Harmoney Founder Transitions to Non-Executive Role Amid Partial Share Selldown

Harmoney Corp Ltd ( (AU:HMY) ) just unveiled an announcement.

Harmoney Corp Ltd announced that its founder, Neil Roberts, has sold 3.6 million shares, representing about 3.5% of the company’s issued shares, as he transitions to a non-executive director role. Despite the partial selldown, Roberts remains the largest shareholder with 15% of the shares and plans no further sales in the next 12 months. This move marks a significant shift in the company’s leadership structure, potentially impacting its strategic direction while maintaining stability in shareholder composition.

The most recent analyst rating on (AU:HMY) stock is a Buy with a A$0.92 price target. To see the full list of analyst forecasts on Harmoney Corp Ltd stock, see the AU:HMY Stock Forecast page.

More about Harmoney Corp Ltd

Harmoney Corp Ltd is a 100% consumer-direct personal lender operating in Australia and New Zealand, offering risk-based priced personal loans up to $100,000. The company leverages its proprietary digital lending platform, Stellare®, which uses machine learning for automated credit decisioning and risk-based pricing. Harmoney’s business model is supported by a scalable technology platform and a diversified funding panel, including partnerships with major banks.

Average Trading Volume: 41,118

Technical Sentiment Signal: Buy

Current Market Cap: A$59.65M

See more data about HMY stock on TipRanks’ Stock Analysis page.