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In a recent move, a major shareholder in Utz Brands, Inc. (NYSE:UTZ) sold a significant number of shares in the company. The transactions took place for two days in a row, with a total value of more than $6 million.
92,226 shares were sold at an average price of $17.80 on March 13, 2024, with individual sale prices ranging from $17.55 to $18.32. The next day, an additional 244,712 shares were sold at an average price of $18.14, with sales prices ranging from $17.89 to $18.44. These numbers represent a weighted average price as the stock was sold in multiple transactions at different price points.
The shareholder identified as Chu Chinh has voting and disposition rights to securities through CC Collier Holdings, LLC and is reported to have significant influence over the company. Notwithstanding this authority, Chin disclaims any beneficial ownership of these securities except to the extent of any financial interest.
These transactions bring the total number of shares owned by Chinh to 3,311,442 shares. The nature of the transaction indicates that although Mr. Chin's stake in the company has been reduced, he retains a substantial interest in Utz Brands.
Investors and market watchers often keep a close eye on insider transactions because they can see the perspective of people who know a company well. The reasons for Chin's decision to sell some of his stake were not disclosed, but the filing clearly outlines the details of the transaction.
Utz Brands, Inc. is headquartered in Hanover, Pennsylvania and is known for its portfolio of snack food brands and products. The company's performance and stock price are closely monitored by stakeholders in the food industry and investment community alike.
Investment Pro Insights
Considering the recent insider selling in Utz Brands, Inc., it may be helpful to consider various financial metrics and analyst insights that can help investors understand the potential impact on the company's stock. It is important. Here are the key takeaways from his InvestingPro data as of the last 12 months through Q4 2023:
- Utz Brands has a market capitalization of approximately $2.58 billion.
- The company's P/E ratio is -58.73, reflecting profitability issues, and its adjusted P/E ratio for the same period was -82.69.
- Revenue growth was reported at 2.12%, indicating a modest increase in sales, and gross margin was a healthy 31.62%.
InvestingPro Tips for Utz Brands also provides valuable insight into a company's financial health and future prospects. One notable tidbit is that Utz has raised the dividend for his fourth consecutive year, which may be attractive to income-oriented investors. Additionally, analysts expect the company to be profitable this year, a significant turnaround from the past 12 months.
These tips are just a few of the in-depth analyzes available at InvestingPro. If you want to learn more about the Utz brand, you can find additional tips on the platform. For a more comprehensive investment evaluation, consider using coupon codes. pro news 24 Get an extra 10% off annual or biennial Pro and Pro+ subscriptions. Nine more InvestingPro tips are available for the Utz brand that can further help you make investment decisions.
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