In a recent move, Curtis A. Loveland, the Assistant Secretary of Rocky Brands , Inc. (NASDAQ:RCKY), a company known for its footwear offerings, sold a significant amount of company stock. The transactions, which took place on May 6th and 7th, amounted to a total of over $345,000.
The series of sales were executed at varying prices, ranging from $35.149 to $36.5 per share. On May 6th, a total of 354 shares were sold at an average price of $36.35, with the prices ranging from $36.07 to $36.54. Another batch of 2,161 shares were sold at an average price of $35.43, within a price range of $35.00 to $35.98. Additionally, 1,600 shares were sold at $36.5, and 3,472 shares were sold at an average price of $35.33, with the sale prices ranging from $35.00 to $35.92.
The following day, on May 7th, Loveland continued to divest, selling 979 shares at an average price of $35.149, where the prices ranged from $35.08 to $35.33. Moreover, 1,147 shares were sold at an average price of $35.4, with a price range of $35.09 to $35.99.
The sales have resulted in a notable reduction in Loveland's holdings in Rocky Brands, with the number of shares owned following the transactions listed in the thousands. It's worth noting that some of the shares sold were held in a Keogh account, indicating they were part of a retirement plan.
Investors and market watchers often look to insider transactions such as these for signals about a company's health and the confidence of its top executives. However, such sales can also be part of regular financial planning or portfolio management strategies by individuals within the company.
Rocky Brands, headquartered in Nelsonville, Ohio, has not released any official statement regarding the transactions carried out by Loveland. Meanwhile, the company continues its operations in the highly competitive footwear industry.
InvestingPro Insights
Amid the news of insider transactions by Curtis A. Loveland, Assistant Secretary of Rocky Brands, Inc. (NASDAQ:RCKY), investors are keen to understand the current financial standing of the company. According to InvestingPro data, Rocky Brands has a market capitalization of $268.42 million, with a trailing twelve-month P/E ratio of 15.27, indicating the company's earnings relative to its share price. Moreover, the P/E ratio suggests that the stock is trading at a higher multiple than might be expected given its near-term earnings growth, with a P/E ratio of 25.23.
An InvestingPro Tip worth noting is that RCKY's stock has shown a significant return over the last week, with a 9.28% price total return. Additionally, the stock has experienced a strong return over the last year, boasting an 84.32% price total return. These returns reflect the company's performance in the market and might suggest investor confidence in its future prospects. Rocky Brands also stands out for maintaining dividend payments for 12 consecutive years, with a current dividend yield of 1.71%.
For investors looking for more in-depth analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/RCKY, which could provide further insights into Rocky Brands' valuation, liquidity, and stock price volatility. Readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, gaining access to a comprehensive list of 15 additional InvestingPro Tips for RCKY.
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