In a recent transaction, Prashant Ranade, a director at Brinker International, Inc. (NYSE:EAT), sold 1,100 shares of the company's common stock. The sale took place on May 17, 2024, with the shares being sold at a weighted average price of $62.47. The transactions occurred in multiple parts, with prices ranging from $62.46 to $62.47 per share, totaling approximately $68,717.
Prashant Ranade's sale of Brinker International shares is disclosed in the latest SEC filings, which provide a detailed account of the transaction. Following the sale, Ranade still holds 17,039 shares of Brinker International, a company well-known in the retail eating space and operating under the ticker EAT.
Investors and the market often monitor insider transactions such as these for insights into executive confidence in the company's prospects. The details of the sale, including the range of prices at which the stock was sold, are available upon request, as stated in the footnotes of the SEC filing.
The filing was signed by Christopher L. Green, as Attorney-in-Fact, on behalf of Prashant Ranade. Brinker International, based in Dallas, Texas, is the parent company of several restaurant chains and has a significant presence in the industry.
InvestingPro Insights
Brinker International, Inc. (NYSE:EAT), has exhibited noteworthy performance metrics that are of interest to investors evaluating the company's recent insider transaction. With a market capitalization of $2.78 billion, the company's growth and valuation come into focus. Brinker International's revenue has grown by 4.98% over the last twelve months as of Q3 2024, indicating a steady upward trajectory in its earnings capability. The company's stock has also experienced significant price appreciation, with a 44.88% year-to-date price total return as of the same period, reflecting a robust market sentiment.
Looking at the company's stock price movements, Brinker International is currently trading near its 52-week high, with the price representing 98.07% of this peak. This aligns with one of the InvestingPro Tips which notes that the stock has had a large price uptick over the last six months, specifically a 72.58% six-month price total return as of the same date. Additionally, the stock's one-month price total return stands at an impressive 41.96%, further underscoring its strong short-term performance.
Investors considering Brinker International's stock should also note the company's P/E ratio, which currently stands at 18.23. This valuation metric, in conjunction with the company's near-term earnings growth, suggests that the stock is trading at a low P/E ratio relative to its earnings growth, as highlighted by another InvestingPro Tip. For those looking to delve deeper into the company's financials and future prospects, there are 17 additional InvestingPro Tips available at https://www.investing.com/pro/EAT. Moreover, interested investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing access to an even broader array of insights and analytics to inform their investment decisions.
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