In a recent transaction, Nicholas Lahanas, the Chief Financial Officer of Central Garden & Pet Co (NASDAQ:CENT), sold 10,000 shares of the company's Class A Common Stock. The transaction, dated May 15, 2024, was executed at an average price of $40.0019 per share, resulting in a total sale amount of $400,019.
Following the sale, Lahanas continues to hold 77,528 shares of Central Garden & Pet Co, indicating his ongoing investment in the company. It's worth noting that the shares sold by Lahanas were owned directly, and the transaction does not affect his indirectly held securities in the company's 401(k) Plan, where he still retains 12,275.69 units.
Investors often monitor the buying and selling activities of company insiders like Lahanas as these transactions can provide insights into their perspective on the company's current valuation and future prospects. The sale by the CFO of Central Garden & Pet Co represents a significant transaction and may be of interest to current and potential shareholders.
Central Garden & Pet Co, with its headquarters in Walnut Creek, California, is a leading provider in the wholesale distribution of miscellaneous nondurable goods. As of the date of the report, the company has not released any official statement regarding the transaction carried out by CFO Nicholas Lahanas.
InvestingPro Insights
Following the recent insider transaction at Central Garden & Pet Co (NASDAQ:CENT), where CFO Nicholas Lahanas sold a notable number of shares, investors might be interested in the current financial metrics and market sentiment surrounding the company. As of the last twelve months as of Q2 2024, Central Garden & Pet Co boasts a market capitalization of $3.1 billion and a Price to Earnings (P/E) ratio of 13.99, which suggests that the company is trading at a low P/E ratio relative to near-term earnings growth.
Despite the modest revenue growth of 1.49% during the same period, Central Garden & Pet Co has demonstrated a strong gross profit margin of 29.79%, underlining the company's ability to maintain profitability. The company also shows a robust EBITDA growth of 19.92%, reflecting efficient operational performance.
From a market performance perspective, Central Garden & Pet Co has experienced a large price uptick over the last six months, with a total return of 31.92%. This trend aligns with the InvestingPro Tips, which highlight the company's high return over the last year, with a 56.77% increase. Additionally, the stock is trading near its 52-week high, at 96.95% of the peak price, indicating a strong market confidence in the company's prospects.
Investors considering Central Garden & Pet Co as a potential addition to their portfolios may find it beneficial to explore the additional insights available on InvestingPro. There are 11 more InvestingPro Tips that can provide a deeper understanding of the company's financial health and market position. For those interested in accessing these valuable insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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