Amalgamated Financial Corp.'s (NASDAQ:AMAL) Chief Strategy & Admin Officer, Romney Edgar Jr., has recently engaged in significant trading activity involving the company's stock, according to the latest filings. On May 16, Edgar Jr. sold 8,269 shares of common stock at an average price of $25.25, totaling approximately $208,792. The transactions were executed within a price range of $25.335 to $25.20, as detailed in the footnotes of the filing.
In addition to the sale, Edgar Jr. also acquired 28,020 shares through the exercise of options at a set price of $13.75 per share, amounting to a total transaction value of $385,275. On the same day, he disposed of 19,751 shares to cover the costs associated with the option exercise, with these shares valued at $25.53 each, totaling $504,243.
These transactions have led to a change in Edgar Jr.'s ownership stake in Amalgamated Financial Corp. Following the sales and acquisitions, he now directly owns 13,856 shares of the company.
It is worth noting that the sale reported on the form was carried out under a Rule 10b5-1 trading plan, which Edgar Jr. had previously adopted on February 16, 2024. This rule allows company insiders to set up a predetermined plan to sell company stocks, thereby avoiding accusations of insider trading.
Investors and market watchers often scrutinize such filings for insights into executive sentiment toward their company's stock. The transactions by Edgar Jr. provide a glimpse into the financial moves of one of Amalgamated Financial's key insiders.
InvestingPro Insights
Amalgamated Financial Corp. (NASDAQ:AMAL) has been a subject of interest following the recent trading activity by its Chief Strategy & Admin Officer, Romney Edgar Jr. To provide investors with a clearer picture of the company's financial health and market performance, here are some insights based on real-time data and InvestingPro Tips.
The company currently holds a market capitalization of $771.65 million, with a P/E ratio of 8.31, reflecting a market valuation that may attract investors looking for potentially undervalued stocks. Amalgamated Financial Corp. has shown a strong return on assets over the last twelve months, standing at 1.18%, which could signal efficient management of its asset base.
An InvestingPro Tip worth noting is that Amalgamated Financial Corp. has experienced analysts revising their earnings upwards for the upcoming period, indicating potential optimism regarding the company's future earnings. Additionally, the company has seen a significant return over the last year, with a 76.27% price total return, which may interest investors seeking companies with strong past performance.
Investors should also be aware that while the company is trading at a high P/E ratio relative to near-term earnings growth, it has been profitable over the last twelve months, and analysts predict it will remain profitable this year. This information can be particularly relevant when assessing the company's earnings sustainability.
For those looking to delve deeper into Amalgamated Financial Corp.'s financials and market performance, InvestingPro offers additional insights and tips. Currently, there are 6 more InvestingPro Tips available for AMAL at InvestingPro. To enhance your investment research, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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