01-21T12:46:23+00:00","dateModified":"2017-10-05T11:01:38+00:00","mainEntityOfPage":{"@id":"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/"},"wordCount":1295,"commentCount":0,"publisher":{"@id":"https:\/\/www.cityfalcon.ai\/blog\/#organization"},"image":{"@id":"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/#primaryimage"},"thumbnailUrl":"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/macbook-336704_1280.jpg","keywords":["analysis","investing","stock"],"articleSection":["Investments"],"inLanguage":"es","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/","url":"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/","name":"Harte-Hanks (HHS:NYSE)","isPartOf":{"@id":"https:\/\/www.cityfalcon.ai\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/#primaryimage"},"image":{"@id":"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/#primaryimage"},"thumbnailUrl":"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/macbook-336704_1280.jpg","datePublished":"2017-01-21T12:46:23+00:00","dateModified":"2017-10-05T11:01:38+00:00","description":"Harte Hanks (NYSE:HHS), has recently sold its crown jewel, for $112m in cash, which is more than the company\u2019s current market cap...","breadcrumb":{"@id":"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/#breadcrumb"},"inLanguage":"es","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/"]}]},{"@type":"ImageObject","inLanguage":"es","@id":"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/#primaryimage","url":"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/macbook-336704_1280.jpg","contentUrl":"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2017\/01\/macbook-336704_1280.jpg","width":1280,"height":853},{"@type":"BreadcrumbList","@id":"https:\/\/www.cityfalcon.com\/blog\/fr\/investments\/harte-hanks-a-value-stock\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.cityfalcon.ai\/blog\/"},{"@type":"ListItem","position":2,"name":"analysis","item":"https:\/\/www.cityfalcon.com\/blog\/tag\/analysis\/"},{"@type":"ListItem","position":3,"name":"Harte-Hanks &#8211; A Value Stock"}]},{"@type":"WebSite","@id":"https:\/\/www.cityfalcon.ai\/blog\/#website","url":"https:\/\/www.cityfalcon.ai\/blog\/","name":"CityFALCON Blog","description":"Financial News Simplified","publisher":{"@id":"https:\/\/www.cityfalcon.ai\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.cityfalcon.ai\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"es"},{"@type":"Organization","@id":"https:\/\/www.cityfalcon.ai\/blog\/#organization","name":"CityFalcon","url":"https:\/\/www.cityfalcon.ai\/blog\/","logo":{"@type":"ImageObject","inLanguage":"es","@id":"https:\/\/www.cityfalcon.ai\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2023\/07\/Cityfalcon-Logo.jpeg","contentUrl":"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2023\/07\/Cityfalcon-Logo.jpeg","width":238,"height":113,"caption":"CityFalcon"},"image":{"@id":"https:\/\/www.cityfalcon.ai\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/cityfalconfollow\/","https:\/\/x.com\/cityfalcon","https:\/\/www.linkedin.com\/company\/cityfalcon","https:\/\/www.youtube.com\/channel\/UCkhcDOZES1LUBHRIAAt7WOA"]},{"@type":"Person","@id":"https:\/\/www.cityfalcon.ai\/blog\/#\/schema\/person\/780d39cc0ad8c9d83e2edc7a23454e2b","name":"Michael Wiggins De Oliveira","image":{"@type":"ImageObject","inLanguage":"es","@id":"https:\/\/www.cityfalcon.ai\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2016\/10\/Michael-150x150.jpg","contentUrl":"https:\/\/www.cityfalcon.ai\/blog\/wp-content\/uploads\/2016\/10\/Michael-150x150.jpg","caption":"Michael Wiggins De Oliveira"},"description":"Michael Wiggins De Oliveira is the founder of the London Deep Value Investment Club (LDVIC). He runs a concentrated portfolio of Deep Value stock for LDVIC. LDVIC's primary goal is to invest in value stocks of quality businesses. Michael is always open to meeting fellow investors and sharing his knowledge.","url":"https:\/\/www.cityfalcon.ai\/blog\/es\/author\/michael\/"}]}},"_links":{"self":[{"href":"https:\/\/www.cityfalcon.ai\/blog\/es\/wp-json\/wp\/v2\/posts\/1751","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cityfalcon.ai\/blog\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cityfalcon.ai\/blog\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cityfalcon.ai\/blog\/es\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cityfalcon.ai\/blog\/es\/wp-json\/wp\/v2\/comments?post=1751"}],"version-history":[{"count":11,"href":"https:\/\/www.cityfalcon.ai\/blog\/es\/wp-json\/wp\/v2\/posts\/1751\/revisions"}],"predecessor-version":[{"id":3555,"href":"https:\/\/www.cityfalcon.ai\/blog\/es\/wp-json\/wp\/v2\/posts\/1751\/revisions\/3555"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cityfalcon.ai\/blog\/es\/wp-json\/wp\/v2\/media\/1774"}],"wp:attachment":[{"href":"https:\/\/www.cityfalcon.ai\/blog\/es\/wp-json\/wp\/v2\/media?parent=1751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cityfalcon.ai\/blog\/es\/wp-json\/wp\/v2\/categories?post=1751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cityfalcon.ai\/blog\/es\/wp-json\/wp\/v2\/tags?post=1751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}